Australia: Wine Market 2024

Wine Market Size in Australia

The Australian wine market declined to $X in 2022, dropping by X% against the previous year. The market value increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level of $X, and then declined modestly in the following year.

Wine Production in Australia

In value terms, wine production fell slightly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed in certain years. The growth pace was the most rapid in 2018 with an increase of X% against the previous year. As a result, production reached the peak level of $X. From 2019 to 2022, production growth failed to regain momentum.

Wine Exports

Exports from Australia

In 2022, exports of wine and grape must from Australia amounted to X litres, remaining constant against the year before. Overall, exports, however, recorded a perceptible decline. The most prominent rate of growth was recorded in 2015 when exports increased by X%. Over the period under review, the exports hit record highs at X litres in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

In value terms, wine exports reduced to $X in 2022. In general, exports, however, saw a perceptible contraction. The pace of growth appeared the most rapid in 2017 with an increase of X% against the previous year. The exports peaked at $X in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

Exports by Country

The UK (X litres), the United States (X litres) and Canada (X litres) were the main destinations of wine exports from Australia, with a combined X% share of total exports. New Zealand, the Netherlands, Belgium, Denmark, Japan, Germany, Hong Kong SAR and China lagged somewhat behind, together comprising a further X%.

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

In value terms, the largest markets for wine exported from Australia were the United States ($X), the UK ($X) and Canada ($X), together accounting for X% of total exports. Hong Kong SAR, New Zealand, Japan, the Netherlands, Denmark, Belgium, Germany and China lagged somewhat behind, together comprising a further X%.

Hong Kong SAR, with a CAGR of X%, recorded the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

The average wine export price stood at $X per litre in 2022, with a decrease of X% against the previous year. Overall, export price indicated a slight expansion from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, wine export price decreased by X% against 2019 indices. The most prominent rate of growth was recorded in 2018 an increase of X% against the previous year. Over the period under review, the average export prices hit record highs at $X per litre in 2019; however, from 2020 to 2022, the export prices remained at a lower figure.

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

Wine Imports

Imports into Australia

In 2022, wine imports into Australia rose remarkably to X litres, surging by X% against the previous year. Over the period under review, imports, however, saw a slight slump. The pace of growth was the most pronounced in 2020 with an increase of X% against the previous year. Over the period under review, imports attained the peak figure at X litres in 2017; however, from 2018 to 2022, imports remained at a lower figure.

In value terms, wine imports totaled $X in 2022. The total import value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2021 when imports increased by X%. Imports peaked in 2022 and are expected to retain growth in years to come.

Imports by Country

In 2022, New Zealand (X litres) constituted the largest supplier of wine to Australia, accounting for a X% share of total imports. Moreover, wine imports from New Zealand exceeded the figures recorded by the second-largest supplier, France (X litres), twofold. 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 New Zealand 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, the largest wine suppliers to Australia were France ($X), New Zealand ($X) and Italy ($X), with a combined X% share of total imports. The United States, Spain, Argentina and South Africa lagged somewhat behind, together comprising a further X%.

Among the main suppliers, the United States, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other 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 X% against the previous year. Over the period under review, import price indicated pronounced growth from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, wine import price increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2018 when the average import price increased by X% against the previous year. Over the period under review, average import prices attained the maximum at $X per litre in 2021, and then reduced in the following year.

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 ($X per litre), while the price for South Africa ($X per litre) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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