Key Market Indicators
Australian wine consumption is projected to hit 473,000 metric tons by 2028, up from 465,000 metric tons in 2023. This marks an average annual growth rate of 0.3%. Since 2019, the demand for wine in Australia has increased by 0.8% annually. In 2023, Australia ranked ninth in wine consumption, with Russia surpassing it with the same volume of 465,000 metric tons. France, the United States, and Italy occupied the second, third, and fourth spots, respectively. Meanwhile, Australian wine production is expected to reach approximately 1.45 million metric tons by 2028, rising from around 1.38 million metric tons in 2023. This represents a compound annual growth rate (CAGR) of 0.8%. The country's wine supply has been on an upward trajectory since 1966, growing at an annual rate of 1.5%. In 2023, Australia ranked sixth in wine production, with China overtaking it with the same volume of approximately 1.38 million metric tons. France, Spain, and the United States were the second, third, and fourth largest producers, respectively.
