Demand for New Zealand wine at an all-time high
Global demand for New Zealand wine is at an all-time high, with total export value to importers and distributors reaching a record NZ$1.83bn, according to New Zealand Winegrowers.
The value of NZ exports has risen by 6% over the past year, which at retail level translates to over NZ$7bn of NZ wine sold around the world annually. The UK and US are leading the charge, with the US still New Zealand’s largest export market, accounting for over NZ$550m in exports.
New Zealand continues to benefit from its premium reputation around the world and remains the highest or second highest priced wine category in the US, UK, Canada and China.
“This year’s export results reflect the New Zealand wine industry’s strengths and reinforce our international reputation for premium, diverse and sustainable wines,” said John Clarke, chair of New Zealand Winegrowers.
NZ Winegrowers’ annual report marks the completion of the 2018 PwC strategic review – the first within the industry since 2011 – which offered a wealth of insights into the state of the New Zealand wine sector.
“The strategic review noted the continued steady growth of the industry and identified a range of challenges and risks that need to be addressed to maintain that trajectory and ensure all members have the opportunity to benefit,” Clarke said.
“As an industry we need to ensure our key focus is on enhancing sustainability initiatives. Sustainability is a cornerstone of the reputation of New Zealand wine, and is vital to the ongoing success of our industry,” he added.