Portugal: Sparkling Wine Market 2024

Sparkling Wine Market Size in Portugal

After seven years of decline, the Portuguese sparkling wine market increased by 29% to $X in 2022. In general, consumption, however, recorded a abrupt decline. Sparkling wine consumption peaked at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Sparkling Wine Production in Portugal

In value terms, sparkling wine production soared to $X in 2022 estimated in export price. Over the period under review, production, however, showed a abrupt decline. Over the period under review, production attained the peak level at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Sparkling Wine Exports

Exports from Portugal

In 2022, the amount of sparkling wine exported from Portugal skyrocketed to X litres, jumping by 19% on the previous year's figure. In general, exports, however, continue to indicate a noticeable descent. The growth pace was the most rapid in 2018 with an increase of 44% against the previous year. 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, sparkling wine exports expanded remarkably to $X in 2022. Over the period under review, exports, however, recorded a perceptible decline. The most prominent rate of growth was recorded in 2018 when exports increased by 60%. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Angola (X litres), the United States (X litres) and Brazil (X litres) were the main destinations of sparkling wine exports from Portugal, together accounting for 31% of total exports. These countries were followed by the United Arab Emirates, France, Spain, the UK, the Netherlands, Canada, Nigeria, Japan, Switzerland and Ireland, which together accounted for a further 39%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Ireland (with a CAGR of +29.1%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for sparkling wine exported from Portugal were Angola ($X), Brazil ($X) and the United States ($X), with a combined 36% share of total exports. These countries were followed by the Netherlands, Spain, the UK, France, Japan, Switzerland, Canada, the United Arab Emirates, Nigeria and Ireland, which together accounted for a further 36%.

Ireland, with a CAGR of +22.9%, saw the highest growth rate of the value of exports, in terms of 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

The average sparkling wine export price stood at $X per litre in 2022, reducing by -9.9% against the previous year. Over the period under review, the export price recorded a relatively flat trend pattern. The growth pace was the most rapid in 2014 an increase of 92%. As a result, the export price attained the peak level of $X per litre. From 2015 to 2022, the average export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the Netherlands ($X per litre), while the average price for exports to the United Arab Emirates ($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 Spain (+7.7%), while the prices for the other major destinations experienced more modest paces of growth.

Sparkling Wine Imports

Imports into Portugal

In 2022, the amount of sparkling wine imported into Portugal was estimated at X litres, surging by 3.4% on the previous year. Over the period under review, imports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when imports increased by 40% against the previous year. Imports peaked in 2022 and are expected to retain growth in years to come.

In value terms, sparkling wine imports rose rapidly to $X in 2022. The total import value increased at an average annual rate of +1.5% 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 with an increase of 46% against the previous year. Imports peaked in 2022 and are expected to retain growth in the near future.

Imports by Country

Italy (X litres), Spain (X litres) and France (X litres) were the main suppliers of sparkling wine imports to Portugal, with a combined 94% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Spain (with a CAGR of +13.4%), while imports for the other leaders experienced mixed trend patterns.

In value terms, France ($X) constituted the largest supplier of sparkling wine to Portugal, comprising 62% of total imports. The second position in the ranking was held by Italy ($X), with a 21% share of total imports. It was followed by Spain, with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of value from France totaled +2.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (-1.2% per year) and Spain (+5.4% per year).

Import Prices by Country

The average sparkling wine import price stood at $X per litre in 2022, rising by 5.5% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.3%. The pace of growth appeared the most rapid in 2018 an increase of 28%. As a result, import price attained the peak level of $X per litre. From 2019 to 2022, the average 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 ($X per litre), while the price for Spain ($X per litre) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (+2.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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