2024-12-31
According to data from British customs, the United Kingdom increased its wine imports by 1.3% in volume during the first half of 2024, reaching 589.4 million liters. However, the value of these imports fell by 5.7% to £1.7915 billion, as the average price decreased by 7% to £3.04 per liter. Despite the increase in volume, this represents a historically low first half, comparable to the same periods in 2021, 2022, and 2013. In terms of value, while it was lower than the first halves of 2022 and 2023, it exceeded earlier years.
The trend in British wine imports has improved in volume but declined in value compared to the end of 2023, which had seen a 5% decrease in volume and a 0.4% dip in value. Bag-in-box wine was the only category to see a decline in volume (-5%) during this period. In terms of value, bulk wine and bag-in-box increased, while spending on bottled wine (-9%) and sparkling wine (-5.6%)—categories with higher added value—declined. Bottled wine continues to dominate British imports, with 285.6 million liters (+0.4%) and £1.1041 billion (-9%), representing 48% of the total volume and 62% of the total value, though it lost some market share. Sparkling wine is the second most valuable category, with £413.3 million (-5.6%), followed by bulk wine at £253.9 million (+9.8%). In terms of volume, bulk wine is the second most imported category, with 2.3 million hectoliters (+3%), far ahead of sparkling wine at 66.4 million liters (+1%).
Average prices dropped for sparkling wines (-6.5%, to £6.22 per liter) and bottled wines (-9.3%, to £3.87 per liter), while bulk wine saw a 6.6% increase, reaching £1.12 per liter. Bag-in-box wine recorded a 5% decline in volume but a 7.4% increase in value due to a 13% rise in its average price, closing the semester with £20.1 million and 10.6 million liters at an average price of £1.90 per liter.
The United Kingdom imported wine from 58 suppliers in the first half of 2024, with the top ten accounting for 98% of the total. Among these, only Australia recorded a price increase (+2.2%), while others, such as France, New Zealand, and Portugal, saw double-digit price declines. Italy (+4%), Chile (+18%), and New Zealand (+9.5%) were the main contributors to the overall volume growth. Italy remained the top supplier in volume, with 135.3 million liters (+5.5 million). Chile strengthened its fifth position with 57 million liters (+8.9 million), and New Zealand maintained its seventh place with 37.6 million liters (+3.2 million). Australia was the second-largest supplier by volume at 87.1 million liters, despite a 9.5% decline (-9.1 million). France ranked third with 80.1 million liters, showing a slight decrease of 0.4%. Spain held its fourth position despite a 3% drop to 66.9 million liters (-2 million). South Africa remained sixth with 43.5 million liters (+2.4%), followed by New Zealand, and the United States (+5.7%). Argentina and Portugal saw declines of 2% and 5.5%, respectively, with Portugal supplying 10.9 million liters.
In terms of value, France lost market share as the top supplier, dropping 11.4% to £646.1 million (-£83.4 million), the largest overall decline. Italy followed with £417.7 million (+2%). French wine commanded a significantly higher average price of £8.07 per liter (-11%), contributing to its dominant value share. Italy's average price was £3.09 per liter (-2.2%). Spain (-6.7%), New Zealand (-7.2%), and Australia (-7.5%) also ended the period with lower values, at £160.4 million, £125.9 million, and £102 million, respectively. Chile showed notable growth (+12.1%), reaching £88.9 million (+£9.7 million) and securing the sixth position. The United States (-3%), South Africa (+1.1%), Argentina (-6.5%), and Portugal (-16%) rounded out the top suppliers by value. Spanish wine decreased in price by 4% to £2.40 per liter, below the overall average inflated by French wines but higher than prices for bulk-oriented suppliers such as Australia, South Africa, Chile, the United States, and Argentina. European suppliers generally focus more on higher-priced wine categories.
Founded in 2007, Vinetur® is a registered trademark of VGSC S.L. with a long history in the wine industry.
VGSC, S.L. with VAT number B70255591 is a spanish company legally registered in the Commercial Register of the city of Santiago de Compostela, with registration number: Bulletin 181, Reference 356049 in Volume 13, Page 107, Section 6, Sheet 45028, Entry 2.
Email: [email protected]
Headquarters and offices located in Vilagarcia de Arousa, Spain.