Europe slips as Southern Hemisphere rises

Wine imports into the United States saw a sharp decline in May 2025, according to a new market report released Tuesday by DelReyAWM. The data show that imports fell by 13.2% in value and 5.4% in volume compared to May of the previous year. The average price per liter also dropped by 8.3%. This downturn follows a period of growth at the end of 2024 and early 2025, when importers increased purchases to replenish stocks and in anticipation of new tariffs.

The U.S. wine market has experienced significant volatility over the past year. In December 2024, wine imports surged by nearly 30%, likely as a precaution against the possibility of higher tariffs, which were raised by 10% in February 2025. From January to April, growth slowed considerably, reflecting uncertainty in the market. The sharp drop in May is seen as a possible result of both the earlier stockpiling and the impact of the new tariffs.

Despite the recent decline, total wine imports for the first five months of 2025 are still up compared to last year. From January through May, imports grew by 8.1% in value and 1.6% in volume, with average prices rising by 6.4%. This growth comes after a difficult year in 2023, when excess inventory following the pandemic led to a steep drop in purchases during the second half of that year.

The breakdown by wine category reveals different trends. In May, sparkling wines saw a strong increase in value due to a jump of nearly 33% in average prices, even though the number of bottles imported actually fell by almost 9%. Imports of non-sparkling bottled wines dropped sharply, down 24.3% in value and 10.6% in volume. Bulk wine imports rebounded significantly during the month.

Looking at the six-month period from December 2024 through May 2025, overall wine imports rose by 11.3% in value and 10.2% in volume compared to the same period a year earlier. Sparkling wines led this growth with increases close to 30%, while non-sparkling bottled wines also posted gains, though more modestly at just over 8% in value and about 7% in volume. Bulk wine imports declined during this period, especially from Canada, which remains a major supplier alongside Australia, Chile, and New Zealand.

The performance of key supplier countries varied widely between May and the broader six-month period. In May alone, Italy and France saw their export volumes to the U.S. fall by about 19% and 16%, respectively, while Spain’s exports dropped by more than a third compared to May last year. Canadian exports also plummeted, mainly due to lower bulk shipments. Meanwhile, Australia (+148%), New Zealand (+46%), Chile (+47%), and Argentina (+11%) all recorded strong increases for the month, but these gains did not fully offset declines from European suppliers.

Over the six months from December through May, France achieved nearly 27% growth in U.S. sales, driven largely by sparkling wines and higher average prices for its products overall. Italy also grew but at a slower pace, mainly thanks to sparkling wine exports despite slightly lower prices on average. Spain managed to maintain its revenue despite selling almost 10% more wine by volume at prices about 9% lower than last year.

Producers from Australia, New Zealand, Chile, and Argentina all increased their export volumes over this six-month period but often had to accept lower prices to do so; for New Zealand this even resulted in lower total revenue despite higher shipments.

The U.S. wine import market has been shaped recently by several disruptive factors: post-pandemic inventory corrections, changes in tariff policy under the current administration, and ongoing uncertainty about future demand trends. After a period of relative stability and recovery starting early last year, May’s figures suggest a possible shift that industry observers will be watching closely as new data become available over the coming months.

For now, while some categories and countries have suffered setbacks—especially among traditional European suppliers—the overall picture for U.S. wine imports remains positive for the first half of this year compared to last year’s lows. The coming months will reveal whether May’s decline marks a temporary adjustment or signals a longer-term change in direction for America’s wine trade.