The import of sparkling grape wines to Australia reached 265.48 million US dollars in 2023. Year-on-year growth over the last two years was positive, with a significant increase of 24.5% in 2021 and a modest 3% growth in 2023. The five-year Compound Annual Growth Rate (CAGR) up to 2023 was 3.06%, indicating steady growth. Notable fluctuations occurred from 2013 to 2020, with substantial growth in certain years, particularly in 2021, following a decline in 2020.
Future trends suggest a continued moderate growth trajectory, with forecasted imports reaching 305.9 million US dollars by 2028. The projected five-year CAGR from 2024 to 2028 is 2.23%, showing stability in the market.
Trends to Watch:
- The impact of global economic conditions on import levels.
- Consumer preferences and shifts towards premium or alternative sparkling wines.
- Trade policies and agreements affecting import tariffs and regulations.
