The thought of a lack of international wine supply is enough to make any tippler turn to the bottle. And there are more of you than you might think.
For those who do like a good drop, this is the reality with the world facing a wine shortage due to global demand significantly dwarfing supply, a report has revealed.
America’s Morgan Stanley financial services, who undertook the research, found that demand for wine “exceeded supply by 300m cases in 2012”, the biggest gap in supply and demand in more than 40 years on record.
The BBC reports that there are currently more than 1 million wine producers worldwide, making about 2.8 billion cases of wine each year.
However the Stanley Morgan report estimates the global wine consumption has been steadily rising in the past 15 years, currently sitting at about 3bn cases each year.
The main contributors to the shortfall in supply is claimed to be ongoing vine pull and poor weather in Europe
While the production of wine in Europe has been on the drop thanks to poor conditions, “new world” wine producers including the US, Australia, New Zealand, Argentina, Chile and South Africa have seen healthy growth in their wine production.
World’s biggest wine lovers
- France, US – both 12%
- Italy, China – both 9%
- Germany – 8%
- UK, Russia – both 5%
- Spain, Argentina – both 4%
Source: Morgan Stanley
