Stat: Over-60s have largest positive impact on US wine sales

US – As the US wine industry braces for recession, Silicon Valley Bank has released its annual report, which expects wine sales volumes to stabilise in 2023 at current levels.

The State of the US Wine Industry Report reveals that total consumption of wine showed a second consecutive year of negative growth. Although younger people are drinking alcohol, their share of wine sales has fallen. The only area of growth in wine-drinking is among older Americans, specifically the over-60s.

Although interest in premium wines continues to grow across all demographics, there is an opportunity for premium wine brands. In our Wine Branding insight piece we revealed that by challenging the stereotype of wine as a stuffy or complicated drink, premium and bespoke wine brands can appeal to younger generations. Conversely, younger drinkers get excited about wine when they can make wine culture their own. They look for exciting ingredients, fun bottles and sustainable wine-making practices.