Global Wine Market 2023

Wine Market Size

In 2021, after two years of decline, there was significant growth in the global wine market, when its value increased by 5.8% to $X. In general, consumption, however, saw a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2019 to 2021, the growth of the global market remained at a lower figure.

Wine Production

In value terms, wine production expanded sharply to $X in 2021 estimated in export price. Over the period under review, production showed a mild shrinkage. The pace of growth was the most pronounced in 2014 when the production volume increased by 25%. Global production peaked at $X in 2018; however, from 2019 to 2021, production failed to regain momentum.

Wine Exports

Exports

In 2021, overseas shipments of wine were finally on the rise to reach X litres after three years of decline. Over the period under review, exports continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when exports increased by 5.7%. As a result, the exports reached the peak of X litres. From 2018 to 2021, the growth of the global exports remained at a somewhat lower figure.

In value terms, wine exports skyrocketed to $X in 2021. The total export value increased at an average annual rate of +2.4% over the period from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Spain (X litres), Italy (X litres) and France (X litres) represented roughly 54% of total exports in 2021. Chile (X litres) ranks next in terms of the total exports with a 7.8% share, followed by Australia (5.7%). The following exporters - South Africa (X litres), Germany (X litres), Portugal (X litres), the United States (X litres), Argentina (X litres), New Zealand (X litres) and Canada (X litres) - together made up 20% of total exports.

From 2012 to 2021, the biggest increases were recorded for Canada (with a CAGR of +25.6%), while shipments for the other global leaders experienced more modest paces of growth.

In value terms, the largest wine supplying countries worldwide were France ($X), Italy ($X) and Spain ($X), with a combined 61% share of global exports. These countries were followed by Chile, Australia, the United States, New Zealand, Germany, Portugal, Argentina, South Africa and Canada, which together accounted for a further 25%.

Canada, with a CAGR of +6.4%, recorded the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average wine export price amounted to $X per litre, picking up by 14% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.0%. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was France ($X per litre), while Canada ($X per litre) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Italy (+3.4%), while the other global leaders experienced more modest paces of growth.

Wine Imports

Imports

In 2021, after two years of decline, there was growth in supplies from abroad of wine, when their volume increased by 2.3% to X litres. Over the period under review, imports saw a relatively flat trend pattern. The growth pace was the most rapid in 2014 with an increase of 4%. As a result, imports attained the peak of X litres. From 2015 to 2021, the growth of global imports remained at a lower figure.

In value terms, wine imports skyrocketed to $X in 2021. The total import value increased at an average annual rate of +2.3% from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Germany (X litres), the United States (X litres) and the UK (X litres) represented the main importer of wine in the world, generating 37% of total import. It was distantly followed by France (X litres), mixing up a 5.6% share of total imports. The following importers - the Netherlands (X litres), Canada (X litres), China (X litres), Belgium (X litres), Russia (X litres), Italy (X litres), Portugal (X litres), Japan (X litres) and Denmark (X litres) - together made up 29% of total imports.

From 2012 to 2021, the biggest increases were recorded for Portugal (with a CAGR of +11.8%), while purchases for the other global leaders experienced more modest paces of growth.

In value terms, the largest wine importing markets worldwide were the United States ($X), the UK ($X) and Germany ($X), with a combined 37% share of global imports. Canada, Japan, the Netherlands, China, Belgium, Russia, France, Denmark, Italy and Portugal lagged somewhat behind, together comprising a further 31%.

In terms of the main importing countries, Portugal, with a CAGR of +7.2%, saw 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

In 2021, the average wine import price amounted to $X per litre, jumping by 15% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.9%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Japan ($X per litre), while Portugal ($X per litre) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Russia (+8.5%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

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