Wine Intelligence has announced their annual predictions for the wine category in 2020. Richard Halstead, COO Wine Intelligence, said that “wine is a risky business,” pointing to the challenges around climate change and global trade policy changes. Check out their reflections on the 2020 global wine industry.
1. Wine volume consumption will globally decline
The developed world is expected to drink less wine in 2020, but overall, the value of wine won’t be heavily impacted. There is a prediction that this trend could mean trouble for the manufacturers as well as brands dependent on selling more for smaller margins. However, it is also worth attention that consumers are looking for brands that are thoughtful and culturally interesting. Brands need to take actions in optimizing their story telling for the targeted market.
2. CBD wine will be explored further
With federal law in Australia not allowing cannabis outside of medicinal use, the ACT recently passed a bill conflicting with that comes into effect in 2020. Regarding this, mainstream acceptance or popularity of cannabis wine drinks will not necessarily be anticipated. However, more companies will start to explore it for the future of CBD drinks that remains unknown at the moment.
3. Greater investments will be put into creative packaging and serve formats
The prediction pivots around the idea that brands will focus more on labelling and designs that stand out to bust and more visually oriented consumers. This does not mean that classic designs don’t matter, though. The point is to outstand yourself with different icons and colouring that go against what else is on the self.
