Key Market Indicators
Hungary's wine industry is projected to see modest growth in the coming years, with revenue expected to reach €368 million by 2028, up from €363 million in 2023. This marks an average yearly growth rate of 0.2%. However, this comes after a period of decline; since 2013, the Hungarian wine market has contracted by 0.9% annually. In 2023, Hungary ranked seventh globally in wine revenue, with Greece slightly ahead at €363 million. Dominating the list were Italy, Spain, and Germany, occupying the second, third, and fourth spots respectively. In terms of consumption, Hungary's wine consumption is forecasted to reach 269,000 metric tons by 2028, up from 263,000 metric tons in 2023. This represents an average annual growth rate of 0.4%. Since 2019, Hungarian wine demand has increased by 0.9% per year. In 2023, Hungary ranked 19th in global wine consumption, with Chile surpassing it at 263,000 metric tons. Leading the consumption rankings were France, the United States, and Italy, holding the second, third, and fourth places respectively. Wine production in Hungary is also on the rise, projected to hit 385,000 metric tons by 2028, up from 369,000 metric tons in 2023. This growth rate averages 0.8% annually. Historical data shows that since 1966, Hungary's wine production has increased by 0.8% each year. In 2023, Hungary was the 14th largest wine producer globally, with Russia just ahead at 369,000 metric tons. The top spots in production were claimed by France, Spain, and the United States, ranking second, third, and fourth respectively.
