Luxembourg: Wine Market 2024

Wine Market Size in Luxembourg

The Luxembourg wine market contracted to $X in 2023, waning by X% against the previous year. In general, consumption recorded a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2019 to 2023, the growth of the market failed to regain momentum.

Wine Production in Luxembourg

In value terms, wine production stood at $X in 2023 estimated in export price. In general, production enjoyed pronounced growth. The pace of growth was the most pronounced in 2020 with an increase of X%. Over the period under review, production attained the maximum level at $X in 2021; however, from 2022 to 2023, production failed to regain momentum.

Wine Exports

Exports from Luxembourg

For the third consecutive year, Luxembourg recorded growth in overseas shipments of wine, which increased by X% to X litres in 2023. In general, total exports indicated a slight expansion from 2012 to 2023: its volume 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 2023 figures, exports increased by X% against 2020 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, wine exports reduced to $X in 2023. Over the period under review, exports, however, saw a mild contraction. The growth pace was the most rapid in 2021 with an increase of X%. Over the period under review, the exports attained the maximum at $X in 2012; however, from 2013 to 2023, the exports failed to regain momentum.

Exports by Country

Belgium (X litres) was the main destination for wine exports from Luxembourg, with a X% share of total exports. Moreover, wine exports to Belgium exceeded the volume sent to the second major destination, Germany (X litres), sevenfold. Finland (X litres) ranked third in terms of total exports with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of volume to Belgium stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (X% per year) and Finland (X% per year).

In value terms, Belgium ($X) remains the key foreign market for wine exports from Luxembourg, comprising X% of total exports. The second position in the ranking was held by Canada ($X), with a X% share of total exports. It was followed by Germany, with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of value to Belgium amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (X% per year) and Germany (X% per year).

Export Prices by Country

The average wine export price stood at $X per litre in 2023, declining by X% against the previous year. Overall, the export price showed a pronounced decline. The pace of growth was the most pronounced in 2020 an increase of X% against the previous year. The export price peaked at $X per litre in 2022, and then declined notably in the following year.

There were significant differences in the average prices for the major external markets. In 2023, amid the top suppliers, the country with the highest price was Canada ($X per litre), while the average price for exports to Finland ($X per litre) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Canada (X%), while the prices for the other major destinations experienced more modest paces of growth.

Wine Imports

Imports into Luxembourg

In 2023, approx. X litres of wine were imported into Luxembourg; increasing by X% on the previous year. Overall, imports, however, continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2018 when imports increased by X%. Imports peaked at X litres in 2019; however, from 2020 to 2023, imports failed to regain momentum.

In value terms, wine imports expanded rapidly to $X in 2023. The total import value increased at an average annual rate of X% over the period from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2021 with an increase of X%. As a result, imports attained the peak of $X. From 2022 to 2023, the growth of imports remained at a somewhat lower figure.

Imports by Country

France (X litres), Belgium (X litres) and Portugal (X litres) were the main suppliers of wine imports to Luxembourg, together accounting for X% of total imports.

From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Belgium (with a CAGR of X%), while imports for the other leaders experienced mixed trend patterns.

In value terms, France ($X), Belgium ($X) and Italy ($X) appeared to be the largest wine suppliers to Luxembourg, with a combined X% share of total imports.

Belgium, with a CAGR of X%, recorded the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2023, the average wine import price amounted to $X per litre, surging by X% against the previous year. In general, import price indicated a noticeable expansion from 2012 to 2023: its price 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 2023 figures, wine import price decreased by X% against 2021 indices. The most prominent rate of growth was recorded in 2020 when the average import price increased by X% against the previous year. Over the period under review, average import prices hit record highs at $X per litre in 2021; however, from 2022 to 2023, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2023, amid the top importers, the country with the highest price was France ($X per litre), while the price for Portugal ($X per litre) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Italy (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform