Australia: Wine Market 2024

Wine Market Size in Australia

The Australian wine market skyrocketed to $X in 2021, picking up by 55% against the previous year. Over the period under review, consumption continues to indicate a resilient increase. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Wine Production in Australia

In value terms, wine production reached $X in 2021 estimated in export price. In general, the total production indicated pronounced growth from 2012 to 2021: its value increased at an average annual rate of +2.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -5.0% against 2019 indices. The pace of growth appeared the most rapid in 2018 with an increase of 27% against the previous year. Wine production peaked at $X in 2019; however, from 2020 to 2021, production stood at a somewhat lower figure.

Wine Exports

Exports from Australia

In 2021, the amount of wine exported from Australia dropped remarkably to X litres, with a decrease of -21.7% against 2020. Over the period under review, exports showed a pronounced contraction. The growth pace was the most rapid in 2015 with an increase of 9.5% against the previous year. The exports peaked at X litres in 2017; however, from 2018 to 2021, the exports failed to regain momentum.

In value terms, wine exports dropped sharply to $X in 2021. Overall, exports saw a perceptible curtailment. The most prominent rate of growth was recorded in 2017 with an increase of 18% against the previous year. The exports peaked at $X in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

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 66% share of total exports. These countries were followed by New Zealand, the Netherlands, Belgium, Denmark, Singapore, Japan, Germany, Hong Kong SAR and China, which together accounted for a further 25%.

From 2012 to 2021, the biggest increases were recorded for Belgium (with a CAGR of +6.3%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for wine exported from Australia were the UK ($X), the United States ($X) and Hong Kong SAR ($X), together accounting for 51% of total exports. Canada, Singapore, New Zealand, the Netherlands, Japan, Denmark, Belgium, China and Germany lagged somewhat behind, together comprising a further 32%.

Singapore, with a CAGR of +10.5%, 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 more modest paces of growth.

Export Prices by Country

In 2021, the average wine export price amounted to $X per litre, approximately mirroring the previous year. Overall, export price indicated a measured increase from 2012 to 2021: its price increased at an average annual rate of +2.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, wine export price decreased by -8.0% against 2019 indices. The most prominent rate of growth was recorded in 2018 an increase of 35%. The export price peaked at $X per litre in 2019; however, from 2020 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: 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 2021, the most notable rate of growth in terms of prices was recorded for supplies to Hong Kong SAR (+13.2%), while the prices for the other major destinations experienced more modest paces of growth.

Wine Imports

Imports into Australia

In 2021, imports of wine into Australia fell modestly to X litres, declining by -3.5% on the year before. In general, imports recorded a pronounced curtailment. The pace of growth appeared the most rapid in 2020 when imports increased by 16% against the previous year. Over the period under review, imports hit record highs at X litres in 2017; however, from 2018 to 2021, imports failed to regain momentum.

In value terms, wine imports surged to $X in 2021. The total import value increased at an average annual rate of +2.5% over the period from 2012 to 2021; however, the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, New Zealand (X litres) constituted the largest supplier of wine to Australia, accounting for a 53% share of total imports. Moreover, wine imports from New Zealand exceeded the figures recorded by the second-largest supplier, France (X litres), threefold. The third position in this ranking was taken by Italy (X litres), with a 14% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from New Zealand amounted to -3.4%. The remaining supplying countries recorded the following average annual rates of imports growth: France (-1.7% per year) and Italy (+1.2% per year).

In value terms, the largest wine suppliers to Australia were France ($X), New Zealand ($X) and Italy ($X), together comprising 92% of total imports.

In terms of the main suppliers, Italy, with a CAGR of +10.9%, recorded the highest growth rate of 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

In 2021, the average wine import price amounted to $X per litre, surging by 25% against the previous year. Over the period under review, import price indicated tangible growth from 2012 to 2021: its price increased at an average annual rate of +4.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2018 when the average import price increased by 50% against the previous year. Over the period under review, average import prices hit record highs in 2021 and is likely to see steady growth in years to come.

Prices varied noticeably by country of origin: 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 2021, the most notable rate of growth in terms of prices was attained by Italy (+9.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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