Europe: Wine Market 2024

Wine Market Size in Europe

After two years of growth, the Europe wine market decreased by X% to $X in 2023. The market value increased at an average annual rate of X% over the period from 2012 to 2023; the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. As a result, consumption reached the peak level of $X. From 2014 to 2023, the growth of the market failed to regain momentum.

Wine Production in Europe

In value terms, wine production contracted modestly to $X in 2023 estimated in export price. Over the period under review, production, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the production volume increased by X%. Over the period under review, production reached the maximum level at $X in 2018; however, from 2019 to 2023, production failed to regain momentum.

Wine Exports

Exports in Europe

In 2023, the amount of wine exported in Europe shrank slightly to X litres, reducing by X% against the previous year. In general, exports saw a relatively flat trend pattern. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. The volume of export peaked at X litres in 2018; however, from 2019 to 2023, the exports failed to regain momentum.

In value terms, wine exports expanded modestly to $X in 2023. The total export value increased at an average annual rate of X% from 2012 to 2023; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2021 when exports increased by X%. The level of export peaked in 2023 and is likely to continue growth in years to come.

Exports by Country

Italy (X litres) and Spain (X litres) represented roughly X% of total exports in 2023. France (X litres) took the next position in the ranking, distantly followed by Germany (X litres). All these countries together took near X% share of total exports. The following exporters - Portugal (X litres), Belgium (X litres), Moldova (X litres) and the Netherlands (X litres) - together made up X% of total exports.

From 2012 to 2023, the biggest increases were recorded for Belgium (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest wine supplying countries in Europe were France ($X), Italy ($X) and Spain ($X), together comprising X% of total exports. Germany, Portugal, Belgium, the Netherlands and Moldova lagged somewhat behind, together accounting for a further X%.

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

Export Prices by Country

In 2023, the export price in Europe amounted to $X per litre, with an increase of X% against the previous year. Over the period from 2012 to 2023, it increased at an average annual rate of X%. The growth pace was the most rapid in 2021 when the export price increased by X% against the previous year. The level of export peaked in 2023 and is likely to continue growth in the immediate term.

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

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

Wine Imports

Imports in Europe

In 2023, overseas purchases of wine decreased by X% to X litres, falling for the third consecutive year after two years of growth. Overall, imports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 with an increase of X%. As a result, imports reached the peak of X litres. From 2014 to 2023, the growth of imports remained at a somewhat lower figure.

In value terms, wine imports rose to $X in 2023. The total import value increased at an average annual rate of X% from 2012 to 2023; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed throughout the analyzed period. The growth pace was the most rapid in 2021 when imports increased by X% against the previous year. Over the period under review, imports attained the maximum in 2023 and are likely to see gradual growth in the near future.

Imports by Country

In 2023, Germany (X litres), distantly followed by the UK (X litres), France (X litres), the Netherlands (X litres), Belgium (X litres), Russia (X litres) and Portugal (X litres) were the largest importers of wine, together making up X% of total imports. The following importers - Sweden (X litres), Denmark (X litres), Italy (X litres), Switzerland (X litres), the Czech Republic (X litres) and Poland (X litres) - together made up X% of total imports.

From 2012 to 2023, the biggest increases were recorded for Portugal (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the UK ($X), Germany ($X) and the Netherlands ($X) were the countries with the highest levels of imports in 2023, together accounting for X% of total imports. Switzerland, Belgium, France, Sweden, Russia, Denmark, Italy, Poland, the Czech Republic and Portugal lagged somewhat behind, together comprising a further X%.

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

Import Prices by Country

The import price in Europe stood at $X per litre in 2023, with an increase of X% against the previous year. Over the period from 2012 to 2023, it increased at an average annual rate of X%. The pace of growth appeared the most rapid in 2021 when the import price increased by X%. Over the period under review, import prices attained the peak figure in 2023 and is likely to continue growth in the near future.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Switzerland ($X per litre), while Portugal ($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 other leaders experienced more modest paces of growth.

Source: IndexBox Platform