Argentina: Wine Market 2024

Wine Market Size in Argentina

In 2022, the Argentinian wine market increased by X% to $X, rising for the second consecutive year after three years of decline. Overall, consumption, however, saw a mild curtailment. Wine consumption peaked at $X in 2017; however, from 2018 to 2022, consumption failed to regain momentum.

Wine Production in Argentina

In value terms, wine production reduced slightly to $X in 2022 estimated in export price. Overall, production, however, saw a pronounced descent. The growth pace was the most rapid in 2021 when the production volume increased by X%. Wine production peaked at $X in 2017; however, from 2018 to 2022, production failed to regain momentum.

Wine Exports

Exports from Argentina

In 2022, shipments abroad of wine and grape must decreased by X% to X litres, falling for the second year in a row after three years of growth. Overall, exports continue to indicate a pronounced decrease. The most prominent rate of growth was recorded in 2018 with an increase of X%. Over the period under review, the exports hit record highs at X litres in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, wine exports dropped modestly to $X in 2022. In general, exports saw a slight descent. The most prominent rate of growth was recorded in 2021 with an increase of X%. Over the period under review, the exports reached the maximum 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), the UK (X litres) and Brazil (X litres) were the main destinations of wine exports from Argentina, with a combined X% share of total exports.

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

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

From 2012 to 2022, the average annual rate of growth in terms of value to the United States stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (X% per year) and Brazil (X% per year).

Export Prices by Country

The average wine export price stood at $X per litre in 2022, growing by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2021 when the average export price increased by X% against the previous year. Over the period under review, the average export prices hit record highs at $X per litre in 2017; however, from 2018 to 2022, the export prices failed to regain momentum.

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

Wine Imports

Imports into Argentina

In 2022, overseas purchases of wine and grape must increased by X% to X litres, rising for the third consecutive year after two years of decline. In general, imports posted a tangible increase. The pace of growth was the most pronounced in 2017 when imports increased by X%. As a result, imports attained the peak of X litres. From 2018 to 2022, the growth of imports remained at a lower figure.

In value terms, wine imports rose notably to $X in 2022. Over the period under review, imports posted a resilient expansion. The growth pace was the most rapid in 2017 when imports increased by X%. As a result, imports attained the peak of $X. From 2018 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, Chile (X litres) constituted the largest wine supplier to Argentina, accounting for a X% share of total imports. Moreover, wine imports from Chile exceeded the figures recorded by the second-largest supplier, France (X litres), fourfold. Italy (X litres) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Chile stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: France (X% per year) and Italy (X% per year).

In value terms, France ($X) constituted the largest supplier of wine and grape must to Argentina, comprising X% of total imports. The second position in the ranking was held by Chile ($X), with a X% share of total imports. It was followed by Italy, with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from France totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Chile (X% per year) and Italy (X% per year).

Import Prices by Country

In 2022, the average wine import price amounted to $X per litre, declining by X% against the previous year. In general, the import price, however, enjoyed a slight increase. The most prominent rate of growth was recorded in 2018 when the average import price increased by X% against the previous year. The import price peaked at $X per litre in 2014; however, from 2015 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 ($X per litre), while the price for Chile ($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 (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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