Global exports of bulk wine suffered a sharp downturn in the first quarter of 2026, weighed down by lighter harvests that have reduced the need for countries to import wine to meet domestic demand.
According to the latest edition of Vinexposium's "Bulk Wine Markets Evolution up to March" report, compiled with analysis from Rafael del Rey of Del Rey Analysts of Wine Markets (AWM), bulk wine exports fell 18.8% in value to €566 million and 18.9% in volume to 7.1 million hectoliters, while average prices held nearly steady at €80 per hectoliter, up just 0.1%.
Vinexposium is one of the world's leading organizers of trade events for wine and spirits professionals, and is behind the international "Wine Paris" fair.
A market losing momentum
Looking at the twelve months to March 2026, bulk wine exports were down 11.8% in value, to €2.3 billion, and 10.3% in volume, to 30 million hectoliters, with average prices easing slightly to €78 per hectoliter. The pace of decline is accelerating, and bulk wine's performance is now running well behind the broader wine market, which posted declines of 6.6% in volume and 8.8% in value over the same period.
Spain holds the lead, Italy in third
For bulk wine proper — wine shipped in containers larger than 10 liters — Spain remains by far the world's top exporter. Over the twelve months to March 2026, Spain shipped 10.2 million hectoliters despite a 5.2% drop in volumes. Higher prices, driven by a smaller Northern Hemisphere harvest, actually pushed Spain's revenue up 0.9%, to €538 million. In the first quarter alone, nearly every major producer cut bulk wine sales except South Africa, France, and Argentina.
Italy ranks third among suppliers by value, with €273 million (down 11.3%), behind Spain and New Zealand (€292 million, down 20.6%), and third by volume too, behind Spain and Australia, shipping 3.1 million hectoliters (down 13.3%). Italy's average price, however, rose 2.3% to €0.88 per liter. On the import side, Italy saw a steep collapse in the first quarter of 2026, with bulk wine imports falling 56.1% in value to €12 million and 52.9% in volume to 0.2 million hectoliters, at an average price of €0.52 per liter.
UK and Germany lead on the import side
The United Kingdom remained the world's top bulk wine importer in the first quarter of 2026, spending €126 million (down 9.7%), while Germany led in import volumes, bringing in 1.6 million hectoliters (down 7.6%).
A decade of structural decline for EU exports — with white wine bucking the trend
Since 2017, EU bulk wine exports have fallen 5.1% in value and 21.2% in volume, even as average prices climbed 20.3% over the period. But the trend has diverged sharply by wine color: bulk white wine exports dropped only 7.3% in volume, while red and rosé exports fell a much steeper 33.6%. The value gap was even wider — white wine revenues grew 20.9%, while red and rosé revenues fell 23.7%.
In the first quarter of 2026, however, the pattern flipped somewhat: white wines actually underperformed reds and rosés in value terms, down 14.3% versus 11.2%, even though whites held up better in volume.
Source: WineNews