The wine demand in Mexico, measured in thousand metric tons, has shown a fluctuating trend over the past decade. In 2023, the consumption stood at 122.0 thousand metric tons, reflecting a slight year-on-year increase of 1.67%. From 2014 to 2023, the annual growth rate averaged 1.19%, with notable fluctuations. The market faced a sharp decline in 2020 due to the pandemic's impact, but it recovered significantly in 2021 with a 22.56% increase. Looking ahead, demand is projected to continue its upward trend, albeit at a steady pace, growing to 131.31 thousand metric tons by 2028. The forecasted 5-year CAGR is 1.17%, with an expected growth rate of 5.99% over this period.
Future trends to watch for:
- Potential impact of economic fluctuations on wine consumption.
- Changes in consumer preferences and increasing interest in premium and imported wines.
- Ongoing influence of health trends promoting moderate alcohol consumption.
