Wine industry in Argentina - Statistics & Facts
Wine is such a significant beverage in Argentina that in 2010 it was declared the national beverage and November 24 was selected as Day of the Argentinian wine. Revenue of the wine industry in this South American country amounted to 2.65 billion U.S. dollars in 2023, and it is expected to increase by almost 56 percent in the next six years.
Despite these challenges, wine is still a staple in Argentinian households and consumers are adapting to the new market conditions, for example, by continuing to prioritize quality and spacing out the times that they drink and purchase wine.
A red wine producer
Argentina produces a wide variety of wines, including red, white, and rosé, and most of them are produced in the provinces of Mendoza and San Juan. However, red wine accounts for more than sixty percent of the total wine production. The most popular variety of red grape used is Malbec. In fact, more than 323,000 metric tons of Malbec grapes were produced in the country in 2023, over 140 percent more than the second most popular variety, Bonarda.Wine from Argentina to the World
Argentinian wine is also popular around the world, and the South American country is a leading global exporter. In recent years, the monthly exports of wine have averaged around 67 million U.S. dollars, although exports in general decreased between 2022 and 2023. In 2023, the value of wine exported from Argentina decreased by about 20 percent compared to the previous year. The United States, the United Kingdom, Brazil, and Canada are among the leading countries of destination for Argentinian wine.As prices go up, wine consumption goes down
Being the national beverage of Argentina, wine is a very popular drink among consumers in the country. In fact, Argentina is the eight-largest consumer of wine worldwide, with a total of almost eight million hectoliters consumed or over 16 liters per person. Despite the beverage’s popularity and significance, there is a downward trend in wine consumption in the country. Between 2003 and 2023, the per capita consumption volume dropped by 50 percent. One of the main reasons being the ever-rising cost of not only wine, but alcoholic beverages in general. In fact, the consumer price index of alcoholic beverages and tobacco increased by over four thousand percent between August 2017 and August 2024.Despite these challenges, wine is still a staple in Argentinian households and consumers are adapting to the new market conditions, for example, by continuing to prioritize quality and spacing out the times that they drink and purchase wine.
