2017葡萄酒行业报告（英文版）

StateoftheWineIndustry2017WrittenbyRobMcMillan,EVPandFounderSiliconValleyBankWineDivisionContentsIntroductionNoLifeguardonDuty.2SwimatYourOwnRisk.1OurPredictionsinReview422017SummaryForecast103Premiumizationand14RestaurantSales4VarietalDemand225HarvestYieldandQuality266BulkWineandImports327LandandM&A368ShiftingCohortsand46ImprovingEconomics9WineryFinancial54Performance10FinalThoughts62Endnotes64AboutSiliconValleyBank67Disclosures69IntroductionNoLifeguardonDuty.SwimatYourOwnRisk.|1|2|3|4|5|6|7|8|9|102Weleadthisyear’sreportwithareminderthatwhilemarketconditionsappearstronginplaces,somemarketcomponentsareweakeninganddangerous,andstillothersareoverheatingascurrentsofchangegainmomen-tum.Onceagain,“average”isnotausefultermwhendescribingthewinebusiness.Yo