US wine export market grows by largest amount since 2013
US wine exports increased by 10.6% in value last year, the largest annual gain since 2013 according to the Wine Institute.
The 10.6% growth in value represents some US$1.44 billion in total revenue, the Wine Institute said, while California dominated US wine exports – representing 95% of all exported wine.
Honore Comfort, vice president of international marketing, Wine Institute commented on the news:
“While we continue to see some challenges in the international marketplace for U.S. wine exports, we’re encouraged that export data shows a trend toward countering the impact of the global pandemic, retaliatory tariffs, unfavorable exchange rates and other external circumstances.”
“We’re moving the needle for larger gains in the future with a goal to boost the Golden State’s wine exports by $2.5 billion over the next decade.”
Canada remains the largest export market for US wines, with a 35.6% market share. The export market to Canada grew by 11.5% in 2021.
The second largest export market, the United Kingdom, actually dropped 20.1% in value, though eight of the 10 largest export markets for US wine saw value gains last year.
According to the Wine Institute, declines in the United Kingdom and European Union (27 member countries) were largely driven by shipping challenges and global supply chain issues.
“We are very pleased to see our exports return to growth after several challenging years and we are grateful for the Biden administration’s diligent work to address a number of trade irritants,” said Bobby Koch, Wine Institute President and CEO. “We urge the administration to continue working to expand market access for our wines through free trade agreements in key markets such as the United Kingdom.”
The US wine export market grew by 16.2% in 2013, figures show. Last year’s increase is the most significant since that time.
H/T: Wine Institute