EUROPE: Wine must prepare for slow recovery in Western Europe - forecast
Wine producers in Europe can expect a long haul going forward, according to Euromonitor
Wine companies operating in Western Europe need to brace themselves for a fragile recovery in the region, according to Euromonitor.
In a presentation at the London International Wine Fair earlier today (18 May), Euromonitor's alcoholic drinks analyst, Spiros Malandrakis, warned that the region has turned the corner economically since the downturn of 2009, but that “the spectre of stagnation lingers on”. Malandrakis highlighted that, while global volume growth for wine will continue over the next four years, Western Europe can expect flat volumes from now until 2015.
Euromonitor believes that the compound annual growth rate (CAGR) for wine globally from 2010 to 2015 should come in at around 3%. Western Europe, however, will see CAGR in the period hover around 0%.
By breakdown, rosé wine is expected to rise exponentially in the next four years in Western Europe, while still red wine will continue to experience volume declines of around 3% in CAGR terms.
Malandrakis warned that the coming years will see “a precarious, volatile and uneven recovery”.
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