In the following graph, Rabobank illustrates the massive opportunity in boosting wine sales to Hispanics in the near future.
by Andrew Adams
Source: Rabobank based on The Nielsen Co., U.S. Census Bureau, Wine Institute, 2013.
San Rafael, Calif.—While Americans are drinking more wine then ever, the U.S. Hispanic population still consumes far less wine than the general population. Tapping into that market could result in wineries selling an additional 50 million cases over the next 20 years, according to a new report by Rabobank’s food and agribusiness research group.
The report predicts Hispanics may buy 96.5 million cases of wine a year by 2033. The growth in just Hispanic consumption could account for as much as 40% of the total growth in wine consumption over the same period. “If U.S. wineries can develop strategies that positively affect the wine consumption rate of U.S. Hispanics, those strategies will have far reaching, positive benefits in other Hispanic markets,” said the report’s author and Rabobank’s wine industry analyst, Stephen Rannekleiv.
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