In the tumultuous landscape of U.S. wine imports, 2023 marked a significant departure, witnessing a substantial reduction in volume (-14.6%) compared to a more modest decline in value (-8.6%). This resulted in a noteworthy 7% escalation in the average price per liter. Notably, this year recorded the lowest volume of wine imports in the past five years, with 1,226.5 million liters entering the United States, amounting to just under $6.690 billion—a departure from the comfortable $7 billion threshold seen in preceding years. At a record-breaking $5.45 per liter, the average price reached a 15-year pinnacle, signaling the first volume decline in U.S. wine acquisitions since 2018. Despite previous setbacks in 2020 due to the COVID-19 pandemic and the imposition of “Trump Tariffs” on bottled wine imports from select European nations—later repealed by the Biden-Harris Administration—this downturn is of notable significance. The import volume closely mirrors figures recorded in 2019 and 2020.
Despite this decline, the United States maintains its status as the leading wine market globally in terms of value. However, in 2023, it conceded its volume-based second-place ranking to the United Kingdom, with Germany leading the volume charts. While the U.S. had been instrumental in driving the post-pandemic recovery of international wine trade, culminating in record levels in 2022, 2023 witnessed substantial losses—a trend also observed in Canada and Mexico, markets that had similarly experienced robust growth.
Delving deeper into the intricacies of U.S. wine imports in 2023 reveals a pronounced decline in the latter half of the year. Nonetheless, since the turn of the century, wine imports into the U.S. have showcased robust growth, with an average annual increase of 4.5% in volume and 4.9% in value. This trajectory has seen imports soar from 448 million liters and $2.227 billion in 2000 to 1,227 million liters and $6.690 billion in 2023 over a span of 23 years.
The reduction in imported volume affected all wine categories in 2023, with a notable surge in spending on bag-in-box wines. Bulk wine was the sole category to witness a price decrease. Bottled wines continued to dominate the import market, accounting for just under 650 million liters (-11.4%) and approximately $4.670 billion (-5%) in purchases. Despite experiencing a less drastic decline compared to 2022, bottled wines have shown the least growth since 2000. Their average price surged by 7.2% in 2023, reaching $7.19 per liter—the first time it has exceeded $7.
Bulk and sparkling wines ceded market share, experiencing an 18% decline in volume to 400 million liters for bulk and 169 million liters for sparkling. Despite lagging in volume, sparkling wine secured the second position in value, with just under $1.690 billion (-13.5%), significantly surpassing the $304 million for bulk wine (-27.6%). The average price for sparkling wine surged by 5.3% to $9.99 per liter—the highest since 2015—compared to 76 cents per liter for bulk wine (-11.8%). While bag-in-box wines observed a 13.5% drop in volume to 7.9 million liters, they witnessed a 5.7% increase in value to $26.7 million, with the average price soaring by 22.3% to $3.40 per liter. Despite the decline in market share in 2023, bulk wine, including bag-in-box for historical comparison, has recorded the most substantial growth in the U.S. since the start of the century, boasting an annual average growth rate of 14.8% in volume and 12% in value—far outpacing packaged and sparkling wines.
In analyzing the nuances of the U.S. wine import landscape in 2023, it is evident that the country sourced its wines from 71 global suppliers. Among the top 10, only Canada and New Zealand witnessed growth in exports to the U.S., while Australia and, to a lesser extent, Portugal, experienced price reductions. Italy maintained its status as the leading supplier in volume, despite a 13% decrease to 333.8 million liters—the lowest figure since 2016. Following Italy, Canada bolstered its exports by 6.5% to 225 million liters, consolidating its position as a provider of economically priced bulk wine. However, despite representing over 18% of the volume acquired by the U.S., Canada ranked tenth in terms of value, accounting for just 1.1% of total expenditure, owing to its negligible average price of 31 cents per liter.
France, the third-largest supplier, witnessed a 16% decline to 166.4 million liters. Australia and New Zealand remained relatively stable, with 141 and 102 million liters, respectively, both countries outpacing Chile, which dropped to the sixth supplier position following a 45% decrease to 77.4 million liters—the lowest since 2008. Spain maintained its position as the seventh-largest supplier, with a 15.3% drop to 62.9 million liters—the lowest since 2010. Argentina (-43%), Portugal (-8.9%), and Germany (-7.3%) rounded out the top 10, with Argentina’s significant decline affirming a challenging 2023 for American wine purchases.
However, the ranking changes when considering the value of imports. France led in value, despite a 6.5% decrease to $2.5 billion—the lowest since the critical year of 2020, impacted by the pandemic and “Trump Tariffs.” Italy followed, securing a clear second-place finish at $2.117 billion—also the lowest since 2020. Together, France and Italy accounted for 69% of the total U.S. wine expenditure in 2023. New Zealand, far behind the leaders, grew by 2.2% to nearly $600 million, marking its best year to date in both value and volume. Spain solidified its fourth position with $364.4 million, nearly $100 million ahead of Australia, which ranked fifth with $269 million—a 12.5% decline. Argentina and Chile experienced the most significant drops in value among the top 10, nearly 30%, even as their prices increased the most.
Regarding average prices, France, renowned for its high-value-added wines, commanded the highest average price at $15.03 per liter—an 11.5% increase and the highest in the historical series. The resurgence in French wine prices has been notable, particularly considering the drop to $10.77 per liter in 2020. Italy’s average price was the second highest at $6.34 per liter, followed by New Zealand ($5.86) and Spain ($5.79), with Spanish wine prices surpassing the average by 9.1%. Conversely, Canada ($0.31), Australia ($1.91), and Chile ($2.15) offered the lowest average prices, with Argentina, Portugal, and Germany hovering around $5 per liter.
