The wine market in Africa has seen fluctuating trends over the past decade, with significant dips and rebounds. The market volume stood at 759.0 thousand metric tons in 2023, marking no change year-on-year from 2022, but reflecting a negative CAGR of -0.42% over the last five years. Between 2014 and 2019, the market saw a generally downward trend, with notable recovery in 2018. However, this recovery was followed by dips in 2019 and 2020, before stabilizing around 759.0 thousand metric tons from 2021 onwards.
Future trends to watch for include the slight expected decrease in market volume, with the forecasted 5-year CAGR from 2023 to 2028 being -0.02%. This indicates a relatively stable market with minor fluctuations, suggesting the importance of monitoring regional economic factors, changing consumer preferences, and potential impacts of climate change on wine production.
