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Wine Consumption is Expected to grow in Eastern Europe: Ken Research

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The wine market in the Eastern Europe is promising growth in the years to come. Poland is an emerging market and it has the lowest wine consumption in Eastern Europe. – PowerPoint PPT presentation

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Title: Wine Consumption is Expected to grow in Eastern Europe: Ken Research


1
Wine Consumption is Expected to grow in Eastern
Europe Ken Research
2
There was a decline in Eastern European wine
market due to global economic crisis but soon it
is expected to rebuild the growth. Eastern
European market offers promising long term growth
opportunities. Wine consumption is less in
Eastern Europe as compared to Western Europe and
other countries. Consumption of other alcoholic
drinks and beer is more as compared to wine. Wine
consumption is expected to increase and there are
various reasons for the same which are defined in
the report.
3
Overview of wine consumption in Eastern
Europe Due to global economic crisis, European
wine consumption declined by 1.2 annually
between 2010-2014. Average per capita wine
consumption in Europe remained fairly stable
during 2010-2014. In Eastern Europe, Wine is
capturing more market share in comparison with
beer and other alcoholic drinks. Many Eastern
European countries recorded market growth in this
period. Here are some of the growth rates
according to Eurostat Lithuania (11 annually),
Estonia (8.1 annually), Latvia (2.1 annually)
and Romania (1.6 annually). Consumption of white
and red wine increases during Christmas and New
Years Eve while sparkling wine is consumed the
most during holiday season at the end of the
year. Wine is considered as a conspicuous good
and is consumed large quantities in parties.
Youth is choosing western lifestyle thus adding
to the consumption of wine. Consumption of wine
is positively related to the number of parties
held during a year.
4
  • Most of the European countries are not able to
    satisfy the domestic demand and thus imports.
    Some countries specialize, in particular, Wine
    and import other types of wines from resourceful
    countries. Eastern European countries export wine
    to Western European countries because the
    tradition of drinking wine in Eastern European
    countries is different from Western European
    countries and whatever they produce, they end up
    with surplus wine. Red wine is consumed the most
    in European countries and thus among the total
    imports red wine constitutes the maximum share.
  • Key factors driving wine consumption in Eastern
    Europe
  • Youth and adult population
  • Huge population base is fascinated towards
    western culture
  • Increase in disposable income
  • Increase in the number of occasions or parties

5
Future of market for Wine The wine market in the
Eastern Europe is promising growth in the years
to come. Poland is an emerging market and it has
the lowest wine consumption in Eastern Europe. It
exports the wine because the demand is too less
from what is produced but it is expected that the
demand is going to increase due to young
populations attraction towards western culture.
In Czech Republic, market for wine is somewhat
mature than that of Poland. Significant amount of
wine is produced and consumed here. Both the
countries offer promising growth markets in
future. To know more on WINE CONSUMPTION VOLUME
AND GROWTH FORECAST TO 2021-EAST EUROPE click on
following link https//www.kenresearch.com/food-
beverage-and-tobacco/alcoholic-beverages/wine-cons
umption/32040-11.html
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Related links Fortified Wine Consumption Volume
and Growth Forecast to 2021-East Europe Spirits
excluding FABs Fort Wine Consumption Volume and
Growth Forecast to 2021-East Europe Contact Ken
Research Ankur Gupta, Head Marketing
Communications query_at_kenresearch.com 91-124-42302
04
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