For the seventh time, Geisenheim University has surveyed international wine industry experts on current trends and future developments in the international wine markets. More than 2,000 industry insiders participated in this year’s survey for the current ProWein Business Report 2023 “The international wine sector: Ways out of the crisis”. The results will be published exclusively by ProWein on 16 January.
The industry is eagerly awaiting the experts’ assessment of the future development of the wine trade and the international wine markets. The ProWein Business Report will publish the current development of the unique time series on industry sentiment. What do industry experts consider to be the most important challenges at the moment and how have they changed since last year?
The international wine industry is currently facing the challenges of the economic slowdown and the global oversupply of wine. The ProWein Business Report 2023 quantifies their impact on the current economic situation of companies in the wine industry and reports on the changes companies expect for 2024. The new report will detail the specific changes in companies’ sales, costs and profits in 2023, as well as companies’ estimates of how costs will evolve in 2024. As it does every year, the ProWein Business Report will include the top list of export markets and wine origins that producers and traders believe will be the most attractive in 2024.
The current changes in the international wine markets are characterised by very different developments for popular and premium wines. The ProWein Business Report 2023 will report first-hand on the specific assessments of industry participants as to how they see sales developing in the entry-level, mid-price and premium segments. Of particular importance are the industry experts’ expectations for the future development of these three market segments, which we will report on.
Industry players have responded to the current crisis with a variety of operational and strategic measures. The ProWein Business Report 2023 will provide information on the specific corporate actions of companies involved in the production and trade of wine.
What steps does the industry believe are necessary to achieve a new market balance between supply and demand for wine in the medium term? How can wine as a product successfully compete with other beverages in the future? The new ProWein Business Report 2023 will report on the eagerly awaited opinions of industry experts on these two important questions.
