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Fortified Wine in the UK - Coursework Example

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The researcher of this essay will make an earnest attempt to evaluate and present the development of the fortified wine market in the United Kingdom. This study will also compare and contrast other markets with the United Kingdom’s fortified wine market…
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Fortified Wine in the UK
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Download file to see previous pages The present research has identified that some of the fortified wines that have been developed include; sherry, marsala, vermouth, port, Madeira, among others. Wine market has developed for centuries with the key players being Spain, France, Italy, Germany, and the USA. Other markets have developed since wine consumption has tremendously increased. The United Kingdom forms a perfect example of a country whose wine industry is slowly shaping up. The United Kingdom’s fortified wine market is one of the most complex and diverse in the whole world. This is because it imports wines from almost all the leading wine producers. The United Kingdom has transformed itself from the traditional spirit and beer drinking nation into one of the key wine export in the world. Wine consumption per capita has increased considerably over the years. Reports indicate that a study conducted by Key Note, a leading market survey institution, revealed that the United Kingdom market for wine had grown steadily from the year, 2005 to 2009. The report indicates that the peak of growth registered in 2007 was at 5.6%; while its lowest growth rate was 1.3% registered in 2009. This low growth rate in the wine market was as a result of the global recession that also affected the country. The report also indicated that the United Kingdom’s consumer spent lots of money in the year 2009. The total amount spent on wine accounted for 20% of all the money spent on household drinks. On the other hand, funds spent on wine were 28% of the total funds spent on alcohol. This report clarified the classification of Britons as wine and beer drinkers. The United Kingdom is the eighth largest consumer of wine. Since it does not produce its wine, it relies heavily on imports. Therefore, it imports most of its wine from Australia. This is attributed to the fact that Australian wine has a greater market penetration, loyalty, and frequency of purchase. ...Download file to see next pagesRead More
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