Global Wine Market 2023

Wine Market Size

The global wine market shrank slightly to $X in 2022, with a decrease of -1.6% against the previous year. The market value increased at an average annual rate of +1.6% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the global market attained the peak level at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Wine Production

In value terms, wine production shrank slightly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.5% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2014 with an increase of 19% against the previous year. Over the period under review, global production hit record highs at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.

Wine Exports

Exports

In 2022, global wine exports dropped to X litres, with a decrease of -5.5% against the previous year. Overall, exports saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when exports increased by 6.4% against the previous year. As a result, the exports reached the peak of X litres. From 2018 to 2022, the growth of the global exports remained at a somewhat lower figure.

In value terms, wine exports contracted to $X in 2022. The total export value increased at an average annual rate of +1.9% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. The pace of growth appeared the most rapid in 2021 with an increase of 22%. As a result, the exports reached the peak of $X, and then dropped slightly in the following year.

Exports by Country

In 2022, France (X litres), Italy (X litres) and Spain (X litres) represented the major exporter of wine and grape must in the world, generating 50% of total export. South Africa (X litres) ranks next in terms of the total exports with a 6% share, followed by Chile (5.8%) and Germany (4.9%). Australia (X litres), Argentina (X litres), the United States (X litres), Portugal (X litres), New Zealand (X litres) and the Netherlands (X litres) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for the Netherlands (with a CAGR of +11.8%), while shipments for the other global leaders experienced more modest paces of growth.

In value terms, France ($X) remains the largest wine supplier worldwide, comprising 42% of global exports. The second position in the ranking was held by Italy ($X), with a 13% share of global exports. It was followed by Spain, with a 5.2% share.

From 2012 to 2022, the average annual rate of growth in terms of value in France totaled +2.5%. In the other countries, the average annual rates were as follows: Italy (+3.2% per year) and Spain (-0.4% per year).

Export Prices by Country

The average wine export price stood at $X per litre in 2022, increasing by 2.5% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.2%. The pace of growth was the most pronounced in 2021 when the average export price increased by 15% against the previous year. The global export price peaked in 2022 and is likely to see steady growth in the near future.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+4.3%), while the other global leaders experienced more modest paces of growth.

Wine Imports

Imports

In 2022, supplies from abroad of wine and grape must increased by 1.7% to X litres, rising for the second year in a row after two years of decline. Over the period under review, imports continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 with an increase of 4% against the previous year. Over the period under review, global imports attained the peak figure in 2022 and are likely to see steady growth in the near future.

In value terms, wine imports declined modestly to $X in 2022. The total import value increased at an average annual rate of +1.9% from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. The most prominent rate of growth was recorded in 2021 with an increase of 18%. As a result, imports attained the peak of $X, and then fell slightly in the following year.

Imports by Country

The countries with the highest levels of wine imports in 2022 were the United States (X litres), Germany (X litres) and the UK (X litres), together recording 38% of total import. It was distantly followed by France (X litres), generating a 6.4% share of total imports. The Netherlands (X litres), Canada (X litres), Russia (X litres), China (X litres), Japan (X litres), Belgium (X litres), Denmark (X litres), Sweden (X litres) and Switzerland (X litres) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Sweden (with a CAGR of +3.6%), while imports for the other global leaders experienced more modest paces of growth.

In value terms, the United States ($X), the UK ($X) and Germany ($X) appeared to be the countries with the highest levels of imports in 2022, with a combined 38% share of global imports. Canada, Japan, the Netherlands, China, Switzerland, Russia, Belgium, France, Denmark and Sweden lagged somewhat behind, together accounting for a further 34%.

Among the main importing countries, France, with a CAGR of +4.1%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices by Country

The average wine import price stood at $X per litre in 2022, waning by -4.1% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.3%. The growth pace was the most rapid in 2021 when the average import price increased by 16%. As a result, import price reached the peak level of $X per litre, and then dropped modestly in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Russia (+7.2%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Platform

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