Wine tarding is probably one of the most dynamic categories with international trade of all Food and Beverages products. Winemaking is as old as 9000 years but now this industry is getting through a deep transformation, and it opens new horizons for consumers, exporters, and importers.
According to OIV in the year 2022, the global wine export value was estimated at 37,6 bln EUR, the highest figure ever recorded, this was 9% higher than in the year 2021. In terms of value, France was the country’s exporter number one with exports worth 12,3 bln EUR (more than 30% of all exports worldwide). France is followed by Italy and Spain; these three countries are top producers and exporters (53% of exports in value, 57 mhl in 2022). The USA leads the ranking of the top wine importers (followed by Germany and the UK).
Pic. #1: Evolution of international trade of wine by value (www.oiv.int)
The consumption trend seems however to be contradictory. On the one hand, the forecast prepared by Statista demonstrates that global revenue (in retail price equivalent) will significantly grow and reach $215 bln by 2028 (compared to $172 bln in 2023).
On the other hand, according to OIV wine consumption is declining (-1% in 2022 vs 2021) mainly because of the consumption decline in China (-16% drop in 2021 vs 2022).
Pic. #2: Evolution of world wine consumption (www.oiv.int)
New technologies, digital tools and using AI in sales, make wine trading easier, but consumers (especially the young generation) and retailers expect more than just a good product from winemakers and exporters. However, market validation poses a significant challenge for the wine industry. With constantly changing consumer preferences and market dynamics, ensuring that products align with market demands and trends is crucial
How to face this challenge? Where is the opportunity? Below we will update you on the key expected trends in 2024:
- Sparkling wines and Champagne. This category is stably growing everywhere in the world in terms of both volume and value. New fashionable drinks and cocktails based on sparkling wines are created in the HORECA channel everywhere in the world. Specialists expect that in 2028 fizzy wines will “beat” beer as the most popular drink in the USA. Champagne, Cava, and Prosecco will continue their triumph.
- In 2022 first time in history, white wine and rose accounted for more than half of global consumption (53%) reported OIV. And rose consumption is growing faster than white wine consumption. The global market for rose wine is forecasted to grow at CAGR 5,5% through 2033.
Pic. #3: Rose testing during the trade fair in Paris, 2024
- Natural and sustainable wines. In some countries (particularly, in the US, Western and Northern Europe) consumers pay more and more attention to sustainability trends in agriculture and specifically the wine-making category. This means that wine traders and producers who want to follow the trend have to transform the whole technology of wine-making.
- E-commerce and wine-related apps. B2B ecommerce and Online shopping has become trendy during the COVID-19 pandemic, but some app developers are going the extra mile here: providing consultations and other services. Many wine lovers would probably argue here. “Blind” online shopping can hardly substitute vineyard testing and wine bars. But the trends are very clear: consumers from all over the world purchase more and more wines online.
- French start-up accelerator “La Wine Tech” was founded in 2019 and states that: “WineTech relies on innovation and digitalization. The technological solutions developed by start-ups offer new solutions for discovering, choosing, storing, consuming or buying wine … and thus offer real growth opportunities for the sector”. The company created a whole ecosystem that helps the industry with digital transformation. https://www.lawinetech.com
