According to a new report by Rabobank’s Food & Agribusiness Research & Advisory Group, if wine consumption among Hispanics in the U.S. increased to an equal level with the average consumption across the broader U.S., consumption among Hispanics would increase by 50 million cases per year putting annual wine consumption in that demographic at 95 million cases annually. The results of the study also have implications for growth in international markets in Hispanic countries such as Mexico, where there is an increasingly affluent market of 111 million consumers. The report concludes that if the wine industry fails to engage the Hispanic population, it would lose market share in the fastest growing segment of the U.S. population.
To receive relevant news stories with summaries provided by GAI Research & Insight, subscribe to Global AgDevelopments, our free bi-weekly enhanced eNews service