A report researchers at Morgan Stanley released this week shows a global wine shortage could be on the horizon. The report shows wine consumption continues to outpace production and it’s projected to only get worse.
But some are saying shortage, which is mainly being felt in Europe, could be good news for Indiana wineries hoping to capture a larger market share.
U.S. growers make up about 8 percent of the world’s wine, and U.S. consumers drink about 12 percent of it. That’s led to importing from other countries — chiefly Australia, Central America and South America. Europe produces about 57 percent of the world’s wine, but adverse weather has affected how much wine is on the market.
“I don’t believe that the shortage is going to have any impact on what people are able to buy here in the states,” says Jeanette Merritt, marketing director for Indiana Wines.
Merritt says many Hoosiers are already drinking local wines, but the European wine shortage could be an opportunity for Indiana winemakers to reach a larger market.
“I see this as an opportunity for Indiana wineries to be able to fill maybe some of those needs overseas — where maybe if China can’t get a wine that they wanted to be able to get, maybe an Indiana winery steps up and has that opportunity,” says Merritt.
Bill Oliver, President of Oliver Winery in Bloomington is confident that Indiana is safe from the shortage.
“Basically we’re good on supply, so no we’re not dipping into reserves,” says Oliver. “We’re in great shape.”