U.S.: Wine Market 2023

Wine Market Size in the U.S.

The U.S. wine market totaled $X in 2022, rising by 1.6% against the previous year. The market value increased at an average annual rate of +1.1% from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2016 with an increase of 7.7% against the previous year. Over the period under review, the market reached the maximum level in 2022 and is expected to retain growth in the immediate term.

Wine Production in the U.S.

In value terms, wine production shrank to $X in 2022. Over the period under review, production, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 when the production volume increased by 10%. Wine production peaked at $X in 2016; however, from 2017 to 2022, production failed to regain momentum.

Wine Exports

Exports from the U.S.

In 2022, shipments abroad of wine and grape must decreased by -14.8% to X litres, falling for the second consecutive year after four years of growth. Over the period under review, exports saw a pronounced setback. The pace of growth was the most pronounced in 2013 with an increase of 4.4% against the previous year. Over the period under review, the exports hit record highs at X litres in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

In value terms, wine exports declined to $X in 2022. Overall, exports, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2013 with an increase of 12%. The exports peaked at $X in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

Exports by Country

The UK (X litres), Canada (X litres) and France (X litres) were the main destinations of wine exports from the United States, together comprising 29% of total exports. Germany, Denmark, Japan, South Korea, Belgium, Hong Kong SAR, China, the Netherlands, the Philippines and Sweden lagged somewhat behind, together comprising a further 13%.

From 2012 to 2022, the biggest increases were recorded for South Korea (with a CAGR of +10.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Canada ($X) remains the key foreign market for wine and grape must exports from the United States, comprising 17% of total exports. The second position in the ranking was held by the UK ($X), with a 5.8% share of total exports. It was followed by Japan, with a 3.8% share.

From 2012 to 2022, the average annual growth rate of value to Canada amounted to +1.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (-2.8% per year) and Japan (+0.0% per year).

Export Prices by Country

The average wine export price stood at $X per litre in 2022, rising by 17% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +4.3%. The pace of growth was the most pronounced in 2016 when the average export price increased by 28% against the previous year. The export price peaked in 2022 and is likely to continue growth in years to come.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Hong Kong SAR ($X per litre), while the average price for exports to the UK ($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 Japan (+10.5%), while the prices for the other major destinations experienced more modest paces of growth.

Wine Imports

Imports into the U.S.

In 2022, the amount of wine and grape must imported into the United States rose modestly to X litres, with an increase of 4.3% compared with 2021. The total import volume increased at an average annual rate of +2.4% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. The growth pace was the most rapid in 2014 with an increase of 20% against the previous year. Imports peaked in 2022 and are likely to see steady growth in years to come.

In value terms, wine imports stood at $X in 2022. The total import value increased at an average annual rate of +3.3% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2021 when imports increased by 26% against the previous year. Imports peaked in 2022 and are expected to retain growth in years to come.

Imports by Country

Italy (X litres), Canada (X litres) and France (X litres) were the main suppliers of wine imports to the United States, together accounting for 28% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Canada (with a CAGR of +26.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest wine suppliers to the United States were France ($X), Italy ($X) and New Zealand ($X), with a combined 38% share of total imports. Spain, Australia, Argentina, Chile, Germany, South Africa and Canada lagged somewhat behind, together comprising a further 9.8%.

Canada, with a CAGR of +15.2%, saw the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average wine import price stood at $X per litre in 2022, approximately mirroring the previous year. Overall, the import price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 an increase of 19%. Over the period under review, average import prices hit record highs at $X per litre in 2018; however, from 2019 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was France ($X per litre), while the price for Canada ($X per litre) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Argentina (+4.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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