Wine Market Proving Recession-Proof

CHICAGO—Despite an ailing economy, the majority of American adults will celebrate the holiday season with a nice glass of wine. According to new research from Mintel, 67% of survey respondents say they will partake in wine on holidays and special occasions while at home; another 58% plan to drink wine at home with dinner on an ordinary night.

The wine market has grown 20% from 2004 to 2009 despite the recession. However, shattered consumer confidence caused a 3.2% decline during the height of the financial crisis in 2008. As consumers begin to see signs that the worst of the recession is behind them, Mintel forecasts the wine market will stabilize and increase by 2.1% in 2009.

“Despite the recent decline, the future of the wine market looks bright, at least for moderately priced segments,” said Sarah Theodore, senior food and drink analyst, Mintel. “Value wines have helped consumers rethink their perceptions about wine. Domestic wines have proven to be somewhat recession-proof as unpretentious, economy-priced wines are fueling recent sales.”