Tassie wine sector set to grow to $2B by 2040

New research has revealed the impressive performance of the much-loved Tasmanian wine sector, as it continues to experience strong growth.

Research commissioned by Wine Tasmania shows the wine sector produces approximately $420 million in wine annually, which is projected to grow to $2 billion by 2040.

This will make the Tasmanian wine sector the most significant contributor to the Tasmanian economy, outperforming all other sectors.

With 3,600 full time equivalent jobs in the wine sector, Tasmania is the only state where its grape growing workforce grew over the past decade, up by 74%, compared with a 29% reduction nationally. During the same period, Tasmania was also the only state where females in grape growing roles increased, up by 115%.

Sheralee Davies, Wine Tasmania CEO, said the report revealed the impressive scale and growth of the Tasmanian wine sector.

“The Tasmanian wine sector is founded in agriculture, but its value grows exponentially through winemaking and wine tourism. Nearly every community in Tasmania is directly or indirectly linked to the wine sector, including through employment, investment and tourism in our regional areas.”

“A quarter of visitors to Tasmania call into our regional cellar doors, with these visitors staying longer and spending more than others.”

“From humble beginnings in the 1950s, so many people have worked tirelessly for a long time to make this sector the impressive success it is today. This is despite many challenges along the way and official advice that the island was too cold and unpredictable to ever be a regional wine champion.”

“Tasmania is now leading the country, through its global profile, the value of wine grapes and wine, visitation to its cellar doors and market-led growth as well as regional employment and investment. This reputation, coupled with a changing climate and wine preferences, will see even further growth over the coming years.”

“While growth reflects confidence in the Tasmanian wine sector, it also comes with quite a lot of risk. There is an opportunity for future growth to be carefully considered and managed to ensure Tasmania builds on its strong platform of today.”