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Premium wine sales in the US are expected to grow by as much as 14% this year amid improved retails conditions and good supply, a new report has said.

The SVB report said a good supply this year will aid premium wine sales in the US

The SVB report said a good supply this year will aid premium wine sales in the US

Sales growth in the premium US$6-20 segment will be between 10-14% in 2017, according to Silicon Valley Bank's annual State of the Wine Industry Report, released today. The report said strong demand from consumers for premium wine will also boost sales.

The predicted increase follows an estimated 10% jump for premium wine sales in 2016, SVB said. The US research company had earlier forecast a sales growth range of 9-13% for the year.

Premium wine growth in 2017 is set to outpace performance at other points - according to SVB overall wine sales will rise by 4-6% while volumes will increase 2-3%. 

"The growth will be exclusively in premium wine, with volume and price drops below the US$9 bottle price segment," the report said.

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To read the full SVB report, click here.


Sectors: Wine

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