Wine Industry Struggles: Sales Plummet, Brands Fold
Durham News Today | 2 Min News | The Daily News Now! · The Daily News Now!
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Show Notes
Global wine consumption plummets, hitting markets worldwide, with US sales projected to fall another 7.2% in volume and 6.3% overall by years end. Top wineries saw 8% sales growth last year, while the bottom ones dropped 10.2%. Pacific Rim Winemakers, known for its Rieslings, filed for bankruptcy, joining big names like Vintage Wine Estates, Aloria Vineyards, and Sran Vineyards. Experts predict the market might bottom out by 2027 or 2028, setting up modest growth afterward.
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