Slovakia: Sparkling Wine Market 2024

Sparkling Wine Market Size in Slovakia

In 2022, the Slovak sparkling wine market increased by 18% to $X for the first time since 2019, thus ending a two-year declining trend. Overall, consumption enjoyed prominent growth. As a result, consumption attained the peak level of $X. From 2020 to 2022, the growth of the market remained at a somewhat lower figure.

Sparkling Wine Production in Slovakia

In value terms, sparkling wine production soared to $X in 2022 estimated in export price. Overall, production, however, showed a abrupt setback. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Sparkling Wine Exports

Exports from Slovakia

For the third consecutive year, Slovakia recorded growth in shipments abroad of sparkling wine, which increased by 51% to X litres in 2022. Over the period under review, exports, however, saw a mild descent. The most prominent rate of growth was recorded in 2018 with an increase of 159% against the previous year. The exports peaked at X litres in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, sparkling wine exports soared to $X in 2022. In general, exports, however, continue to indicate a abrupt curtailment. Over the period under review, the exports attained the maximum at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

The Czech Republic (X litres) was the main destination for sparkling wine exports from Slovakia, accounting for a 79% share of total exports. Moreover, sparkling wine exports to the Czech Republic exceeded the volume sent to the second major destination, Italy (X litres), ninefold. The third position in this ranking was held by Germany (X litres), with a 3.3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the Czech Republic was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (+51.4% per year) and Germany (+31.9% per year).

In value terms, the largest markets for sparkling wine exported from Slovakia were the Czech Republic ($X), Italy ($X) and Germany ($X), together comprising 47% of total exports.

Italy, with a CAGR of +37.8%, recorded the highest rates of growth with regard to 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

The average sparkling wine export price stood at $X per litre in 2022, picking up by 56% against the previous year. Over the period under review, the export price, however, saw a abrupt decrease. Over the period under review, the average export prices hit record highs at $X per litre in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Hungary ($X per litre), while the average price for exports to Taiwan (Chinese) ($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 Hungary (+16.1%), while the prices for the other major destinations experienced more modest paces of growth.

Sparkling Wine Imports

Imports into Slovakia

For the third year in a row, Slovakia recorded growth in supplies from abroad of sparkling wine, which increased by 2.7% to X litres in 2022. In general, total imports indicated a prominent increase from 2012 to 2022: its volume increased at an average annual rate of +5.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +28.4% against 2018 indices. The growth pace was the most rapid in 2018 when imports increased by 44%. Over the period under review, imports reached the peak figure in 2022 and are likely to see steady growth in the near future.

In value terms, sparkling wine imports expanded significantly to $X in 2022. Over the period under review, imports enjoyed a strong increase. The pace of growth appeared the most rapid in 2018 with an increase of 39%. Imports peaked in 2022 and are expected to retain growth in the immediate term.

Imports by Country

In 2022, Italy (X litres) constituted the largest sparkling wine supplier to Slovakia, with a 53% share of total imports. Moreover, sparkling wine imports from Italy exceeded the figures recorded by the second-largest supplier, Germany (X litres), fivefold. France (X litres) ranked third in terms of total imports with a 5.1% share.

From 2012 to 2022, the average annual growth rate of volume from Italy amounted to +7.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+0.7% per year) and France (+2.1% per year).

In value terms, the largest sparkling wine suppliers to Slovakia were Italy ($X), France ($X) and Germany ($X), with a combined 70% share of total imports.

Among the main suppliers, Italy, with a CAGR of +19.6%, 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 sparkling wine import price stood at $X per litre in 2022, with an increase of 3.9% against the previous year. Over the period under review, import price indicated resilient growth from 2012 to 2022: its price increased at an average annual rate of +5.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, sparkling wine import price decreased by -6.7% against 2020 indices. The pace of growth appeared the most rapid in 2016 when the average import price increased by 46% against the previous year. Over the period under review, average import prices hit record highs at $X per litre in 2020; however, from 2021 to 2022, 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 ($X per litre), while the price for Germany ($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 (+11.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :