With wine consumption plummeting to a 27-year low, the industry is trying to make people feel better about indulging in a bottle of vino.
Driving the news: Wine producers around the world financed a global marketing campaign last month called ‘Come Over October’, encouraging people to invite friends over for a couple of drinks.
- The campaign was an effort to push back on a mounting wariness of alcohol and the growing popularity of things like “Dry January” and “Sober October,” which its organizers criticized as “self-righteous.”
Why it’s happening: A glass of Pinot might be the drink of choice for Baby Boomers, but experts say younger generations — who are already drinking less as it is — haven’t taken to wine in the same way.
- Global wine consumption last year fell to 221 million hectoliters, down from ~247 million hectoliters in 2017. That works out to about 3.5 billion fewer bottles drunk.
- In Canada, wine was the only beverage category that lost market share last year, reaching its lowest level in over a decade.
What’s next: With more consumers turning away from booze, winemakers are also trying to carve themselves a new home in the US$1.8 trillion non-alcoholic beverage market, a space that has so far been dominated by beer and cocktails.—LA