In 2023, the UK imported fortified wine or must valued at approximately 2.41 billion US dollars. Starting from 2024, forecasts indicate a steady decline in import values, with a year-on-year decrease: -2.5% in both 2025 and 2026, -2.5% in 2027, and -2.5% in 2028. The compound annual growth rate (CAGR) over the five-year period from 2024 to 2028 is projected at -2.4%, reflecting a consistent downward trend in imports.
Future trends to watch for include:
- Impact of changing consumer preferences and potential substitution with local alternatives.
- Trade policies and international trade agreements influencing import volumes and values.
- Fluctuations in foreign exchange rates which may affect pricing structures and import capabilities.