2024 A Year of Growth and New Horizons for Wine – Zosimo Wine Critic

2024 A Year of Growth and New Horizons for Wine – Zosimo Wine Critic

As always, the end of the old year and the start of the new one are moments for reflection. Like every year, we are preparing to take a closer look at the wine market—both what it has been and, more importantly, what it is poised to become.

The overarching observation, before delving into the specifics of the analysis, is that global wine consumption has declined. While the drop between 2022 and 2023 was relatively modest (-2.6%), 2024 is showing signs of a more significant decrease, approaching double digits (-10%). This trend can be attributed to an overall market adjustment, which is reshaping wine consumption patterns, as well as a somewhat shortsighted approach to research and promotion in emerging markets.

The analysis, which identifies countries experiencing positive shifts this year, aligns closely with the enhancement and promotional strategies of Zosimo Wine Critic’s rating initiatives. These efforts are being translated into the following actions:

Russia

Despite the ongoing political and economic circumstances, Russia has experienced exponential growth. The Russian market for Italian wine alone has increased by 125%, rising from €45 million last year to €102 million in imports. While distribution and presence remain challenging, there has been a substantial increase in recognition of the Zosimo Wine Critic ratings.

China

The Chinese market remains stable, with wine imports slightly exceeding €100 million, maintaining the previous years’ consumption levels. However, there is a shift from general wine consumption (it’s worth noting that China remains the largest consumer of non-grape wines, a €16 billion market in 2022) toward a preference for high-quality wines. The emerging curiosity of Chinese consumers is driving significant developments in the consumption of highly-rated wines.

Additionally, Zosimo Wine Critic has expanded its presence by opening a new office in Shanghai’s commercial hub, dedicated to promotion throughout the Asian region. This initiative has fostered important partnerships with import and distribution groups, focusing on supporting small and medium producers whose high-quality wines appeal to this market.

Japan

While the Chinese market remains stable with significant growth potential, Japan is showing immediate appreciation for Italian wine. Imports have grown by 14%, reaching €62 million. The trend mirrors China’s in its preference for highly-rated, quality wines. The Japanese market’s focus on small producers and its admiration for high-quality Italian craftsmanship continue to drive growth.

Kazakhstan

We had predicted this growth years ago, and while it was initially met with skepticism from some producers, our efforts have paid off. The Kazakh market, though smaller at €8 million, has grown by 45%, showing the potential of this emerging market.

United States of America

If we were to describe our New York office for promotion and development in one word, it would undoubtedly be “Crazy.” The U.S. market is a mix of extremes—a place where frenzy coexists with attention to critical details. Overall, the market is stable but continues its insatiable pursuit of high-quality wines. Ratings are everything and serve as the ultimate benchmark for “drinking well.”

Our enthusiasm for America has led to the opening of a new office in Miami, complementing our New York operations. We are also finalizing a unique and exceptional program set to launch in early 2025.

India

“We predicted it!” This phrase perfectly captures the results achieved in India, where appreciation for wine is continuously expanding. Despite high import taxes, which are set to decrease in the coming years, India has experienced an extraordinary 600% growth, with imports rising from around €30 million to €170 million.

India has brought us immense satisfaction, with Zosimo Wine Critic ratings gaining recognition and our educational efforts serving as a bridge for many producers entering this market.

Brazil

If the term “effervescent” were to describe a market, it would undoubtedly apply to Brazil. Beyond traditional still wines, Brazil’s production of sparkling wines has become a standout, offering unique and high-quality options. The Brazilian market, vibrant as ever, is also seeing significant growth in imports, particularly for Italian wines. Ratings play a cultural and educational role, with a strong focus on origin and production regions.

United Kingdom

The UK market, once less inclined toward quality wines and marked by trends like canned wines, has evolved significantly. Previously catering primarily to younger consumers or those over 50, the market now appeals to a broad age range and has shifted toward an appreciation for quality and production regions.

The market has also stabilized, avoiding drastic fluctuations in demand. Zosimo Wine Critic has established a new promotional office in the heart of London to support this evolving and increasingly structured market.

Romania and Eastern Europe

Romania continues to lead the way in the evolving Eastern European markets. With over 20 years of presence, Zosimo Wine Critic has witnessed the stabilization of Romanian wine production, which now offers exceptional quality. Imported wine consumption is approaching 50% of the internal market, with Abruzzese wines emerging as clear favorites.
In 2025, our various offices across the region will be consolidated into a multifunctional headquarters in Bucharest to meet the growing needs of the market.

Conclusion

The year 2024 has been a positive one for our group. In addition to traditional markets, we’ve focused on emerging regions like Georgia, where we’ve promoted Georgian wines and are preparing to release a book, *Qvevri Sensation,* celebrating this remarkable wine-producing nation.

Other focus areas include Argentina, poised for import growth, Canada, undergoing legislative changes that could spur wine development, and Africa, with its rapidly evolving markets. Thailand and South Korea are under close observation for marketing opportunities, while Northern Europe is set to see major developments in the coming months.

As 2024 closes, our passion and drive remain stronger than ever. We continue to seek out and share every new enological story because when wine calls… we will always answer.

Happy 2025! Zosimo