Chile: Wine industry after a complex 2023, experts predict a difficult outlook for this year

Published 2024년 3월 1일

Tridge summary

The global wine industry, including Chile, saw a significant decrease in exports in 2023, with a 21% drop in value and volume for the Chilean wine industry compared to 2022. This decline is largely due to younger consumers preferring lower alcohol or non-alcoholic products, and is most evident in wines with designation of origin. Other contributing factors include post-pandemic economic conditions, inflation, and lower overall wine consumption. China and Brazil were particularly affected by the decrease in Chilean exports. The industry is encouraged to adapt by better understanding consumer preferences and offering products such as non-alcoholic wines.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

In 2023 the wine sector suffered a significant decrease in exports, not only in Chile but around the world as well. A similar situation is expected by 2024 due, among other things, to lower consumption According to Vinos de Chile, the Chilean wine industry closed last year with a 21% drop in value and volume compared to 2022. According to the Quarterly Wine Bulletin, published by the INE, in the third quarter of 2023, the Exports achieved a return of US$75,000,000, which corresponds to a reduction of 31.9% in twelve months. According to Andrés Dougnac, co-founder and general manager of Ewine, this year the sector will have to face a quite complex scenario. “The truth is that 2024 looks difficult too. The global wine market is complicated. Its consumption has decreased globally, especially due to new trends, especially among younger people, to opt for products with lower alcohol content or without alcohol. That has hit hard, not only the wine industry, but also the higher alcohol ...

Source: CLportalagro