In 2023, the import of grape wines and grape must to the UK stood at approximately 4.135 billion US dollars. Over the forecast period from 2024 to 2028, a steady decrease is expected, from 4.1069 billion in 2024 to 3.9874 billion USD by 2028. The annual year-on-year variation shows a gradual decline: approximately -0.75% in 2024, consistent decreases in subsequent years to reach around -0.73% in 2028. The compound annual growth rate (CAGR) over these five years is forecasted to be -0.70%, indicating a modest overall reduction in import value.
Future trends to watch for include potential shifts in consumer preferences towards locally produced wines or other alcoholic beverages, potential impacts of regulatory changes post-Brexit, and fluctuations in the foreign exchange market which could affect import costs. Additionally, any economic factors impacting disposable income could further influence these imports.
