Red Wine Price Trend and Forecast

Regional Price Overview

Get the latest insights on price movement and trend analysis of Red Wine in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East & Africa).

Red Wine Price Trend for the Second Half of 2023

The Red Wine industry struggled immensely this year because climate change and unseasonal weather changes impacted the production yields of grapes, and the levels could not be sustained. According to the International Organisation for Vine and Wine (OIV), global wine production estimatedly fell lowest since 1961.

Red Wine Price Chart

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According to some reports, wine consumption is also on a decline as people’s interest is rising in health and life expectancy. However, around December, the sales numbers rose again, primarily because of the Christmas and New Year holidays. In a single state of Telangana, wine sales surged by around 35% within December. Albeit an underwhelming performance was witnessed throughout the given span.

Analyst insight

According to Procurement Resource, not much improvement is anticipated in the coming times; the wineries are registering losses, and the trend is likely to continue for some time.

Red Wine Price Trend for the First Half of 2023

Red Wine exhibited a consistently poor market performance during the first half of the year 2023. With the technological advancements in Oenology, the process of vinification has become easier and shorter. This led to an increased yield by the existing suppliers. With the lucrative revenue incentives associated with the conventional wine industry, more companies and suppliers jumped into the Red Wine market.

Consequently, a supply glut was observed in the Red Wine industry; to the contrary, global wine consumption regressed in the post-pandemic world. This rising disparity in the supply and demand dynamics of Red Wine forces suppliers to discount the prices in order to vacate the inventories. By the end of the second quarter, the European Union had given 172 million USD to get rid of about 80 million gallons of waste wine.

Analyst Insight

According to Procurement Resource, the Red Wine market is anticipated to depreciate further with rapidly falling production costs and rising inventory levels.

Procurement Resource provides latest prices of Red Wine. Each price database is tied to a user-friendly graphing tool dating back to 2014, which provides a range of functionalities: configuration of price series over user defined time period; comparison of product movements across countries; customisation of price currencies and unit; extraction of price data as excel files to be used offline.