In 2023, Denmark's wine imports saw a notable decline, continuing a trend that began the previous year.
Analysis by the Spanish Wine Market Observatory (OeMv) based on Danish customs data, citing Vinetur, reveals a 9.7% drop in the value of wine imports and a 3.4% decrease in volume.
This decline has led to a reduction in the average price of imported wine, which fell by 6.5%, marking the end of a decade-long trend of continuous price increases.
Import Figures and Market Dynamics
In absolute terms, Denmark imported 176.5 million liters of wine valued at 5,326 million Danish crowns (DKK), equivalent to approximately EUR 714 million. The average price of imported wine stood at EUR 4.04 per liter, or DKK 30.17 per liter. The downturn in imports was particularly pronounced in the second half of 2023, with consistent declines in both value and volume across all six months.
Despite these figures, Denmark remains a stable market in terms of import volume. While there has been a slight decrease from 180 million liters in 2000 to 177 million liters in 2023, the value of imports has grown at an average annual rate of 2.6% since 2000. This growth has been driven by an increase in the average price of imported wine, which has nearly doubled from DKK 16.30 to DKK 30.17 per liter. The rise in prices is attributed to the increasing cost of various wine categories and a growing interest in higher-value sparkling wines.
Trends in Wine Categories
In 2023, all wine categories recorded declines in value compared to the previous year. However, sparkling wine showed resilience, with a slight increase in volume, achieving its best performance to date. The bag-in-box format was the only one that did not experience a price reduction. Packaged wine continued to dominate the market, accounting for 50% of the total volume, although it recorded its lowest historical figure in this regard. Since the start of the century, sparkling wine has seen the most significant growth in relative terms within the Danish market.
Key Suppliers and Market Shifts
Denmark imported wine from 68 different countries in 2023. Among the top ten suppliers, only Argentina showed growth in value, increasing by 39.4%, despite a 35.6% drop in volume due to a 116% increase in average price. Spain also managed a slight increase in average price by 0.6%. Italy and France, the largest suppliers by volume with 40.3 million and 29.6 million liters respectively, resisted the global decline in volume but saw negative figures in value.
Italy has demonstrated the best long-term performance in the Danish market since 2000. Australia solidified its position as the fourth-largest supplier in volume with 22.4 million liters, followed by Chile and the United States, each with 12.8 million liters. In terms of value, the United States remained the fourth-largest supplier despite a 22% drop, reaching 370 million crowns. Germany and Australia also faced significant declines in value, while Portugal showed a slight drop of 2.6%, and South Africa remained relatively stable. Argentina rounded out the top suppliers with a notable 39.4% increase in value.
Conclusion
The decline in Denmark's wine imports in 2023 reflects broader market challenges and shifting dynamics within the global wine industry. Despite the reduction in both value and volume, the Danish market remains stable with a slight decrease in import volume over the long term. The increasing preference for higher-value wines, particularly sparkling wines, suggests a shift towards premium products among Danish consumers.
Source: Vinetur