Over the past 10 years, the wine market size volume in Angola has seen a consistent decline from 69.0 thousand metric tons in 2014 to 38.0 thousand metric tons in 2023, indicating a significant contraction in the market. The volume stood at 38.0 thousand metric tons in 2023, registering a year-on-year decrease of 5% and a CAGR of -4.56% over the last five years.
Key trends observed:
- Steady decline in consumption with occasional minor recoveries, such as in 2018 with a 9.09% increase.
- Significant drops in certain years, notably in 2015 (-15.94%) and 2020 (-20.69%).
- Recent years have shown a moderate decline with minor fluctuations, culminating in a -5% year-on-year decrease for 2023.
- Forecasts indicate this declining trend will continue, with a projected market size volume of 29.65 thousand metric tons by 2028, implying a forecasted CAGR of -3.97% and a total forecasted contraction of -18.32% over the next five years.
Future trends to watch for:
- Economic factors affecting disposable income and consumer purchasing power in Angola.
- Changes in consumer preferences and the potential for market disruptions by new or alternative beverages.
- Impact of international trade policies and local wine production variations on supply and pricing.
- Potential influence of technological advancement in wine production and distribution channels on market dynamics.
