The Chilean wine market has experienced variable growth and declines in volume over the past decade. From 2014 to 2022, the market saw fluctuations with significant drops in 2016 and 2020, declining growth in 2015, 2019, and 2022, but a noticeable rebound in 2018 and 2021. By 2023, the market volume stood at 264.0 thousand metric tons. The last two years showed minor declines of 0.38%. The five-year CAGR from 2020-2023 was -1.66%, while from 2016-2021, there was fluctuating growth.
Looking ahead, the forecasted data suggests a slight yet steady decline, with the volume expected to be 260.97 thousand metric tons by 2028. The forecasted CAGR for the next five years is -0.19%.
Future trends to watch for include potential impacts of climate change on grape yield and quality, changes in international demand, as well as evolving consumer preferences towards organic or sustainably produced wines.
