(Wine-Searcher) - The global wine trade turns in a healthy performance as wine lovers increase consumption.

The global wine trade improved last year, with the US and China driving consumption, and New Zealand the star performer on the production side, according to a just-released report.

The report, from Dutch-based Rabobank, showed that while the generic end of the market was struggling with oversupply and lower demand, the upper levels of the trade were booming, following on from a light vintage in 2015.

"The balance of global stock levels entering 2016 looks considerably different at opposing ends of the market," the report said.

New Zealand was highlighted in the report as a region moving forward in terms of both volume and value.

"It looks as if the volume of the 2016 [New Zealand] vintage will be just right – it won't be too big, yet it also won't be too small for most companies entering the year with stocks erring on the tight side," report co-author and wine analyst Marc Soccio said.

Keeping stocks within a manageable range is a perennial challenge for wine producers worldwide and continues to be one of the greatest challenges confronting New Zealand's wine industry, where the potential for large vintage variations – both in terms of quality and quantity – is considerable, owing to the country's cool climate, he says.

The 2016 harvest is well under way in New Zealand and early expectations are for a larger harvest than the short 2015 crop but not as large as the record 2014 crop. A quality crop of this size will help fuel growing export markets while not placing undue pressure on pricing and profitability, he said. The 2015 vintage was 326,000 tonnes, down 27 percent on 2014.

Mr Soccio says indications point to a lighter crop for the 2016 global vintage as Chile, Argentina, and South Africa face significant production falls.

A number of wine countries recorded strong rises in export trade volumes in 2015, but the corresponding movement in average export prices was far less uniform. The boost to import competitiveness in the US market helped to support trade, as did the strong rebound in import demand in the Chinese market.

US wine imports continued to grow in 2015, assisted by the stronger dollar. Total imports rose 5 percent by volume and 2 percent by value. Bottled wines from more premium suppliers – especially Italy, France and New Zealand – continued to grow strongly, while bulk wine import volumes were generally soft, down 4 percent year on year.