Wine industry “will recover” after the coronavirus only to 2022 forecast
KIEV. May 12. UNN. Pandemic coronavirus will cause damage to the wine industry. The industry will recover, in the best case, no earlier than 1.5 years. This was stated by the partner of American company “Gomberg-Fredrickson & partners” (Gomberg Fredrikson & Associates) John Moramarco, reports UNN with reference to winebusiness.com.
“This year will be very difficult for the wine industry and its representatives,” he said.
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Currently, wine is quite popular among consumers all over the world product. In the past year alone, U.S. residents spent on wine 75 billion. Is by 5% more than in 2018.
However, predictions Moramarco paint a different picture for 2020.
“Current modelling shows that consumer spending will be reduced by 14% to 64.3 billion dollars.”, — said the expert.
It is expected that the wine industry “will recover” only by 2022.
“After some time, when the world will compete COVID-19, when people will return to the usual lifestyle, will travel,” added Moramarco.
As he wrote the UNN, the Ukrainian Koktebel wine brand entered the top-5 most recognizable among domestic TM.
Earlier, famous Ukrainian pediatrician Eugene Komorowski spoke about the benefits of wine in quarantine.