Portugal: Wine Market 2024

Wine Market Size in Portugal

In 2022, the Portuguese wine market increased by X% to $X for the first time since 2019, thus ending a two-year declining trend. The market value increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed throughout the analyzed period. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Wine Production in Portugal

In value terms, wine production skyrocketed to $X in 2022 estimated in export price. Overall, production saw a mild slump. Wine production peaked at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.

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Wine Exports

Exports from Portugal

In 2022, shipments abroad of wine decreased by X% to X litres for the first time since 2019, thus ending a two-year rising trend. Over the period under review, exports recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 with an increase of X%. Over the period under review, the exports reached the maximum at X litres in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, wine exports contracted to $X in 2022. In general, exports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when exports increased by X%. Over the period under review, the exports reached the peak figure at $X in 2021, and then dropped in the following year.

Exports by Country

France (X litres), Angola (X litres) and the United States (X litres) were the main destinations of wine exports from Portugal, together comprising X% of total exports. The UK, Brazil, Germany, Poland, Belgium, the Netherlands, Canada, Spain, Sweden and Guinea-Bissau lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the biggest increases were recorded for Poland (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for wine exported from Portugal were France ($X), the United States ($X) and the UK ($X), with a combined X% share of total exports. Brazil, Canada, Germany, the Netherlands, Belgium, Angola, Poland, Sweden, Spain and Guinea-Bissau lagged somewhat behind, together accounting for a further X%.

Among the main countries of destination, Poland, with a CAGR of X%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average wine export price amounted to $X per litre, declining by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2013 an increase of X%. Over the period under review, the average export prices attained the maximum at $X per litre in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per litre), while the average price for exports to Guinea-Bissau ($X per litre) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Spain (X%), while the prices for the other major destinations experienced more modest paces of growth.

Wine Imports

Imports into Portugal

In 2022, purchases abroad of wine increased by X% to X litres, rising for the sixth consecutive year after two years of decline. Overall, total imports indicated a resilient expansion from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2016 indices. The pace of growth was the most pronounced in 2013 with an increase of X% against the previous year. Imports peaked in 2022 and are likely to see gradual growth in the immediate term.

In value terms, wine imports reached $X in 2022. In general, total imports indicated a buoyant expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2013 when imports increased by X% against the previous year. Imports peaked in 2022 and are likely to see gradual growth in years to come.

Imports by Country

In 2022, Spain (X litres) was the main supplier of wine to Portugal, accounting for a X% share of total imports. Moreover, wine imports from Spain exceeded the figures recorded by the second-largest supplier, Italy (X litres), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume from Spain amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (X% per year) and France (X% per year).

In value terms, Spain ($X) constituted the largest supplier of wine to Portugal, comprising X% of total imports. The second position in the ranking was taken by France ($X), with an X% share of total imports.

From 2012 to 2022, the average annual growth rate of value from Spain amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: France (X% per year) and Italy (X% per year).

Import Prices by Country

The average wine import price stood at $X per litre in 2022, surging by X% against the previous year. In general, the import price, however, saw a slight decline. The most prominent rate of growth was recorded in 2021 an increase of X% against the previous year. The import price peaked at $X per litre in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (X%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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