Foreign Wine? Yes Please says UK
The UK has never been a great supplier of its own wine, so it should come as no surprise that the country is the second largest consumer of foreign wine. A recent report showed that the US was the biggest consumer of wine from abroad, ahead of Britain.
Red and white wine are staples in the UK so it is no surprise to see it near the top of the list. However, when put into real figures – 3.43 billion euros spent on wine – it’s a bit staggering. Although Britain is a beer drinking country, it’s clear that wine is very high on the nation’s list of drinks. As wine is actually recommended for some health conditions, this is a good thing when compared with calorie rich beer.
One of the key driving factors behind the popularity of wine is its ready availability at reasonable prices. Most supermarkets sell good bottles at prices starting upwards of £5. This makes it a highly affordable option, and pegs it at a similar price point to beer and below spirits. It is also possible to buy wine in bulk online or at speciality stores. With vintages from all over the world shipped to the UK, there is an ocean of choice out there.
It will be interesting to see how wine sales fare as the taxing situation around alcohol continues to evolve. Higher rates may inflate prices slightly, however, it seems unlikely that this will dent sales too much. With wine already at a decent price, and given its incredible popularity, it’s very unlikely that demand will drop too much. If it does, there will certainly be other markets to pick up the slack: wine sales in China have soared of late. This is likely driven by the emergent middle class, which, like many British households, is turning to wine as their alcoholic drink of choice.