Although it is still a small market worldwide, Latin America has become a fundamental market for Spanish wines, with value and image and, above all, with great growth potential.
This is stated in a recent report by the Spanish Wine Market Observatory (OeMV) published by the Spanish Interprofessional Wine Organization (OIVE), which analyzes the Latin American region as an importer of world wines, with data of special interest for Spain. , for whom many of the countries in this region are important and growing markets, but also and increasingly for the rest of the world’s wine producers.
Latin America is still a small market worldwide, worth 1,291 million euros, which represents 3.4% of imports in 2022, but it is a destination that has grown strongly in the last 20 years. The average annual growth rate is 9.2%, only surpassed by Asia, led by China in decline since 2018, a region, therefore, of great interest for Spanish wine, with countries such as Mexico, Colombia and the Republic Dominican, which are becoming very relevant markets due to their growing volume, good average prices and the positioning of Spanish wines. Furthermore, Latin America is also a region that is increasingly attracting the attention of other producers.
Latin America. The main markets
The markets for world wine are, above all, Brazil and Mexico, which account for 60% of the region’s imports, and which together with Colombia account for more than two-thirds of all the wine exported to it. Dominican Republic, Peru and Panama follow them in order of importance. Due to their high average prices, the most attractive markets as importers, in addition to those that also export, are Panama, the Dominican Republic, Peru, Costa Rica and Mexico. While, by growth rate, Colombia and Brazil are the ones that have developed the most rapidly in recent times.
Wine sales from the world’s largest producers are directed toward all of them, led by Chile, but followed by Spain, which, with 204.7 million euros sold in 2022, narrowly surpasses Argentina. France and Italy, with value shares of 13% and 11% respectively, and Portugal, with particularly important sales to Brazil, are, together with the United States—very active in Panama and the Dominican Republic—the other main suppliers of wine to America. Latina.
The report also analyzes the seven countries of greatest interest for wine sales: Brazil —where Portugal’s position as a supplier stands out—, Mexico —of enormous interest for Spain—, Colombia, the Dominican Republic, Peru, Panama and Paraguay. Finally, to define the markets of greatest potential interest for Spanish exporting wineries, the analysis incorporates a triple classification of the 21 main countries in the region according to their size, the average price of the wines exported to each of them and their pace of production. growth in recent years.
2023-09-16 09:33:16
#Latin #America #market #great #growth #potential #Spanish #wines #Diario #Gastronomía #Cuisine #wine #gastronomy #gourmet #recipes
