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Apr 12 2022
Spanish Wine Set a New Record in US Market
Figures for 2021 also show that the average price of Spanish wine also increased slightly and is higher than other countries’ such as Argentina and Chile
Spanish wine is on everyone’s lips these days, particularly in the US. American consumers spent a record amount on wine from Spain in 2021: more than $400 million. Additionally, in 2021, the value of exports of Spanish wine increased y 30.6% and the average price increased by 4.5%, to $5.11/liter, its highest level since 2014. This is higher than that of other countries such as South Africa, Germany, Argentina, Chile, Australia, and Portugal. The US acquired 80 million liters of Spanish wine, the second-highest record, after 2012 numbers (81.7 million liters).
Broadly speaking, wine imports in the US skyrocketed in 2021, increasing in terms of volume and doubling in terms of value, by 13.1% and 25.8% American consumers are clearly celebrating the “end” of the pandemic by opening a bottle, or several, of wine. In fact, the US has reinforced its position as the leading global market in terms of value, surpassing the UK. In 2021, US consumers spent $1.450 billion more on wine compared with the previous year.
Over the last two decades, wine imports in the US have expanded at a CAGR of 5.5% in terms of volume and 5.7 in terms of value. There was a notable decline during the pandemic, but the recovery as from 2021 is especially noteworthy.
