US wine sales hit record high
Some 360 million cases of domestic and foreign wine sold here last year, up 2% from the year before.
It's been a very good year for wine. Sales of domestic and foreign wines in the U.S. last year were reportedly up 2 percent compared to 2011 -- to a record 360.1 million cases with an estimated retail value of $34.6 billion.
California wines make up nearly 60 percent of overall U.S wine sales, with a retail value of around $22 billion. And according to the Wine Institute, the U.S. is the largest wine market in the world, with 19 consecutive years of volume growth.
"Wine shipments to the U.S. market climbed by nearly 50 percent since 2001 and it is likely that American consumption will continue to expand over the next decade as wine continues to gain traction among American adult consumers," wine industry consultant Jon Fredrikson of Gomberg, Fredrikson & Associates said in an Institute press statement.
Fredrikson attributes the growth of wine sales, and the growing number of wine drinkers in the U.S., to several factors, including "favorable" demographics, a bigger consumer base and a rising number of distribution points.
And a new study by the firm Restaurant Sciences of wine-by-the-glass sales for the first three quarters of this year finds American tastes appear to be shifting to higher-end vino, with pinot noir overtaking merlot in popularity. The study also found chardonnay remains the overall favorite white wine for people dining out, while cabernet sauvignon dominates the reds.
Restaurant Sciences analyzed 30 million guest checks from January through October of this year, from full-service restaurants, bars, nightclubs and hotel bars. It also found Americans are paying more for wine, with average prices per glass ranging from around $5.50 at a family dining restaurants to nearly $14 per glass at hotel bars.
U.S. wine exports, meanwhile, are having some vintage times as well. The Wine Institute says those exports created $1.43 billion in winery revenues last year, up 2.5 percent compared to a year earlier.
Read more from Benzinga
With the way this 'recovery' is going (or not going), I shouldn't wonder that wine sales are up.
As the Irish, myself included, are fond of saying: it is a shame to waste a perfectly good liver on sobriety. But don't take it from us, listen to what this expert has to say:
"To alcohol. The cause of and solution to all the world's problems"
It's nice to see that an industry based on slander is doing well. Atta boys!
First it was the French. The "experts" wouldn't dare say they were anything but the best. Then the Californians actually did work hard to improve their product, then they made inroads marketing and then had enough financial backing to get Madison Avenue to overtake the French through advertising and media. Now it's California bulldozing everyone else, to no surprise.
New York, Washington, Oregon and other states have won some serious competitions in wine during the last 20 years. Arizona of all places cleaned up in competitions during the 90's, with vineyards based around the town of Elgin. But California is the major market for its own wines, and those "other" places have been made substandard in the eyes of the media. How could a good wine be from a place like Oregon, that's preposterous! Playing on people's geographic prejudices is profitable.
Just try to find good, non-California wines IN California itself, the biggest market. The store shelves are closed off, sorry! It's like blind nationalism only at a state level. Thank goodness for the internet market. Certainly there a many good California wines, that's not my point.
It truly makes me wonder how the USA economy functions at all. Objectivity, excellence, and creativity have been preempted, it's all about the loudest mouths and who and where is most popular-- not the best, brightest, and those who strive for excellence.
The thumbs down will prove my point. Most all of them will be "offended" Californians.
No wine shortage for sure..!! More wine on shelves than you can shake a stick at.. Just BS, or some advertisement propaganda to boast and already prolific sales year.
Good old homemade Dago Red with some pepperoni and provolone cheese while watching football.
A glass of Red Sangria box wine before bedtime males for a good night's sleep for sure.
The tax paid by Thomas J. and George W. was plenty. As a % it should have been a
fixed percent so California lobbyists cound't use it as a weapon to control the market. 5$ wine
from Europe would be good for the American consumer and free enterprise is the principal
our country was founded on- not market manipulation by california elitists and lobbyists in D.C.
Limit the tariffs and the consumer wins and our old allies win too!
Copyright © 2014 Microsoft. All rights reserved.
Fundamental company data and historical chart data provided by Morningstar Inc. Real-time index quotes and delayed quotes supplied by Morningstar Inc. Quotes delayed by up to 15 minutes, except where indicated otherwise. Fund summary, fund performance and dividend data provided by Morningstar Inc. Analyst recommendations provided by Zacks Investment Research. StockScouter data provided by Verus Analytics. IPO data provided by Hoover's Inc. Index membership data provided by Morningstar Inc.
[BRIEFING.COM] The S&P has extended its gain to 0.3%, while the Nasdaq is now higher by 0.5%.
As mentioned earlier, the Nasdaq has benefitted from the strength among chipmakers (PHLX Semiconductor Index +0.7%) as well as the overall technology sector (+0.4%). Furthermore, the index has also received support from biotechnology as the iShares Nasdaq Biotechnology ETF (IBB 276.49, +2.37) trades higher by 0.9%.
Today's advance has placed the ETF on track for a record ... More
More Market News
|There’s a problem getting this information right now. Please try again later.|
MUST-SEE ON MSN
- Video: Easy DIY smoked meats at home
A charcuterie master shares his process for cold-smoking meat at home.
- Jetpacks about to go mainstream
- Weird things covered by home insurance
- Bing: 70 percent of adults report 'digital eye strain'