United Kingdom: Wine Market 2024

Wine Market Size in the UK

The UK wine market shrank to $X in 2021, remaining relatively unchanged against the previous year. Overall, consumption recorded a relatively flat trend pattern. Wine consumption peaked at $X in 2014; however, from 2015 to 2021, consumption stood at a somewhat lower figure.

Wine Production in the UK

In value terms, wine production surged to $X in 2021 estimated in export price. In general, production continues to indicate a abrupt decrease. Over the period under review, production hit record highs at $X in 2017; however, from 2018 to 2021, production failed to regain momentum.

Wine Exports

Exports from the UK

In 2021, overseas shipments of wine decreased by -45.9% to X litres, falling for the third consecutive year after two years of growth. Overall, exports showed a noticeable decrease. The pace of growth appeared the most rapid in 2013 when exports increased by 26% against the previous year. Over the period under review, the exports attained the peak figure at X litres in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

In value terms, wine exports shrank modestly to $X in 2021. In general, exports showed a relatively flat trend pattern. The growth pace was the most rapid in 2018 when exports increased by 14%. Over the period under review, the exports reached the peak figure at $X in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

Exports by Country

Ireland (X litres), Belgium (X litres) and Hong Kong SAR (X litres) were the main destinations of wine exports from the UK, together accounting for 45% of total exports. These countries were followed by Denmark, the Netherlands, Lithuania, France, Spain, Poland, the United States, Sweden, Latvia and Germany, which together accounted for a further 36%.

From 2012 to 2021, the biggest increases were recorded for Latvia (with a CAGR of +37.6%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Hong Kong SAR ($X) remains the key foreign market for wine exports from the UK, comprising 35% of total exports. The second position in the ranking was held by the United States ($X), with a 14% share of total exports. It was followed by France, with a 6.4% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Hong Kong SAR stood at -2.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+14.3% per year) and France (-4.0% per year).

Export Prices by Country

The average wine export price stood at $X per litre in 2021, growing by 76% against the previous year. In general, export price indicated a notable increase from 2012 to 2021: its price increased at an average annual rate of +3.9% 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 increased by +101.0% against 2018 indices. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per litre), while the average price for exports to Lithuania ($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 (+12.4%), while the prices for the other major destinations experienced more modest paces of growth.

Wine Imports

Imports into the UK

In 2021, approx. X litres of wine were imported into the UK; declining by -26.4% against the previous year's figure. Overall, imports continue to indicate a pronounced reduction. The growth pace was the most rapid in 2020 when imports increased by 27%. Imports peaked at X litres in 2015; however, from 2016 to 2021, imports stood at a somewhat lower figure.

In value terms, wine imports stood at $X in 2021. Over the period under review, imports showed a relatively flat trend pattern. Imports peaked at $X in 2014; however, from 2015 to 2021, imports failed to regain momentum.

Imports by Country

Italy (X litres), Australia (X litres) and France (X litres) were the main suppliers of wine imports to the UK, together comprising 49% of total imports. Spain, Chile, South Africa, New Zealand, Portugal, Germany and the United States lagged somewhat behind, together accounting for a further 39%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Portugal (with a CAGR of +1.1%), while imports for the other leaders experienced mixed trend patterns.

In value terms, France ($X), Italy ($X) and Spain ($X) constituted the largest wine suppliers to the UK, with a combined 58% share of total imports. These countries were followed by Australia, New Zealand, Chile, the United States, South Africa, Portugal and Germany, which together accounted for a further 32%.

In terms of the main suppliers, Portugal, with a CAGR of +2.3%, 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 48% against the previous year. Over the last nine-year period, it increased at an average annual rate of +2.4%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+22.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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