Silicon Valley Bank Releases 24th Annual State of the US Wine Industry Report
Silicon Valley Bank (SVB), a division of First Citizens Bank, released its 2025 State of the US Wine Industry Report, revealing significant market shifts. The report highlights a demand-based correction in the wine industry, with total wine consumption decreasing by volume. While the premium wine segment showed resilience with small single-digit sales declines, the top quartile of wineries achieved 22% sales growth.
Key findings include: total wine category sales ending 2024 with negative volume growth between -3% and -1%, weighted average winery revenue decline of 3.4%, and bottom quartile seeing a 16% revenue decline. No- and low-alcohol wine, white wine, and prosecco experienced positive growth, with white wine outpacing red wine sales for the first time in years. The market conditions are creating the most accessible bottle pricing in 30 years.
The report emphasizes a critical generational shift, with younger consumers showing different consumption patterns and often choosing alternatives to wine. Growing consumption share in the 30-45 segment is deemed important for industry recovery.
Silicon Valley Bank (SVB), una divisione di First Citizens Bank, ha pubblicato il suo Rapporto sullo Stato dell'Industria del Vino negli Stati Uniti per il 2025, rivelando significativi cambiamenti di mercato. Il rapporto sottolinea una correzione basata sulla domanda nell'industria del vino, con un calo del consumo totale di vino in volume. Sebbene il segmento dei vini premium abbia mostrato resilienza con un lieve calo delle vendite a un cifra, il quartile superiore delle cantine ha registrato una crescita delle vendite del 22%.
I risultati chiave includono: vendite totali della categoria vino che terminano il 2024 con una crescita negativa in volume compresa tra -3% e -1%, un calo medio ponderato dei ricavi delle cantine del 3,4% e il quartile inferiore che vede un calo del 16% dei ricavi. I vini a bassa e senza alcol, il vino bianco e il prosecco hanno registrato una crescita positiva, con il vino bianco che supera per la prima volta in anni le vendite del vino rosso. Le condizioni di mercato stanno creando i prezzi delle bottiglie più accessibili in 30 anni.
Il rapporto sottolinea un cambiamento generazionale critico, con i consumatori più giovani che mostrano modelli di consumo diversi e spesso scelgono alternative al vino. La crescente quota di consumo nel segmento 30-45 anni è considerata importante per la ripresa del settore.
Silicon Valley Bank (SVB), una división de First Citizens Bank, publicó su Informe sobre el Estado de la Industria del Vino en EE. UU. para 2025, revelando cambios significativos en el mercado. El informe destaca una corrección basada en la demanda en la industria del vino, con una disminución en el consumo total de vino en volumen. Aunque el segmento de vinos premium mostró resiliencia con pequeñas caídas en las ventas de un solo dígito, el cuartil superior de las bodegas alcanzó un crecimiento de ventas del 22%.
Los hallazgos clave incluyen: ventas totales de la categoría de vino que terminaron 2024 con un crecimiento negativo en volumen entre -3% y -1%, una disminución promedio ponderada de los ingresos de las bodegas del 3.4%, y el cuartil inferior que experimenta una caída del 16% en los ingresos. Los vinos sin alcohol y bajos en alcohol, el vino blanco y el prosecco experimentaron un crecimiento positivo, con el vino blanco superando las ventas del vino tinto por primera vez en años. Las condiciones del mercado están creando los precios de botella más accesibles en 30 años.
El informe enfatiza un cambio generacional crítico, con los consumidores más jóvenes mostrando patrones de consumo diferentes y a menudo eligiendo alternativas al vino. La creciente participación de consumo en el segmento de 30 a 45 años se considera importante para la recuperación de la industria.
실리콘밸리은행(SVB)은 퍼스트 시티즌스 은행의 한 부서로, 2025년 미국 와인 산업 현황 보고서를 발표하며 상당한 시장 변화가 있음을 드러냈습니다. 보고서는 와인 산업의 수요 기반 조정을 강조하며, 총 와인 소비가 양적으로 감소하고 있음을 보여줍니다. 프리미엄 와인 부문은 소폭의 판매 감소에도 불구하고 지속적인 모습을 보였으며, 상위 25%의 양조장은 22%의 판매 성장을 기록했습니다.
주요 발견 사항으로는 2024년 와인 카테고리의 총 판매량이 -3%에서 -1% 사이의 부정적인 성장세를 보였고, 양조장 평균 수익이 3.4% 하락했으며, 하위 25%의 양조장은 16%의 수익 감소를 경험했다는 것입니다. 무알콜 및 저알콜 와인, 화이트 와인, 그리고 프로세코는 긍정적인 성장을 보였으며, 화이트 와인의 판매가 해를 거듭할수록 처음으로 레드 와인을 초과했습니다. 시장 상황은 30년 만에 가장 저렴한 가격의 와인을 제공하고 있습니다.
