The California wine industry is closer to balancing supply and demand while still needing to adjust to changing consumer behaviors and global market pressures.
That was the key message experts unpacked Wednesday before hundreds of industry professionals at the Unified Wine & Grape Symposium in Sacramento. They revealed sobering statistics about a continued oversupply of wine and grapes, and explored strategies to navigate what many consider the most challenging period in the industry’s modern history.
The panelists outlined three key requirements for market recovery: elimination of the wine inventory bubble, reduction of bearing acreage to sustainable levels, and stabilization of wine shipments to the marketplace…