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8/09/2017

Poland, Taiwan and the UAE wine markets upgraded

The latest iteration of the Global Compass 2017 report, recently published by Wine Intelligence, has changed the status of Poland, Taiwan and the United Arab Emirates from Emerging markets to Growth markets, in an annual ranking of the world’s 50 most attractive wine markets.

Under the Wine Intelligence Compass market classification framework, Growth markets are characterised by mid- to -high-level market volumes showing sustained growth and strong growth of imported wines. Despite relatively low per capita consumption, consumption is increasing and wine is establishing itself as a mainstream product.

Growth markets represent a fifth of global consumption and have experience a CAGR of 1.86% in the period 2012–16. By contrast, Mature and Established markets offer more limited growth potential as wine is typically a highly competitive category, and experiencing declining volumes. France, Italy and Portugal represent Mature markets, while the United Kingdom, Switzerland and Finland are considered as Established markets where strong historical growth is tailing off.

Poland, Taiwan and the United Arab Emirates have all experienced slow but stable GDP growth and increased still wine consumption volumes. While Poland clocks in a healthy 3.8% CAGR in this period, Taiwan and the United Arab Emirates show considerable growth with 6% and 6.1% respectively. Wine Intelligence research suggests that as disposable income increases, more prospective wine drinkers are becoming consumers and wine is becoming more mainstream.

Wine Intelligence Chief Operating Officer, Richard Halstead, comments: “Economically speaking, Poland has become one of the success stories of the EU. Seismic economic changes have been mirrored by a shift in consumption; once a market dominated by domestic beer and spirits, drinkers are now more open to wine, principally from other EU nations, but with an important New World presence as well. Wine still has connotations of elegance and finesse, but there is increasing acceptance of wine as a mainstream beverage, particularly in the on-trade.”

“Taiwan and the UAE also truly deserve their promotion to the Growth category. After sustained economic growth and impressive still wine volume growth, we can expect more developments in the coming years,” he said.

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WID 2017