보고서는 젊은 소비자들이 다른 소비 패턴을 보여주고 있으며 종종 와인 대신 대안을 선택하는 등 중요한 세대 변화가 일어나고 있다고 강조합니다. 30세에서 45세 사이의 소비가 증가하는 것은 산업 회복에 중요하다고 여겨집니다.
Silicon Valley Bank (SVB), une division de First Citizens Bank, a publié son rapport sur l'État de l'Industrie du Vin aux États-Unis pour 2025, révélant des changements significatifs sur le marché. Le rapport met en évidence une correction basée sur la demande dans l'industrie viticole, avec une diminution de la consommation totale de vin en volume. Bien que le segment des vins premium ait montré de la résilience avec de légères baisses des ventes à un chiffre, le quartile supérieur des caves a connu une croissance des ventes de 22 %.
Les principales conclusions incluent : des ventes totales de la catégorie du vin se terminant en 2024 avec une croissance négative en volume entre -3 % et -1 %, une baisse des revenus moyens pondérés des caves de 3,4 % et un quartile inférieur enregistrant une baisse de 16 % de ses revenus. Les vins sans alcool et à faible teneur en alcool, le vin blanc et le prosecco ont connu une croissance positive, avec le vin blanc dépassant pour la première fois depuis des années les ventes de vin rouge. Les conditions du marché créent des prix de bouteilles les plus accessibles depuis 30 ans.
Le rapport souligne un changement générationnel critique, les jeunes consommateurs montrant des modèles de consommation différents et choisissant souvent des alternatives au vin. La part de consommation croissante dans le segment de 30 à 45 ans est jugée importante pour la reprise de l'industrie.
Silicon Valley Bank (SVB), eine Abteilung der First Citizens Bank, hat ihren Bericht zum Stand der Weinindustrie in den USA für 2025 veröffentlicht und dabei bedeutende Marktverschiebungen offengelegt. Der Bericht hebt eine nachfragestützte Korrektur in der Weinindustrie hervor, wobei der gesamte Weinkonsum in Volumen zurückgeht. Während das Premium-Wein-Segment Widerstandsfähigkeit mit kleinen Rückgängen im einstelligen Bereich zeigte, erzielten die obersten 25% der Weingüter ein Verkaufswachstum von 22%.
Schlüsselergebnisse umfassen: den Rückgang des Gesamtweinverkaufs im Jahr 2024 mit negativem Volumenzuwachs zwischen -3% und -1%, einen gewichteten durchschnittlichen Umsatzrückgang der Weingüter von 3,4% und der untere Quartil, der einen Umsatzrückgang von 16% verzeichnet. Weine mit niedrigem und ohne Alkohol, Weißwein und Prosecco verzeichneten ein positives Wachstum, wobei Weißwein die Verkaufszahlen von Rotwein zum ersten Mal seit Jahren übertraf. Die Marktbedingungen schaffen die zugänglichsten Flaschenpreise seit 30 Jahren.
Der Bericht betont einen entscheidenden generationsbedingten Wandel, bei dem jüngere Verbraucher andere Konsummuster zeigen und oft Alternativen zum Wein wählen. Der wachsende Konsumanteil in der Altersgruppe von 30 bis 45 Jahren wird als wichtig für die Erholung der Branche angesehen.
- Top quartile of wineries achieved 22% revenue growth
- Growth in no/low-alcohol wine, white wine, and prosecco segments
- Most accessible bottle pricing in 30 years for consumers
- Total wine category sales declining between -3% and -1%
- Average winery revenue decline of 3.4%
- Bottom quartile experiencing 16% revenue decline
- Wholesale-heavy wineries performing worse than direct-to-consumer brands
- Expected decrease in tasting room visitation for 2025
- Supply exceeding demand in California and Washington markets
Insights
The 2025 SVB Wine Industry Report presents a pivotal moment for the US wine industry, revealing structural challenges that extend beyond cyclical market fluctuations. The data points to a fundamental reset in the premium wine sector, with significant implications for industry stakeholders and investors.
Several critical trends warrant attention:
- Market Polarization: The stark contrast between top-quartile performers (
22% growth) and bottom-quartile wineries (-16% decline) suggests a market consolidation phase. This divergence typically creates opportunities for stronger players to acquire distressed assets at attractive valuations. - Distribution Model Evolution: Direct-to-consumer focused brands outperforming wholesale-heavy operations indicates a structural shift in distribution economics. This trend could accelerate industry consolidation as smaller players struggle to maintain wholesale relationships.
