Latin America and the Caribbean: Sparkling Wine Market 2024

Sparkling Wine Market Size in Latin America and the Caribbean

The Latin American sparkling wine market contracted modestly to $X in 2023, shrinking by X% against the previous year. The market value increased at an average annual rate of X% from 2012 to 2023; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed in certain years. Over the period under review, the market reached the maximum level at $X in 2018; however, from 2019 to 2023, consumption remained at a lower figure.

Sparkling Wine Production in Latin America and the Caribbean

In value terms, sparkling wine production dropped to $X in 2023 estimated in export price. Overall, production, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2017 with an increase of X% against the previous year. As a result, production reached the peak level of $X. From 2018 to 2023, production growth remained at a lower figure.

Sparkling Wine Exports

Exports in Latin America and the Caribbean

In 2023, after two years of growth, there was significant decline in shipments abroad of sparkling wine, when their volume decreased by X% to X litres. Overall, exports continue to indicate a noticeable setback. The most prominent rate of growth was recorded in 2022 with an increase of X%. The volume of export peaked at X litres in 2012; however, from 2013 to 2023, the exports remained at a lower figure.

In value terms, sparkling wine exports reduced to $X in 2023. In general, exports recorded a noticeable shrinkage. The growth pace was the most rapid in 2022 with an increase of X%. The level of export peaked at $X in 2012; however, from 2013 to 2023, the exports stood at a somewhat lower figure.

Exports by Country

Argentina (X litres) and Chile (X litres) dominates exports structure, together making up X% of total exports. It was distantly followed by Brazil (X litres), achieving a X% share of total exports.

From 2012 to 2023, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Brazil (with a CAGR of X%), while the other leaders experienced a decline in the exports figures.

In value terms, Argentina ($X), Chile ($X) and Brazil ($X) were the countries with the highest levels of exports in 2023, together accounting for X% of total exports.

In terms of the main exporting countries, Brazil, with a CAGR of X%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced a decline in the exports figures.

Export Prices by Country

In 2023, the export price in Latin America and the Caribbean amounted to $X per litre, growing by X% against the previous year. Over the period under review, the export price saw a relatively flat trend pattern. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Chile ($X per litre), while Brazil ($X per litre) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Chile (X%), while the other leaders experienced a decline in the export price figures.

Sparkling Wine Imports

Imports in Latin America and the Caribbean

In 2023, overseas purchases of sparkling wine decreased by X% to X litres for the first time since 2020, thus ending a two-year rising trend. Total imports indicated a noticeable increase from 2012 to 2023: its volume increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports increased by X% against 2020 indices. The pace of growth was the most pronounced in 2021 when imports increased by X%. The volume of import peaked at X litres in 2022, and then contracted in the following year.

In value terms, sparkling wine imports contracted to $X in 2023. Total imports indicated a temperate increase from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports increased by X% against 2020 indices. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. The level of import peaked at $X in 2022, and then contracted in the following year.

Imports by Country

Mexico (X litres) and Brazil (X litres) represented the main importers of sparkling wine in 2023, accounting for near X% and X% of total imports, respectively. The Dominican Republic (X litres) took the next position in the ranking, followed by Peru (X litres) and Colombia (X litres). All these countries together took near X% share of total imports. The following importers - Ecuador (X litres), Chile (X litres), Aruba (X litres), Venezuela (X litres), Jamaica (X litres), Paraguay (X litres) and Guatemala (X litres) - together made up X% of total imports.

From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Ecuador (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Mexico ($X) constitutes the largest market for imported sparkling wine in Latin America and the Caribbean, comprising X% of total imports. The second position in the ranking was taken by Brazil ($X), with an X% share of total imports. It was followed by the Dominican Republic, with a X% share.

In Mexico, sparkling wine imports expanded at an average annual rate of X% over the period from 2012-2023. In the other countries, the average annual rates were as follows: Brazil (X% per year) and the Dominican Republic (X% per year).

Import Prices by Country

In 2023, the import price in Latin America and the Caribbean amounted to $X per litre, surging by X% against the previous year. Over the period under review, the import price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2022 when the import price increased by X%. The level of import peaked at $X per litre in 2014; however, from 2015 to 2023, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Mexico ($X per litre), while the Dominican Republic ($X per litre) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Paraguay (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform