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Wine sales in Russia to grow to 2017 (Russia)
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The wine industry in Russia is expected to grow up to 2017. According to the latest research by Canadean, the wine market is forecast to improve at a value compound annual growth rate (CAGR) of 2.8 per cent during 2012–2017 with volume growth being slightly lower, recording a 1.8 per cent CAGR.
The star of the Russian wine industry to 2017 is sparkling wine.
The category is forecast to see positive growth of 4.9 per cent for value and volume, leading up to 2017.
Canadean’s research shows sparkling wine is breaking out from being only consumed for celebratory occasions.
In 2012, the category recorded just over 25 per cent share of the overall market, whilst its value share was just below half.
Still wine accounted for 58.8 per cent of the volume of the Russian market and 40.8 per cent of its value, making it the largest category in 2012.
The CAGR is projected to be below the sector average, with a value growth of 1.0 per cent and volume of 1.1 per cent to 2017.
In contrast, fortified wine claimed a 17.9 per cent volume share in 2012, but the category is forecast to see declining demand for both value and volume; a CAGR of -0.4 per cent and -0.3 per cent respectively.
Russian consumers appear to be losing interest in fortified drinks.
Canadean provides in-depth market research across the fast-moving consumer goods (FMCG) sector, including packaging, ingredients, soft drinks, beer, retail, foodservice, wines and spirits, health and beauty and food.
Canadean specialises in conducting online survey panels, producing in-depth market insight country reports through qualitative and quantitative research.