Daily Wine News: State of the Industry

Posted by | Posted in Wine News | Posted on 01-18-2023

Silicon Valley Bank’s Rob McMillan has released the annual State of the Wine Industry Report, which shows overall wine consumption is down and the industry is at risk of losing the attention of a new generation of consumers.

Amanda Gabriele highlights the report’s key findings in InsideHook. “The report states that expensive wines continue to sell, but bottles that cost less than $15 are not doing so well. In addition, Gen Z and Millennial consumers are not drinking wine, despite recent marketing efforts to boost the booze’s sales among them.”

In Wine-Searcher, W. Blake Gray delves into both the good and bad news in the report. “McMillan blames neo-Prohibition anti-alcohol movements like Dry January, and also the way wine sells itself. Hard seltzer built a market by listing its ingredients, and calories, on the label. And the successful “better for you” wine category has taken off by criticizing other wines; i.e., “our wine is low in sugar, not like those others”. Very few wineries list ingredients on the label, but McMillan thinks that would turn into a strength.”

Decanter’s Chris Mercer is also breaking down the key takeaways from SVB’s report.

In Wine Enthusiast, L.M. Archer explores how California’s devastating floods may actually benefit winemakers this year.

Michael Alberty recommends a small handful of non-alcoholic wines in the Oregonian.

Eric Guido offers notes on the 2012 Brunello di Montalcino vintage in Vinous.

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