Chile: Wine Market 2024

Wine Market Size in Chile

After two years of decline, the Chilean wine market increased by 37% to $X in 2021. Over the period under review, consumption, however, recorded a abrupt downturn. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Wine Production in Chile

In value terms, wine production amounted to $X in 2021 estimated in export price. Over the period under review, production, however, saw a pronounced downturn. The pace of growth was the most pronounced in 2018 with an increase of 49% against the previous year. As a result, production attained the peak level of $X. From 2019 to 2021, production growth remained at a lower figure.

Wine Exports

Exports from Chile

In 2021, approx. X litres of wine were exported from Chile; increasing by 2% on 2020 figures. The total export volume increased at an average annual rate of +1.7% over the period from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations in certain years. The growth pace was the most rapid in 2013 when exports increased by 17% against the previous year. The exports peaked at X litres in 2017; however, from 2018 to 2021, the exports stood at a somewhat lower figure.

In value terms, wine exports stood at $X in 2021. The total export value increased at an average annual rate of +1.1% over the period from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations in certain years. The most prominent rate of growth was recorded in 2017 when exports increased by 9%. As a result, the exports attained the peak of $X; afterwards, it flattened through to 2021.

Exports by Country

The United States (X litres), China (X litres) and the UK (X litres) were the main destinations of wine exports from Chile, together comprising 48% of total exports. These countries were followed by Brazil, Japan, Germany, the Netherlands, Canada, South Korea, Mexico, Denmark, Russia and Spain, which together accounted for a further 35%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by South Korea (with a CAGR of +12.0%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for wine exported from Chile were China ($X), the United States ($X) and the UK ($X), with a combined 41% share of total exports. Brazil, Japan, the Netherlands, Canada, South Korea, Germany, Mexico, Denmark, Russia and Spain lagged somewhat behind, together comprising a further 38%.

In terms of the main countries of destination, South Korea, with a CAGR of +11.8%, saw 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 2021, the average wine export price amounted to $X per litre, with an increase of 6.2% against the previous year. Over the period under review, the export price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the average export price increased by 9.9% against the previous year. The export price peaked at $X per litre in 2012; however, from 2013 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 South Korea ($X per litre), while the average price for exports to Spain ($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 Spain (+3.0%), while the prices for the other major destinations experienced more modest paces of growth.

Wine Imports

Imports into Chile

In 2021, imports of wine into Chile skyrocketed to X litres, picking up by 70% compared with 2020 figures. Over the period under review, imports showed a significant increase. The pace of growth appeared the most rapid in 2013 with an increase of 72% against the previous year. Imports peaked in 2021 and are likely to continue growth in the near future.

In value terms, wine imports soared to $X in 2021. In general, imports showed a prominent increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Spain (X litres), Argentina (X litres) and Italy (X litres) were the main suppliers of wine imports to Chile, with a combined 71% share of total imports. Poland, France, Germany and Moldova lagged somewhat behind, together accounting for a further 28%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Moldova (with a CAGR of +324.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest wine suppliers to Chile were Italy ($X), Spain ($X) and Argentina ($X), together comprising 70% of total imports. These countries were followed by Poland, France, Germany and Moldova, which together accounted for a further 27%.

In terms of the main suppliers, Moldova, with a CAGR of +279.4%, 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

The average wine import price stood at $X per litre in 2021, almost unchanged from the previous year. In general, the import price saw a abrupt shrinkage. The most prominent rate of growth was recorded in 2014 an increase of 33% against the previous year. Over the period under review, average import prices reached the maximum at $X per litre in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was France ($X per litre), while the price for Moldova ($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 (+0.5%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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