The wine production in Chile exhibited fluctuations from 2013 to 2023, starting at 12.8 million hectoliters in 2013 and reaching 12.0 million hectoliters in 2023. The peak within this period was in 2015 with 12.9 million hectoliters, while the lowest point was in 2014 and 2016 with 10.0 million and 10.1 million hectoliters, respectively. Significant year-on-year variations were observed such as a decline of -21.87% in 2014 and an increase of 29% in 2015. The variation over the last two years (2022 and 2023) was relatively stable at around 1.25% and 1.34% respectively, indicating modest growth. The compound annual growth rate (CAGR) over the last five years up to 2023 stood at approximately 1.34%.
Looking ahead from 2024, the wine production is forecasted to continue its growth, reaching up to 12.78 million hectoliters by 2028. The forecasted 5-year compound annual growth rate is anticipated to be around 0.99%, suggesting a relatively stable but modest increment in production, with an overall growth rate projected at 5.03% over this period.
Future trends to watch for include the impact of climatic conditions, as these can significantly influence grape yields and, consequently, wine production volumes. Additionally, global market demand and international trade dynamics will play critical roles in shaping Chile's wine industry landscape.
