The consumption of wine has increased considerably in Ecuador due to it being an accessible and fashionable beverage for aspirational consumers. However, consumers still do not have advanced knowledge about wine and its characteristics, so the purchasing decision is mostly based only on the price.
The wine category remained fragmented in 2021. A large number of brands are available in stores, especially in supermarkets where they take up the most space in the alcoholic beverages section.
Wine is led by brands from South America, including Chile and Argentina, which represent the majority of imports. Trapiche from Argentina and Concha y Toro from Chile are leaders in Ecuador, enjoying wide distribution throughout the country.
The economic impact of the COVID-19 pandemic, coupled with the relative low knowledge that consumers in Ecuador have about wine, will ensure that future growth will continue to be driven by cheaper brands. In addition, the new tax reform will increase the prices of all products, so consumers will continue to look for more affordable wines over the forecast period to 2026.
Thanks to the success of the vaccination plan in Ecuador during 2021, the country will start 2022 with herd immunity. This will allow the resumption of social gatherings and events, therefore products such as champagne and sparkling wine, which are directly related to celebrations, are expected to recover, recording a double-digit increase in sales over the course of the forecast period.
Despite the free trade agreement that has allowed European wines to have a tariff advantage when entering the country, it is expected that the market will continue to be dominated by Chilean and Argentine brands over the forecast period as they continue to offer cheaper products and benefit from considerable shelf space in stores in Ecuador. However, European sparkling wine will also perform better going forward thanks to the portfolio of relatively inexpensive products of Spanish or Italian origin.
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This is the aggregation of still and sparkling light grape wines, fortified wine and vermouth and non-grape wine. In terms of alcohol content, light wine usually falls into the 8-14% ABV bracket while fortified wine ranges from 14-23% ABV. Low and non-alcoholic wine is also included in the data (attributed to each sector as appropriate).See All of Our Definitions
This report originates from Passport, our Wine research and analysis database.
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