Chile: Sparkling Wine Market 2024

Sparkling Wine Market Size in Chile

In 2022, the Chilean sparkling wine market decreased by -9.4% to $X for the first time since 2019, thus ending a two-year rising trend. Overall, consumption recorded a abrupt decrease. Over the period under review, the market reached the peak level at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Sparkling Wine Production in Chile

In value terms, sparkling wine production contracted to $X in 2022 estimated in export price. Over the period under review, production showed a abrupt slump. The growth pace was the most rapid in 2021 when the production volume increased by 1.7% against the previous year. Sparkling wine production peaked at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Sparkling Wine Exports

Exports from Chile

In 2022, shipments abroad of sparkling wine increased by 9.7% to X litres, rising for the second year in a row after four years of decline. Over the period under review, exports, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 when exports increased by 22%. As a result, the exports reached the peak of X litres. From 2017 to 2022, the growth of the exports remained at a lower figure.

In value terms, sparkling wine exports expanded modestly to $X in 2022. In general, exports, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2014 when exports increased by 18% against the previous year. Over the period under review, the exports hit record highs at $X in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

Exports by Country

Japan (X litres) was the main destination for sparkling wine exports from Chile, accounting for a 38% share of total exports. Moreover, sparkling wine exports to Japan exceeded the volume sent to the second major destination, Colombia (X litres), threefold. Brazil (X litres) ranked third in terms of total exports with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Japan amounted to +5.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Colombia (+19.2% per year) and Brazil (+15.0% per year).

In value terms, Japan ($X) remains the key foreign market for sparkling wine exports from Chile, comprising 41% of total exports. The second position in the ranking was taken by Colombia ($X), with a 13% share of total exports. It was followed by Brazil, with an 8.4% share.

From 2012 to 2022, the average annual growth rate of value to Japan stood at +5.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Colombia (+18.5% per year) and Brazil (+11.6% per year).

Export Prices by Country

In 2022, the average sparkling wine export price amounted to $X per litre, waning by -4.4% against the previous year. Overall, the export price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when the average export price increased by 9% against the previous year. As a result, the export price reached the peak level of $X per litre. From 2021 to 2022, the average export prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Canada ($X per litre), while the average price for exports to the United Arab Emirates ($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 the United Arab Emirates (+0.8%), while the prices for the other major destinations experienced mixed trend patterns.

Sparkling Wine Imports

Imports into Chile

In 2022, after two years of growth, there was significant decline in overseas purchases of sparkling wine, when their volume decreased by -34.9% to X litres. Over the period under review, imports, however, recorded resilient growth. The growth pace was the most rapid in 2013 when imports increased by 123%. Imports peaked at X litres in 2021, and then contracted significantly in the following year.

In value terms, sparkling wine imports contracted notably to $X in 2022. Overall, imports, however, showed a buoyant increase. The pace of growth was the most pronounced in 2021 when imports increased by 88%. As a result, imports reached the peak of $X, and then contracted significantly in the following year.

Imports by Country

Italy (X litres), Argentina (X litres) and Spain (X litres) were the main suppliers of sparkling wine imports to Chile, together accounting for 91% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Italy (with a CAGR of +37.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Italy ($X) constituted the largest supplier of sparkling wine to Chile, comprising 57% of total imports. The second position in the ranking was held by Spain ($X), with a 15% share of total imports. It was followed by Argentina, with a 15% share.

From 2012 to 2022, the average annual growth rate of value from Italy stood at +40.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (+16.0% per year) and Argentina (-3.5% per year).

Import Prices by Country

The average sparkling wine import price stood at $X per litre in 2022, increasing by 14% against the previous year. In general, the import price, however, recorded a perceptible reduction. The growth pace was the most rapid in 2014 an increase of 43%. The import price peaked at $X per litre in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Poland (+8.2%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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