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Allegrini 2018
ANALYSIS

World wine trade is slowing down in volume but growing in value. Sparkling wine still the superstar

Customs data from various countries were analyzed by the Observatory Español del Mercado del Vino. France and Italy still world wide leaders
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Sparkling wines are still driving growth in world wine trade

Less wine is being traded around the world, but at higher values. Sparkling wines are continuing their phenomenal growth, which has been going on for years, now. France and Italy are the absolute leaders according to all parameters, though there is still a great difference in value. The trends are clear, especially analyzing the International wine trade over the past 12 months, between June 2021 and June 2022, and become clearer yet looking just at the first half of 2022. Data have confirmed, on the one hand, the long-term trend period of consumption premiumization, as consumers all over the world, more or less on the same levels, are orienting consumption in the name of “less but better”. However, data also revealed the effects of the challenges linked to recent increases in energy costs and transportation.
According to customs data from various countries, analyzed by the Observatory of the Spanish Wine Market (OEMV), world exports between June 2021 and June 2022 decreased by 0.9% in volume, reaching a total of 10.803 million liters, compared to an absolute record value of 36.258 million euros. Growth went up to +10.9%, and the average price increased by +11.8%, jumping from 3 to 3.36 euros per liter. Still wine in the bottle continues to represent 52% of the total volume exported (5.676 million liters, -1.7%), and 68% of the value (24.662 million euros, + 8.1%). The sparkling wine sector, instead is growing even more, confirming a definitely positive period in the medium to long term as well: + 14% in volume, to 1.123 million liters, and 27.8% in value, to 8.257 million euros. Bubbles are now worth 22.8% of wine exports in value, and 10.3% in quantity, and are the type that has the highest average price (7.4 euros per liter versus 4.3 euros for bottled still wines).

Bulk wines, however, registered a negative sign though they continue to represent almost a third of volumes. They are worth just 7% in value and both parameters are down, -1.9% in quantity (35 million hectoliters) and -2.5% in value (2.549 million euros). Following the boom bulk wines experienced during the Pandemic, bag-in-box was down, -11% in volume (375 million liters), while stable in value (-0.1% for 672 million euros).
Observing the main exporting countries, France is the leader in value, at 11.759 million euros exported between June 2021 and June 2022 (+14.7%, and +15.5% average price increase to 8.16 euros per liter). Italy is in second place at 7.564 million euros, +11.6% (and the average price growing +7.5%, to 3.4 euros per liter), followed at a distance by Spain, at 2.986 million euros (+4.1%).
Italy maintains its leadership in volume of exports, reaching 2.224 million liters (+3.8%), ahead of Spain (2.195 million liters, -3%) and France (1.440 million liters, -0.6%). However, looking at the first half of 2022, between January and June 2022, the value of wines shipped around the world grew +11.2% overall, to 17.870 million euros (sparkling wines registered +25.1%, and bottled still wines + 8.8%), compared to -3.4% decrease in volume, to 5.131 million liters (while sparkling wines alone were still positive, even in quantity, at +9.4%).
This is the situation at the halfway point in a year that many believe will be difficult to close at the same growth rate registered in 2021, compared to 2020. Nevertheless, the year seems to be oriented towards a positive performance, showing, once again, wine’s great strength.

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