The US wine market volume has shown significant fluctuations over the past decade. From a high of 2.88 million metric tons in 2016, it declined sharply to 2.39 million metric tons in 2018 and further to 1.99 million metric tons in 2020. The market recovered slightly in 2021 and 2022 but saw a slight decline again in 2023, standing at 2.31 million metric tons. The year-on-year variation for 2023 was -1.24%, and the five-year CAGR was -0.67%. Forecasts indicate a steady decline, with a five-year CAGR of -1.07%, projecting the market to 2.15 million metric tons by 2028.
Future trends to watch for:
- Emerging popularity of low and non-alcoholic wines.
- Increasing consumer preference for sustainable and organic wine production.
- Shifts in demographics influencing wine consumption patterns.
- Impact of global economic conditions and tariffs on wine imports and exports.
