A more connected world of wine
Growth. Empowerment. Connection. Diversity.
The world wine market is large and growing, responding to increasing consumer demand from existing and emerging markets. In total, more than 27 billion litres of wine is produced each year, globally1, not including juice concentrate and other grape-derived products. Of that volume, more than 35% is traded B2B between producers and production intermediaries in bulk before being packaged and sold to importers, wholesalers, or direct to retailers.
Bottled wine non-proprietary brands (ie. buyers’ own brands, private or exclusive labels) have grown over the last 20 years to more than 40% of all wine sold in retail, representing in excess of 1.2 billion cases (9L) sold annually.
Previously, buyers and sellers connected and completed trades either directly, or through wine agents/brokers based within regions, using a conventional broking approach.
VINEX is digitally transforming wine trading, delivering a lower cost, unique business to business service enabling wine to be traded without boundaries. An innovative scalable technology, VINEX connects trade organisations directly within and across markets, providing a more efficient, accessible, secure and lower cost alternative.
The digitised market is diverse and comprehensive, operating in 7 languages across 57 countries, and is available to individuals and organisations in, or related to, the wine industry.
What does VINEX trade?
Wines in a bulk format, either unfinished or finished are traded through the exchange. Trades on average are more than 150,000 litres, and range from 1,000 litres of luxury (A) wines to 2 million litres of commercial (D) wines. In addition to wine, VINEX also trades grape must, wine juice concentrate, grape spirit and brandy.
Wines in all packaged formats are traded through the exchange. Categories include Producer Brands, Private Labels, Buyers’ Own Brands, Clearance, UnLabelled, Cleanskins and US Shiners. Read more here on Packaged Definitions
Sellers are able to feature their offering through the exchange, incorporating specific packaging details, photos and technical specifications. Sellers can present their wines to all buyers through the Main market or confidentially connect directly with targeted buyers through the Direct market.
Buyers are able to promote their sourcing requirements for any packaged wine type, including Producer Brands, looking for a new distributor or a new Private Label and include specific product, trade, packaging and technical details.
Premium and appellation wines can be offered or sourced through the Boutique Market which provides smaller and mid-tier producers and buyers with an opportunity to offer or source, sample, connect, and form new relationships.
Who makes up the market?
Sellers include cooperatives, independent producers, wine agents/brokers, contract winemakers, bottling companies, brand owners, exporters and wholesalers. Members range in size from large to small, are located within or across all regions and countries. To trade, they must first be verified and approved by VINEX. Registration form available here
Buyers include exporters, importers, bottling companies, wholesalers, retailers (and other wine producers). They also range in size and are located in established or emerging wine regions and markets. For buyers to trade, they must first be verified and approved by VINEX.
Thanks to VINEX, the connection between buyer and seller becomes fluid and impossible deals become a reality. Ramon Ramos, Bodegas Ramon Ramos, Spain
FAIRNESS IN TRADING
To ensure equality and fairness in trading, based on best practice. VINEX protects the identity of buyers and sellers throughout all stages (unless expressly agreeing to show their identity) from submitting a listing, making offers, negotiation, through to the sampling process. On occasion, prior to the final acceptance of a trade and only with the approval of VINEX, the buyer and seller may agree to discuss and confirm specific details of a trade directly. Once a trade is established, the VINEX Clearing & Settlement team raise a Sale & Purchase Agreement first received by the Seller to review and approve the payment terms. Once the Seller’s acceptance is confirmed, the agreement is forwarded to the Buyer for their final authorisation upon approval of final sample and technical specification. Either the seller or buyer may choose to VINPay invoices resulting from the trade, if the buyer is VINPay approved.
As a valued VINEX customer, you are assigned a ranking indicating your level of trading activity, accreditation, establishiment and status in the industry. VINEX regularly reviews the rankings to ensure they correctly reflect each member’s current status. In addition, an abbreviated profile displays your category of membership level, country of origin, number of listings and completed trades.
More information on the market, including pricing, inventory and forward trends is available in the VINEX Market IQ section. To receive unlimited access to all analysis and content, subscribe for Professional or Market Data access.
1*OIV World Report