The wine market volume in Australia stood at 465.0 thousand metric tons in 2023, showing a slight year-on-year increase of 0.43%, and an average annual growth rate (CAGR) of 0.75% over the past five years. Over the last decade, the market has experienced significant fluctuations, with notable drops in 2015 and 2016, followed by a substantial rise in 2017. Although the market faced a sharp decline in 2020, it rebounded strongly in 2021. Current forecasts indicate a stable growth rate of 0.27% CAGR over the next five years, achieving a total growth of 1.37% by 2028.
Future trends to watch for include:
• Increasing consumer demand for premium and organic wine varieties.
• Potential impacts of climate change on grape production.
• Technological advancements in wine production and distribution.
• Shifts in export markets due to international trade policies.
