Chile Wine Market Report and Forecast 2024-2032

Chile Wine Market Outlook

The Chile wine market size reached approximately USD 3.8 billion in 2023. The market is projected to grow at a CAGR of 4.40% between 2024 and 2032, reaching a value of around USD 5.6 billion by 2032.

Key Takeaways

• In the year 2022, Chile's wine imports amounted to $19.8M, positioning the country as the 83rd largest importer of wine globally.

• Chile's primary wine imports come from Italy, the UAE, Argentina, France, and Spain.

• Chile's southern parts exhibit promising prospects for the production of sparkling wine, with an escalating number of vineyard owners cultivating grapevines in areas such as Osorno, aiming to create exquisite effervescent beverages.

The Chile wine market growth is driven by factors including sustainable and eco-friendly production methods, increasing trend of premiumisation, and the introduction of a variety of grape types. Moreover, the increasing popularity of wine consumption at social events is also contributing to the growth of the market. Wine is viewed as an elegant drink and a symbol of status in the area, drawing in more customers with the rise in disposable incomes.

In 2021, the per capita wine consumption in Chile amounted to 10.6 litres, marking an increase of 8.58% compared to the previous year.  Moreover, the surge in popularity of the wellness and 'clean' wine movement is driving the sales of organic wine from Chile, consequently driving up the Chile wine market share. Sainsbury's has witnessed a remarkable 50% increase in sales of Cono Sur's organic wine collection, with a significant portion of eco-conscious consumers aged 25-44 showing great interest in these wines. To meet the growing global demand, Cono Sur has expanded its organic vineyard holdings. Since its launch in the UK in 2020, this range, which comprises Chardonnay, Malbec, Pinot, Sauvignon Blanc, and a red blend, has also achieved success in Canada and Scandinavia.

As per the Chile wine market analysis, currently, there is a strong focus on sustainability among wine producers. It is widely recognised that sustainability is the way forward for Chile, and wineries are actively promoting their environmentally friendly practices. In line with this, the Chilean government has committed to achieve carbon neutrality by 2050. At present, 76 wineries, which represent 80% of bottled wine exports, have obtained certification for their sustainable practices. To address the global issue of waste generation, Chile's VSPT Wine Group has set a target to ensure that 100% of its bottles and packaging are separable, reusable, recyclable, or compostable by 2030. Furthermore, the company aims to have 60% of its packaging made from recycled materials, eliminating the use of PVC.

Market Segmentation

Chile Wine Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments:

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

There is a greater emphasis on the production of unique and premium wines, such as sparkling and organic varieties by stakeholders, and industry leaders are implementing sustainable manufacturing practices to appeal to environmentally-conscious consumers.

• The Wine Group LLC

• Viña Concha y Toro S.A.

• S.V. Miguel Torres S.A.

• Montes SA

• Claro Group (Sociedad Anónima Viña Santa Rita)

• Garcés Silva Family Vineyards

• Kingston Family Vineyards

• Premium Wines S.A.

• Odfjell Vineyards SA

• Viña MontGras

• Others

Key Highlights of the Report