Argentina: Sparkling Wine Market 2024

Sparkling Wine Market Size in Argentina

The Argentinian sparkling wine market shrank to $X in 2022, falling by -5.8% against the previous year. In general, consumption continues to indicate a deep slump. Over the period under review, the market attained the peak level at $X in 2013; however, from 2014 to 2022, consumption remained at a lower figure.

Sparkling Wine Production in Argentina

In value terms, sparkling wine production contracted slightly to $X in 2022 estimated in export price. Overall, production saw a drastic downturn. The most prominent rate of growth was recorded in 2016 with an increase of 11%. Over the period under review, production hit record highs at $X in 2013; however, from 2014 to 2022, production remained at a lower figure.

Sparkling Wine Exports

Exports from Argentina

In 2022, overseas shipments of sparkling wine increased by 15% to X litres, rising for the second consecutive year after two years of decline. Over the period under review, exports, however, showed a noticeable curtailment. The exports peaked at X litres in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, sparkling wine exports surged to $X in 2022. Overall, exports, however, continue to indicate a noticeable contraction. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The United States (X litres), Brazil (X litres) and Chile (X litres) were the main destinations of sparkling wine exports from Argentina, together comprising 61% of total exports. These countries were followed by France, Uruguay, Ecuador, Paraguay, the UK, Mexico, Japan, Peru, the Netherlands and Colombia, which together accounted for a further 31%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Ecuador (with a CAGR of +13.3%), while the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), Brazil ($X) and Chile ($X) appeared to be the largest markets for sparkling wine exported from Argentina worldwide, together accounting for 49% of total exports. These countries were followed by France, Paraguay, Uruguay, the UK, Mexico, Ecuador, Colombia, the Netherlands, Peru and Japan, which together accounted for a further 42%.

In terms of the main countries of destination, Mexico, with a CAGR of +14.2%, recorded 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 sparkling wine export price amounted to $X per litre, jumping by 22% against the previous year. In general, the export price, however, recorded a relatively flat trend pattern. The export price peaked at $X per litre in 2017; however, from 2018 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Colombia ($X per litre), while the average price for exports to Brazil ($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 Mexico (+2.9%), while the prices for the other major destinations experienced more modest paces of growth.

Sparkling Wine Imports

Imports into Argentina

For the third consecutive year, Argentina recorded growth in overseas purchases of sparkling wine, which increased by 47% to X litres in 2022. In general, imports, however, showed a deep setback. The growth pace was the most rapid in 2021 when imports increased by 54% against the previous year. Imports peaked at X litres in 2013; however, from 2014 to 2022, imports remained at a lower figure.

In value terms, sparkling wine imports soared to $X in 2022. Over the period under review, imports enjoyed mild growth. The most prominent rate of growth was recorded in 2017 with an increase of 129% against the previous year. Imports peaked at $X in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, France (X litres) constituted the largest supplier of sparkling wine to Argentina, with a 59% share of total imports. Moreover, sparkling wine imports from France exceeded the figures recorded by the second-largest supplier, Italy (X litres), threefold.

From 2012 to 2022, the average annual rate of growth in terms of volume from France amounted to +6.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+0.7% per year) and Spain (-18.5% per year).

In value terms, France ($X) constituted the largest supplier of sparkling wine to Argentina, comprising 91% of total imports. The second position in the ranking was taken by Italy ($X), with a 4.8% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from France amounted to +3.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (-0.4% per year) and Spain (-11.4% per year).

Import Prices by Country

The average sparkling wine import price stood at $X per litre in 2022, with a decrease of -18.1% against the previous year. In general, the import price, however, saw prominent growth. The growth pace was the most rapid in 2014 an increase of 126%. The import price peaked at $X per litre in 2020; however, from 2021 to 2022, import prices remained at a 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 ($X per litre), while the price for Italy ($X per litre) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Spain (+8.7%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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