Proving that the wine industry in the UK is on the up, an impressive 80 new vineyards opened in 2017. Fuelled by an ever-growing demand, and financed by wealthy investors, the number of vineyards opened last year as a new record for a single year.
These figures were up by 25% on the year before and are more than twice the numbers that opened up in 2013, according to recent research.
Hedge fund investors
Much of the investment into these new vineyards can be traced to hedge fund managers who, along with City bankers, are funding the planting of vineyards across the south.
Many of the English sparkling wines in particular have beaten rivals in taste tests. Earlier in 2018, English wines scooped 128 medals at the International Wine Challenge, which means the UK is among the top ten wine producing countries.
Among these medals were 12 gold awards, 58 silver medals and 58 bronze. One of the gold medal winners was a chardonnay hailing from the Lime Bay Winery in Devon.
Quality over quantity
So, why is there an increase in investment in the UK’s wine industry. According to UHY Hacker Young, the accountancy group that carried out the research, it’s down to quality rather than volume.
They said: “Vineyards within the UK have become increasingly fashionable among City workers looking to invest their bonuses. English wine continues to be popular due to its high quality. UK vineyard owners typically aim for quality rather than volume when producing wine as British weather does not allow the growth of large yields.”
Low pound boosts popularity
The way English wine has been priced has also helped to boost its popularity. Due to the recent fall in value of the pound, it has become more competitive against wines coming over from the Continent. This has led to more people trying it and realising that it is of a high quality.
This research has coincided with a decision by a major pub chain in the UK to stop selling wines from Germany and France, and only to stock those from the UK. It remains to be seen whether any others will follow this move. It seems unlikely that the joys of wine from Italy, Germany, France and other countries won’t remain popular, but it also seems the UK is making a name for itself in the wine industry.
Ideal Wine Company 