Wine consumption to increase in Finland by 2016: Report
Wine consumption in Finland is expected to increase 7.2% from 2011 to 2016, finds a new study by UK-based research firm Canadean – Wines & Spirits.
According to the report, 'The Future of the Wine Market in Finland, to 2016,' the compound annual growth rate (CAGR) will post a drop to 1.41% in 2011-2016 as against 3.15% in 2006-2011.
Still wine will continue to lead the market, with the consumption rate showing a steady nominal increase year on year in the forecast period.
However, its share in the overall wine market is going to remain almost stagnant at around 88% during 2011-2016. In 2006, still wine's share in the overall wine market was 87.1%
Its compound annual growth rate was 3.30% in 2006-2011, which will see a sharp decline of 56.6% to 1.43% in the forecast period.
The compound annual growth rate of sparkling wine is predicted to be at 1.46%, while still wine trails behind at 1.43% in 2011-2016. However, when compared with the reviewed period, there is a fall of approximately 45% in the forecast period.
The share of sparkling wine in the overall wine market was 10.3% in 2006. There was a nominal growth of 10.4% in 2011, but this share will remain stagnant even at the end of the forecast period.
Consumption of sparkling wine is likely to grow 7.6% by 2016 from 2011. However, in the reviewed period, the consumption increased 17.2% from 2006 to 2011.
The CAGR of fortified wine is expected to be at 0.30% in 2011-2016 as against -2.99% in the reviewed period due to steady decline in the consumption levels as Finnish buyers favoured still wines.
For most of the forecast period, consumption levels of this wine variant will remain stagnant and will pick up marginally in the last two years.
Fortified wine had 1.9% share in the overall wine market in 2011. Although the consumption level of this variant would grow, the overall share is likely to decline to 1.8% by 2016 as consumers would show their preference for the other two wines.
Click here for more details of the report.