The wine market size by volume in Oceania saw appreciable fluctuations over the past decade. In 2023, the volume stood at 512 thousand metric tons. From 2014 to 2023, the market exhibited oscillating trends. Following declines in 2015 and 2016, the market rebounded robustly in 2017 with a substantial growth rate of 32.13%. Thereafter, from 2018 onwards, the market stabilized with minor fluctuations, most notably a small year-on-year growth of 0.39% observed in 2022 and 2023. The 5-year CAGR leading up to 2023 was observed to be 0.6%, illustrating gradual growth. Forecasts indicate a modest growth with a 5-year CAGR of 0.31% by 2028, reaching a volume of 522.1 thousand metric tons, reflecting an incremental growth rate of 1.56% over this period.
Future trends to watch for include advancements in sustainable and organic wine production, shifts in consumer preferences towards premium varieties, and the impact of climate change on grape yields. Additionally, trade policies and emerging markets within Oceania could play crucial roles in shaping the future landscape of the wine market.
