Between 2013 and 2023, the wine production in Mexico exhibited significant fluctuation. Starting from 41.5 thousand metric tons in 2013, production saw a peak in 2016 at 44.14 thousand metric tons before gradually declining to 26.83 thousand metric tons by 2023. Over the last two years, the year-on-year variation indicated a consistent downward trend, with decreases of 6.6% in 2022 and 6.93% in 2023. The CAGR over the last five years stood at -6.96% as of 2023.
Looking ahead, the forecast from 2024 to 2028 predicts a continued decline with a forecasted 5-year CAGR of -7.82%, leading to an overall drop of 33.44% by 2028. The trend suggests enduring decreases in production levels, emphasizing the need for addressing underlying challenges.
Future trends to watch for:
- Climate change impact on vineyard yields
- Technological advancements in wine production
- Shifts in consumer preferences and demand
- Government policies and support for the wine industry
