Cyprus Wine Industry Outlook 2022 - 2026

Key Market Indicators

Revenue from Cypriot wine is expected to drop to €14.88 million by 2026, from €22.32 million in 2021. This would be a decline of about 7% each year on average. Since 2013, Cypriot wine revenue has increased by 2.6% year on year. In 2021, Belgium overtook Cyprus in the rankings, coming in at number 16. Italy, Spain and Germany respectively came in second, third and fourth. Cypriot wine consumption is predicted to rise slightly, to 18.42 thousand metric tons by 2026. This is up from 18.05 thousand metric tons in 2021, equating to an annual increase of 0.1%. Since 2017, demand for Cypriot wine has decreased by 1.7% year on year. In 2021, Cuba overtook Cyprus in the rankings, coming in at number 57. France, the United States and Italy respectively were second, third and fourth. Cypriot wine production is expected to drop to 6,330 metric tons by 2026, from 9,410 metric tons in 2021. This would be a decrease of about 7% each year on average. Since 1966, Cypriot wine supply has increased by 6.3% year on year. In 2021, Serbia moved ahead of Cyprus in the rankings, coming in at number 46. France, Spain and the United States respectively were second, third and fourth.

Cyprus Wine Market Data and Forecasts

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