With purchasing power expected to remain under pressure, amidst hikes in food and energy prices, on- and off-trade volume sales of wine are projected to decline in 2023. On-trade volume sales are predicted to rebound strongly over the rest of the forecast period, but off-trade volume sales are set to fall again 2024 and see only modest growth up to 2027.
Aside from limits on domestic consumption, spending on foodservice by inbound tourists is expected to be adversely affected by inflation and rising energy and general living costs in other European markets. With flights costs also rising, there is set to be a sharp slowdown in the growth in the number of arrivals and spending, compared with 2022.
Still rosé wine is set to easily outpace still white wine in off- and on-trade volume growth over the forecast period, albeit from a lower sales base. Still white wine is mature in Greece, while the penetration of still rosé wine is very low, leaving more room for growth.
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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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