Based on the data, wine consumption in Austria from 2013 to 2023 shows a fluctuating trend. In 2013 and 2014, the consumption remained steady at 2.5 million hectoliters, but then started to decline gradually to 2.39 million hectoliters by 2019. Notably, 2020 saw a sharp and significant decline to 1.98 million hectoliters, likely due to external factors such as the COVID-19 pandemic. Following this dip, there was a recovery phase with a increase to 2.38 million hectoliters by 2022. The year 2023 reported a minor decrease to 2.37 million hectoliters.
Key Variations:
- 2013-2014: No change
- 2015-2019: Gradual decline
- 2020: Sharp 17.17% decrease
- 2021: Recovery with a 14.22% increase
- 2022: 5.04% increase
- 2023: Slight decrease of 0.21%
The average annual variation over the last five years shows a decreasing trend with a CAGR of -0.21%. Looking ahead, the forecast from 2024 to 2028 indicates a slight decline in wine consumption, with a forecasted 5-year CAGR of -0.16% and a total growth rate of -0.78% by 2028.
Future Trends to Watch For:
- Changing consumer preferences towards lower alcohol consumption or alternatives like craft beers and spirits.
- Impact of sustainability and organic wine trends on consumption patterns.
- Economic factors and potential recovery post-pandemic influencing disposable income and spending on luxury goods like wine.