- Supply-Demand Imbalance: Oversupply in California and Washington points to potential asset write-downs and consolidation opportunities in these regions. Oregon's better supply-demand balance might attract premium valuations and investment interest.
- Demographic Headwinds: The generational shift from high-consuming older demographics to more abstinent younger consumers represents a secular challenge that will require fundamental business model adaptations.
For First Citizens Bank (FCNCA), which now owns SVB's wine division, these trends suggest both risks and opportunities. The bank's specialized wine industry expertise positions it well to navigate the industry reset, potentially capitalizing on consolidation opportunities while managing credit risk in its existing portfolio. The direct-to-consumer trend could also create opportunities in payment processing and financial services tailored to this channel.
This market reset likely marks the beginning of a multi-year transformation period, with implications for valuations, lending practices and industry structure. Investors should monitor for signs of accelerated consolidation and adaptation to new consumer preferences, particularly in direct-to-consumer channels and alternative product categories.
Wine industry reset is here, fueled by a generational shift to younger consumers redefining consumption patterns
The report uncovered several positive market indicators, despite an overall decline in global wine demand in the last year. The premium wine segment once again demonstrated resilience with small, single-digit sales declines overall, and the top quartile of wineries producing average sales growth of
"The wine industry is undergoing a significant change, marking the first demand-based correction in three decades," said Rob McMillan, Silicon Valley Bank Wine Division founder and author of the report. "We have been predicting a generational shift for many years, and the 2025 report data solidifies the wine industry is now living that reality. Different parts of the industry will heal at different times, but we can expect a continued downturn for some time before we reach flat growth.
No- and low-alcohol wine, white wine and prosecco experienced positive growth, with white wine outpacing red wine sales for the first time in many years. According to the report, varietal shifts from red to white could be a forward indicator that a rotation to younger consumers is underway. More broadly, the youngest consumers are increasingly abstaining from wine altogether or choosing alternatives, all trends expected to persist into 2025 and beyond.
"Consumers are not changing their minds about wine. Older, 60+ year-old consumers who historically index higher for wine purchases are sunsetting, replaced by younger consumers who index lower for wine and prefer other drink categories," said McMillan. "To restore the balance between demand and supply, growing consumption share with consumers in the 30-45 segment is critical. The industry can shorten the recovery by evolving marketing and promotion strategies to meet that consumer at their value points."
The 2025 SVB report examines the latest consumption, pricing and sales data as well as the most promising wine industry marketing strategies. It provides an in-depth analysis of the key trends and data impacting the US wine industry:
- Total wine category sales will end 2024 with negative volume growth, between minus
3% and minus1% . - The weighted average of wineries produced a
3.4% revenue decline, with the top quartile seeing an average of22% revenue growth, and the bottom quartile seeing a16% revenue decline. - Wholesale-heavy wineries fared worse than direct-to-consumer-focused brands.
- Tasting room visitation is predicted to be slightly lower in 2025 compared to 2024.
California - andWashington -planted acreage exceed demand whileOregon is closer to being in balance with demand.42% of winery survey respondents said they will take a small price increase in 2025, which may prove difficult in an over-supplied market with prevalent discounting.
Silicon Valley Bank will host a live webinar to discuss the annual report and state of the wine industry on January 23rd at 9:00 a.m. PST. The panel will include Rob McMillan at Silicon Valley Bank, Kaleigh Theriault, Beverage Alcohol Thought Leader at NielsenIQ, Alison Smith Story, Co-Founder of Smith Story Wine Cellars, and Peter Yeung, Wine Industry Consultant. Register for the live webinar here. A replay of the discussion will be available after the event.
Read the full 2025 State of the Wine Industry report here: www.svb.com/trends-insights/reports/wine-report.
Silicon Valley Bank's Wine Division
Founded in 1994, SVB's Wine Division specializes in commercial banking for premium wineries and vineyards and the industries that support them. With the largest team of commercial bankers dedicated to the wine industry of any bank nationwide, SVB's Wine Division has offices in
About Silicon Valley Bank
Silicon Valley Bank (SVB), a division of First Citizens Bank, is the bank of some of the world's most innovative companies and investors. SVB provides commercial banking to companies in the technology, life science and healthcare, private equity and venture capital industries. SVB operates in centers of innovation throughout
About First Citizens Bank
First Citizens Bank helps personal, business, commercial and wealth clients build financial strength that lasts. Headquartered in
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FAQ
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