The demand for New Zealand wine has increased significantly in the global market, according to the 2019 Annual Report released by New Zealand Winegrowers.

According to the report, the export value of wine produced in the country has reached a record high of NZ$$1.83bn ($1.16bn).

New Zealand Winegrowers chair John Clarke said: “This year’s export results again reflect the New Zealand wine industry’s strengths and reinforce our international reputation for premium, diverse and sustainable wines.

“The Strategic Review report noted the continued steady growth of the industry and identified a range of challenges and risks that need to be addressed to maintain that trajectory and ensure all members have the opportunity to benefit.”

The report indicated a 6% increase in export value in June year-end 2019, which is said to be equivalent to the sale of NZ$7bn ($4.4bn) of New Zealand wine sold in the global market annually.

Among all, the UK and US markets were the top importers.

The US continues to be New Zealand wine’s largest market with NZ$550m ($350m) in exports.

The newly released strategic review report highlights the completion of the 2018 PwC Strategic Review.

Additionally, the report suggested that New Zealand wine has transitioned itself in terms of the value in its major markets including the US, UK, Canada and China, where it currently remains either the highest or second-highest priced wine category.

Clarke further added: “As an industry, we need to ensure our key focus is on enhancing sustainability initiatives. Sustainability is a cornerstone of the reputation of New Zealand wine and is vital to the ongoing success of our industry.”