(PD) - Wines priced between $12 and $25 a bottle will grow in volume in 2017, while those costing less than $9 should decline, according to an industry survey to be released today.

The Silicon Valley Bank’s annual State of the Wine Industry Report showed a continued emphasis on premium wines targeted to more affluent consumers.

The report, in its 16th year, is highly regarded among vintners for its insight. Top wine officials answer written questions from the bank anonymously, in an effort to paint a more candid picture of what they expect in the upcoming year.

“We foresee a strong year ahead for the wine industry, particularly in the premium wine segment, with small price increases in the $12-25 bottle and luxury wine categories,” said Rob McMillan, founder of Silicon Valley Bank’s wine division and author of the report, in a statement.

The survey found sales growth of between 10 to 14 percent is predicted for the premium wine segment in 2017 as a result of an improved retail environment, strong consumer demand and good supply.