Wine News: U.S. Takes Top Spot From France for First Time

In a major upset, the U.S. now leads France as the largest global consumer of wine.

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According to International Organization of Vine and Wine (OIV), total wine consumption in the U.S. surpassed that of France for the first time in 2013. Last year, French wine consumption dropped almost 7% to 28.1 million hectolitres, while U.S. wine consumption edged higher, hitting 29.1 million hectolitres, Reuters notes.

Worldwide wine output jumped 9.4% to 279 million hectoliters in 2013, thanks in part to surging production in Chile, New Zealand, Spain and South Africa. Still, total wine consumption dipped 1% to 239 million hectoliters. While the U.S. is now the world’s biggest wine market, Americans still drink a lot less, compared to the French.

On average, the French consume 1.2 bottles of wine per week. That’s six times as much as the average U.S. resident. The surprising wine news comes as Europeans cut back on the amount of wine they drink. Wine consumption across France, Italy and Spain is declining.

Between 2002 and 2011, the averaged per capita wine consumption in France tumbled more than 20%, while U.S. per capita consumption jumped 17%. While the latest wine news may not be appreciated in France, Americans appear to be growing ever fonder of wine.

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Article printed from InvestorPlace Media, https://investorplace.com/2014/05/wine-news-u-s-takes-top-spot-france-first-time/.

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