2023 was full of problems that led to a contraction of the market and consequently also that of bulk wines. Apart from Germany (+5% in volumes but -1% in value), in France the imports fell by 4%, in the USA there was a sharp drop of 18%, in Italy by 14.5% in volume and in China by 18% in volume and 32% in value. Critical geopolitical situations, changing consumption habits and inflation meant that buyers met their imminent or short-term needs.

Anyway, there are glimmers of light for this 2024. Ciatti Company, in its latest monthly report explains “the global bulk wine market comes to mid-2024 with apparently healthier business levels than at the same time last year”. The reasons for this recovery are mainly due to a readjustment of the balance between general white supply and demand and the “unblocking” of Australian red imports by China through the removal of the penalizing taxation against Australia.

Moreover, the first trimester of this year has seen an increase of 6% in volume and 20.5% in value of the shipments of bulk wine towards the United States. These positive signals will certainly lead to an increase in buyers’ confidence by creating a virtuous spiral that can give space to product innovations and offer the opportunity to emerge to new brands.

Source: Winenews