If you go to a cocktail party, or happy hour, or dinner event, what would you choose to drink: Wine, whiskey, beer or cocktail? It turns out, as we discovered from Dr. Kym Anderson’s global wine, beer and spirits data, that wine consumption has been losing shares to beer and especially more recently, spirits since the early 1960s. Beer and spirits grew their market share over the next several decades while wine executed a steady decline. As shown in Figure 3 below, the trend of world wine consumption to production ratio has been increasing since the 1990s, suggesting increasing scarcity of wine. [4] “World Wine Production to Hit 50-Year Low,” BBC News, http://www.bbc.com/news/business-41728536, October 24, 2017.

Source: Forbes March 02, 2018 23:15 UTC