- The California wine industry, having survived several vineyard fire sales and a glut of excess inventory, is seeing signs of a post-recession rebound.
From the Los Angeles Times:
After two years of sluggish wine sales, consumers are starting to reach for — and spend more on — their favorite vintages. And the California wine industry, having survived several vineyard fire sales and a glut of excess inventory, is seeing signs of a post-recession rebound.
Domestic wine retail sales grew 7% in 2010 over the previous year, according to the Wine Institute in San Francisco. California wine producers, who make 90% of wine bottled domestically, saw retail sales grow 1% from the previous year, to $18.5 billion. And U.S. wine exports also jumped to a record $1.14 billion in 2010, up nearly 26% from 2009.
For the first time, the U.S. in 2010 consumed more wine than France. While the French still drink far more wine per capita than Americans, the U.S. — with its much larger population — has more people pouring a glass of Cabernet Sauvignon or Chardonnay.
For more, see: U.S. wine sales rebound