From 2012 to 2022, the Swedish wine market witnessed fluctuations, beginning with a relatively strong performance with a 5.22% year-on-year growth in 2012, followed by a peak in 2014, which saw an impressive 11.87% increase. However, from 2015 onward, the market faced a series of declines and moderate improvements, reaching a volume of 198.24 Million Liters in 2022. Notably, the Compound Annual Growth Rate (CAGR) over the past five years stands at -0.9%, indicating a slight average annual decrease in market volume.
Recent years show a slowing decline, with the market reducing only by 0.58% in 2021 and experiencing a minimal growth of 0.14% in 2022. Notably, the last two years saw variations aligning closely around the 0% mark, suggesting a stabilization in the market.
Looking ahead, key trends to monitor include the impact of changing consumer preferences towards non-alcoholic alternatives, the influence of sustainability practices in wine production, and the effects of economic factors such as inflation on consumer spending. The 2024 forecasted data will provide insight into whether the market stabilizes or shifts significantly.
How does Sweden rank in Wine Market Size Volume?
| # | 15 Countries | Liters | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 France | 4,301,100,000 | 2023 | +3.17% | +0.078% | View data |
| 2 | 2 Germany | 2,074,400,000 | 2023 | +3.43% | +4.22% | View data |
| 3 | 3 United Kingdom | 1,257,000,000 | 2023 | +0.26% | +0.8% | View data |
| 4 | 4 Portugal | 1,000,600,000 | 2023 | +4.52% | +3.65% | View data |
| 5 | 5 Sweden | 202,840,000 | 2023 | +1.04% | +0.52% | |
| 6 | 6 Czech Republic | 168,480,000 | 2023 | +1.22% | -2.07% | View data |
| 7 | 7 Denmark | 166,800,000 | 2023 | +2.67% | +2.26% | View data |
