Wine consumption in Argentina saw fluctuations from 2013 to 2023. Despite occasional increases, the overall trend has been a decline. In 2013, consumption was 10.4 million hectoliters, peaking at 10.4 in 2013 and dropping to 8.76 by 2023. Key years showing significant declines include 2016 (-8.74%) and 2020 (-18.08%). There were recoveries, such as in 2021 (+18.91%). Over the last two years, consumption decreased by -1.29% in 2022 and -1.27% in 2023. The CAGR from 2018 to 2023 was -1.3%, indicating a consistent decrease.
Forecasts suggest a continued declining trend. By 2028, consumption is expected to drop to 8.17 million hectoliters, with an anticipated 5-year CAGR of -1.11% and an overall forecasted decrease of -5.42%.
Future trends to watch for:
- The impact of economic fluctuations on consumer spending.
- Rising competition from other beverages, including craft beers and spirits.
- Potential shifts in consumer preferences towards quality over quantity.
- The influence of health trends and regulations on alcohol consumption.
- Innovations in marketing and product offerings by wine producers.
