Key Market Indicators
Argentinian wine consumption is projected to hold steady at around 1 million metric tons by 2028, maintaining the same level as in 2023 with a negligible year-on-year growth rate of 0%. Since 2019, the demand for wine in Argentina has slightly declined by 0.5% annually. In 2023, Argentina ranked seventh in global wine consumption. Spain led the ranking with approximately 1 million metric tons, followed by France, the United States, and Italy. In terms of production, Argentina is expected to see a slight decrease. Wine production is forecasted to drop to about 1.3 million metric tons by 2028, down from 1.34 million metric tons in 2023, reflecting a compound annual growth rate (CAGR) of -0.2%. Historically, since 1966, Argentinian wine supply has been contracting at an annual rate of 1.6%. In 2023, Argentina was seventh in global wine production, with Australia surpassing it at around 1.34 million metric tons. The leading producers were France, Spain, and the United States.
