The European wine market in 2023 was dominated by France, Italy, and Spain, with turnovers of 43.06, 23.88, and 15.55 million Euros respectively. France saw a notable increase with a year-on-year growth of 9.17%, while Italy grew by 1.77%. Germany showed the highest growth rate among the major wine producers with an increase of 10.99%. However, Spain experienced a slight decline of 0.61%, continuing a long-term trend of stabilization. Smaller markets like Serbia and Cyprus exhibited significant growth at 14.66% and 6.14% respectively, indicating emerging interest in their wine industries. Conversely, countries like Hungary, Romania, and Bulgaria saw mild declines.
Future trends to watch include potential continued diversification of consumer preferences encouraging growth in emerging wine-producing countries. The impact of climate change on traditional wine regions could also shift production dynamics favoring northern European countries. Another trend is the increasing consumer demand for sustainable and organic wine options influencing production methods and market positioning.
Top countries in Wine Turnover Share by Country (Million Euros)
| # | 10 Countries | Percent | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 France | 43.06 | 2023 | +4.86% | +9.17% | View data |
| 2 | 2 Italy | 23.88 | 2023 | +2.98% | +1.77% | View data |
| 3 | 3 Spain | 15.55 | 2023 | +1.94% | -0.61% | View data |
| 4 | 4 Germany | 8.66 | 2023 | +10.07% | +10.99% | View data |
| 5 | 5 Portugal | 3.59 | 2023 | +2.04% | +1.68% | View data |
| 6 | 6 Greece | 0.76 | 2023 | +4.94% | +0.2% | View data |
| 7 | 7 Hungary | 0.69 | 2023 | +0.3% | -0.9% | View data |
| 8 | 8 Romania | 0.46 | 2023 | +1.46% | -0.83% | View data |
| 9 | 9 Austria | 0.39 | 2023 | -0.58% | -0.49% | View data |
| 10 | 10 Bulgaria | 0.25 | 2023 | +5.04% | -0.86% | View data |
