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Sales grow despite economy
27 August, 2008
Page 9
The US wine market showed solid growth of around 4 per cent in 2007, up 12 million cases to 314 million cases, according to Jon Fredrikson, wine market analyst and publisher of the Gomberg Fredrikson Report.
Imports continued to show strong gains, up eight million cases, growing twice as fast as the domestic market.
Imports now hold 31 per cent of the US wine market, up a round 9 per cent for the year. Fredrikson said that could hit 33 per cent by the end of 2008.
He said the downturn in the US economy at year's end didn't seem to be hurting the wine market. "In my experience, people are going to continue to drink wine , although they may trade down," he said.
Fredrikson said he was optimistic about continued growth in the US market. He estimated that at the end of 2007, total wine sales in the US were $29 billion.
Imports continued to show strong gains, up eight million cases, growing twice as fast as the domestic market.
Imports now hold 31 per cent of the US wine market, up a round 9 per cent for the year. Fredrikson said that could hit 33 per cent by the end of 2008.
He said the downturn in the US economy at year's end didn't seem to be hurting the wine market. "In my experience, people are going to continue to drink wine , although they may trade down," he said.
Fredrikson said he was optimistic about continued growth in the US market. He estimated that at the end of 2007, total wine sales in the US were $29 billion.
