Iceland: Wine Market 2020

Wine Market Size in Iceland

The revenue of the wine market in Iceland amounted to $X in 2018, jumping by X% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, the total market indicated a temperate expansion from 2007 to 2018: its value increased at an average annual rate of +X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2018 figures, wine consumption increased by +X% against 2011 indices. The most prominent rate of growth was recorded in 2015 with an increase of X% against the previous year. Over the period under review, the wine market attained its maximum level in 2018 and is expected to retain its growth in the immediate term.

Wine Exports

Exports from Iceland

Wine exports from Iceland totaled X litres in 2018, going up by X% against the previous year. Over the period under review, wine exports continue to indicate a measured increase. The growth pace was the most rapid in 2018 when exports increased by X% year-to-year. In that year, wine exports attained their peak and are likely to continue its growth in the immediate term.

In value terms, wine exports amounted to $X in 2018. Overall, wine exports continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 with an increase of X% y-o-y. Over the period under review, wine exports reached their maximum at $X in 2007; however, from 2008 to 2018, exports remained at a lower figure.

Exports by Country

The exports of the three major exporters of wine and grape must, namely Spain, Italy and France, represented more than half of total export. Chile (X litres) occupied a X% share (based on tons) of total exports, which put it in second place, followed by Australia (X%) and South Africa (X%). The following exporters - Germany (X litres), the U.S. (X litres), New Zealand (X litres), Portugal (X litres), Argentina (X litres) and China (X litres) - together made up X% of total exports.

From 2007 to 2018, the most notable rate of growth in terms of exports, amongst the main exporting countries, was attained by China, while the other leaders experienced more modest paces of growth.

In value terms, the largest wine markets from Iceland were France ($X), Italy ($X) and Spain ($X), with a combined X% share of total exports. These countries were followed by Australia, Chile, the U.S., New Zealand, Germany, Portugal, Argentina, South Africa, China and Iceland, which together accounted for a further X the main exporting countries, China experienced the highest growth rate of exports, over the last eleven years, while the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2018, the wine export price in Iceland amounted to $X per litre, dropping by -X% against the previous year. Over the period under review, the wine export price continues to indicate a pronounced setback. The pace of growth was the most pronounced in 2009 when the export price increased by X% y-o-y. Over the period under review, the export prices for wine and grape must attained their maximum at $X per litre in 2014; however, from 2015 to 2018, export prices failed to regain their momentum.

Prices varied noticeably by the country of origin; the country with the highest price was France ($X per litre), while Spain ($X per litre) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was attained by Argentina, while the other leaders experienced more modest paces of growth.

Wine Imports

Imports into Iceland

In 2018, the imports of wine and grape must into Iceland totaled X litres, picking up by X% against the previous year. The total import volume increased at an average annual rate of +X% over the period from 2007 to 2018; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2010 with an increase of X% y-o-y. Over the period under review, wine imports attained their peak figure in 2018 and are expected to retain its growth in the immediate term.

In value terms, wine imports totaled $X in 2018. In general, the total imports indicated a moderate increase from 2007 to 2018: its value increased at an average annual rate of +X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2018 figures, wine imports increased by +X% against 2009 indices. The pace of growth appeared the most rapid in 2016 when imports increased by X% y-o-y. Over the period under review, wine imports attained their peak figure in 2018 and are likely to continue its growth in the near future.

Imports by Country

The countries with the highest levels of wine imports in 2018 were Germany (X litres), the UK (X litres), the U.S. (X litres), China (X litres), France (X litres), Russia (X litres), Canada (X litres), the Netherlands (X litres), Belgium (X litres), Japan (X litres), Denmark (X litres) and Switzerland (X litres), together accounting for X% of total import.

From 2007 to 2018, the most notable rate of growth in terms of imports, amongst the main importing countries, was attained by China, while the other leaders experienced more modest paces of growth.

In value terms, the largest wine importing markets into Iceland were the U.S. ($X), the UK ($X) and Germany ($X), together comprising X% of total imports. These countries were followed by China, Canada, Japan, the Netherlands, Belgium, Russia, Switzerland, France, Denmark and Iceland, which together accounted for a further X terms of the main importing countries, China recorded the highest growth rate of imports, over the last eleven-year period, while the other leaders experienced more modest paces of growth.

Import Prices by Country

The wine import price in Iceland stood at $X per litre in 2018, approximately equating the previous year. In general, the wine import price continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 when the import price increased by X% y-o-y. Iceland import price peaked at $X per litre in 2007; however, from 2008 to 2018, import prices remained at a lower figure.

Prices varied noticeably by the country of destination; the country with the highest price was the U.S. ($X per litre), while France ($X per litre) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was attained by Russia, while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform