Tally-Ho! British To Track Down, Surpass French In Wine Spending

 


The French are the superior wine producers, but the British don't mind floating the cost.
 
The Financial Times is reporting that Britons will spend more on wine in the next four years than the French, according to a recent study by Vinexpo and the International Wine and Spirits Record. 
 
“British wine lovers are set to outspend their French counterparts as they develop a taste for more expensive bottles,” the Times reported.
 
The wine market in the UK took a hit during the recession this past six years, “the value of the UK wine market rose 15 percent to $16.1 billion,” the Times noted.
 
This growth may be the result of the country's particular taste for premium wines, those which cost between seven and 14 pounds, the article stated.
 
Analyst Chris Wisson, an employee of market research company Mintel, told Financial Times that the trend emphasizes quality over quantity.
 
“This is part of a wider trend of consumers drinking less, but when they do drink, some are looking for something a bit more special,” he said. 
 
The Financial Times also noted that wine prices in the United Kingdom tend to be higher because “higher taxes make wine more expensive.”
 
Wisson told the publication that “taxes on wine have almost doubled over the past decade.”
A graph provided by Financial Times indicated the results of the Vinexpro/International Wine and Spirits Record study.
 
The United States is predicted to remain the top wine market in the world in 2018, when they are expected to spend about $33 billion on wine.
 
The United Kingdom is projected to be second with about $17 billion in spending while the French are projected to finish just behind the Britons.
 
Fourth on the list is Italy, who is China and Hong Kong, who are predicted to finish just behind the French to capture the fourth spot on the list.
 
According to the research, the following countries will round out the top-10, respectively: Italy, Germany, Canada, Australia, Russia and Japan.
 
While the United States spends the most money on wine, the Times noted that, aside from Argentina, Europe still reigns supreme in per-capita wine consumption.
 
“Italy and France remain the biggest per capita consumers of wine in the world, and Europeans the most dedicated wine drinkers,” the Times reported. “Argentina aside, all the top 10 countries for per capita consumption are in Europe.”
 

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