Argentina Wine Market Size, Share, Trends and Industry Report 2024-2032

Argentina Wine Market Outlook

According to the report by Expert Market Research (EMR), the Argentina wine market size reached a value of USD 2.4 billion in 2023. Aided by the increasing demand for high-quality wines and the growing popularity of Argentine wine in international markets, the market is projected to further grow at a CAGR of 5.50% between 2024 and 2032 to reach a value of USD 3.89 billion by 2032.

Argentina, renowned for its diverse wine-producing regions and unique grape varieties, has established itself as a leading wine producer globally. The country's favourable climatic conditions and diverse terroirs contribute to the production of high-quality wines that are celebrated for their distinctive flavours and aromas. The growth of the Argentina wine market is driven by factors such as the rising demand for premium wines, the expanding wine tourism sector, and the increasing export opportunities for Argentine wines.

The rising demand for premium wines is a significant driver of the market. As consumers become more discerning and seek high-quality wine experiences, the demand for premium and super-premium wines has surged. Argentine wines, particularly Malbec, have gained a reputation for their exceptional quality and unique characteristics, attracting wine enthusiasts and connoisseurs worldwide. The growing disposable incomes and the increasing preference for premium alcoholic beverages are further boosting the demand for high-quality Argentine wines, consequently driving up the Argentina wine market share.

The expanding wine tourism sector is another key factor propelling the market growth. Argentina's wine regions, such as Mendoza, Salta, and Patagonia, attract a large number of tourists seeking to explore vineyards and wineries. The country's wine tourism offerings, including wine tastings, vineyard tours, and wine festivals, have contributed to the growing popularity of Argentine wines. The development of wine tourism infrastructure and the promotion of wine-related experiences are driving the Argentina wine market growth.

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The increasing export opportunities for Argentine wines are also contributing to market growth. Argentine wines have gained recognition in international markets for their quality and value. The country's wine producers have been successful in penetrating key export markets, including the United States, the United Kingdom, and China. The growing global demand for Argentine wines, driven by their distinctive characteristics and competitive pricing, is boosting the export volumes and revenue, thereby propelling the market growth.

As per the Argentina wine market analysis, red wine holds a significant share of the market, driven by the popularity of Argentine Malbec. Red wines from Argentina are known for their rich flavours and robust profiles, making them a favourite among wine enthusiasts. White wines, including Torrontés and Chardonnay, are also gaining popularity, driven by their refreshing characteristics and versatility. The demand for sparkling wines and rosé wines is growing, driven by the increasing consumer preference for these wine types in social and celebratory occasions.

Wines in Argentina are distributed through various channels, including supermarkets and hypermarkets, specialty stores, convenience stores, online retail, and direct sales. Supermarkets and hypermarkets account for the largest share of the market, owing to their widespread presence and the convenience they offer to consumers. Specialty stores, including wine shops and gourmet stores, are gaining popularity, driven by the demand for high-quality and unique wine options. The online retail segment is growing rapidly, driven by the increasing preference for online shopping and the convenience it offers. The direct sales segment, including sales through wineries and wine clubs, is also significant, driven by the demand for exclusive and personalised wine experiences, leading to Argentina wine market development.

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Argentina Wine Market Segmentation

The market can be divided based on the product type, colour, and distribution channel

Market Breakup by Product Type

Still Wine
Sparkling Wine
Fortified Wine and Vermouth
Others

Market Breakup by Colour

Red Wine
White Wine
Others

Market Breakup by Distribution Channel

On-Trade
Off-Trade

Competitive Landscape

The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in Argentina wine market. Some of the major players explored in the report by Expert Market Research are as follows:

Grupo Peñaflor
Bodegas Callia
Bodega Catena Zapata
Bodegas y Viñedos López S.A.I.C
Bodegas Salentein SA
Bodega Familia Schroeder
Bodega Familia Zuccardi
Bodegas y Viñedos Pascual Toso
Pulenta Estate
La Riojana
Others

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