Sunday, February 25, 2024

Germany, the world’s number one market for imported wine, has surpassed the United States

The United States remains the first market in the world in terms of the value of imported wine, but has fallen to the second position in terms of volume, surpassing Germany, which occupies the first place in this concept, although the third in value .

This is stated in a recent report World’s leading wine importers. September 2023prepared by the Spanish Wine Market Observatory (OeMv), which shows how in the year-to-year period – 12 months – to September 2023, the United States stopped spending 246 million euros and imported and 114 million liters of wine, which reached 1,298.4 million liters and 6,520.3 million euros, which means that it maintains the lead in terms of value, but falls to second place in terms of volume, surpassing Germany, which imports a total of 1,381.7 million liters. (-4.5%).

The world wine market in numbers

The main conclusions of this OeMv report are:

Annually until September 2023 World wine trade decreased by 7.2% in volume, up to 9945 million liters. This is the largest relative decrease (%) in the historical series and the lowest figure in 10 years, falling below 100 million hectoliters for the first time since early 2014.

Until recently, the price managed to remain positive, due to the better evolution of wines with greater added value, with strong global inflation, but The sharp drop in recent months – especially September – has caused the value of world wine sales to fall 2.1% of TAM in September 2023, up to 36,537 million euros.

The average price continues to risealthough it will rise lower and lower (+5.4% to €3.67/liter), because the level of inflation will slow down.

By types of wine, everything fell in volume, especially packaging, first traded in the world with more than 52% of the total. In value, sparkling and bag-in-box grew, with the bulk registering in this case the biggest drop, being the only wine that did not increase in price compared to year-to-year in September 2023. In absolute numbers, packaged wine has fallen the most in terms of value and volume.

Through markets, and for wines in general, in the year-to-year period until September 2023, the decrease recorded in the United States shows, which spent 246.4 million euros less on wine imports of it, to 6,520.3 million euros (-3. 6% ), although it clearly maintains leadership in value. In terms of volume, it decreased its purchases by 114.5 million liters, to 1,298.4 million liters (-8%). In this case it loses the lead and falls to second place, surpassing Germany, which registered a small drop of 0.4%, to 1,381.7 million liters (5.4 million). In value, Germany occupies third place, with 2,704.6 million euros (-126.4), whose average price is 1.96 euros/liter, which is lower than the world average. The United Kingdom, for its part, is the second market in the world in value, with 4,689.7 million euros (-1.5%) and third in volume, with 1,236 million liters (-9%). In value, the decrease in Canada also stands out, which stopped spending 258.9 million euros, as well as China (-226.1), Belgium (-119.6) and Hong Kong (-110.2). On the positive side we can see Russia (+220.6) or Singapore (+170.5). In terms of volume, only imports from Russia (+56.4 million liters) and Portugal (+39.2 million liters) increased, while the rest of the main markets fell, highlighting the decline in China (-97.3 million liters). liter).

And finally, about markets that increase their wine imports In the first nine months of 2023, in terms of value they are Singapore (+161.6 million euros) and Russia (+100), while in terms of volume they are Russia (+42.6 million liters) and Portugal (+20 ,9) . The United Kingdom also recorded the evolution of these nine months, however, it was not able to compensate for the losses recorded in markets such as the US, Canada, China or Belgium, among others.

World Nation News Desk
World Nation News Deskhttps://worldnationnews.com/
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