1、 BMO Wine Market Report2026Wine Industry PartnershipBMO WINE&SPIRITS GROUPBAKER TILLY BW166 AND GOMBERG,FREDRIKSON&ASSOCIATES WINEBUSINESS ANALYTICSAmong U.S.wineries,71%expect the market to have bounced back within three years and 38%are confident it could take less time.2026 BMO WINE MARKET REPORT
2、1PrefaceThe third edition of this annual report finds global trade strained even further than it was at this time last year.While refunds are expected from tariffs enacted by the U.S.government,the impact on trade in North America and the rest of the world was immediate and will have repercussions t
3、hat will be felt for decades.The trade disputes of last year have been followed by new fighting between old enemies in the crossroads of global trade.While a fragile ceasefire was in place as this report was being produced,the conflicts in the Middle East have already led to stunning increases in fu
4、el prices that have further eroded consumer confidence.Economic anxiety was a key factor in the 2024 U.S.election,and American consumers remain wary and are growing more anxious as companies shed workers because of flat earnings and efficiencies realized through artificial intelligence.During the la
5、st economic crisis the Great Recession,which ended nearly 20 years ago Americans generally shifted to more affordable wines but their total consumption remained the same.That was followed by a steady shift to more expensive wine as the economy recovered and this premiumization trend persisted until
6、2019.The next year saw a global pandemic and the historic disruptions have continued since.These disruptions have come as American wine consumption has declined even as spending has increased.An acrimonious trade dispute between Canada and the U.S.saw the single most valuable export market for Ameri