Resurgence in U.S. Wine Exports: $647 Million in First Half of 2024

In the first half of 2024, U.S. wine exports grew by 8.3% in volume and 6.7% in value, reaching 114.7 million liters and $647 million, according to U.S. customs data. However, the average price decreased by 1.5%, settling at $5.64 per liter. This growth comes in comparison to the weakest first half in volume since 1997 and the lowest revenue since 2010.

Monthly performance varied significantly, with sharp increases in February through June following a challenging start to the year marked by significant declines. Among the categories, bottled wine remained the primary export, accounting for 51.4% of total volume at 58.9 million liters and 82% of total value at $531.7 million. Despite a slight 0.5% drop in volume, bottled wine's value increased by 6.3%.

Bulk wine showed remarkable performance, with a 31% increase in volume, totaling 50.5 million liters, and a 43.5% rise in value, reaching $79.1 million. In contrast, sparkling wine exports declined sharply, dropping 41.5% in volume and 19% in value, to 1.8 million liters and $22.7 million, respectively. Bag-in-box exports also experienced a steep drop of approximately 41% in both volume and value, reaching 3.4 million liters and $13.6 million.

In terms of average prices, bag-in-box wine was the only category to see a price decline, down 13% to $3.99 per liter. Sparkling wine achieved the highest average price at $12.32 per liter, a 38% increase, followed by bottled wine at $9.03 per liter, up 7%, and bulk wine, which rose 9% to $1.56 per liter.

The United States exported wine to 115 international markets. The United Kingdom became the leading destination by volume, with a 16% increase to 35.1 million liters, though at a low average price of $2.43 per liter, up 1%. Meanwhile, Canada led in value with $198.4 million, despite a 2.9% decline, as volume fell 4.3% to 24.4 million liters. The average price for exports to Canada was $8.14 per liter, up 1.4%, highlighting a stark contrast between these two markets: 87% of wine exported to Canada was bottled, while 81% of shipments to the U.K. were in bulk.

China emerged as the third-largest market, with an impressive 211% increase in value and 94% growth in volume, reaching $73.9 million and 6 million liters. Japan, South Korea, and Hong Kong experienced declines in both value and volume, with Hong Kong seeing a significant 40% drop in volume.

Panama showed extraordinary growth, ranking tenth in value at $11.5 million, a 468% increase, and nineteenth in volume with 0.9 million liters, up 224.5%. European markets such as Germany, Denmark, the Netherlands, and France also saw notable gains.

These figures highlight a partial recovery in U.S. wine trade, driven by growth in specific markets and categories. However, challenges persist in segments such as sparkling wine and bag-in-box, which continued to show significant declines.