A Bump in the Road for Austria?

The export engine of Austrian wine seems to have faltered in 2024, with growth slowing in several key markets. Yet, not all is bleak—there are still regions offering promising opportunities for Austrian producers. Which markets hold the most potential for the future?

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In the domestic market, Austrian wine clearly dominates, despite some declines. (Photo: © ÖWM / 1000things, Katharina Tesch)
In the domestic market, Austrian wine clearly dominates, despite some declines. (Photo: © ÖWM / 1000things, Katharina Tesch)

Austrian wine exports have long known only one direction—up. But 2024 appears to mark a (temporary?) turning point. In the first three quarters of the year, the export value fell by 5.1% compared to the previous year. However, the volume remained stable (-0.1%), according to the recently published 2024 annual report of the Austrian Wine Marketing GmbH (ÖWM).

The ÖWM expects the export value for the full year 2024 to be lower than that of 2023, but still higher than that of 2022. The forecast is 65.8m liters at €236m.
 

Strong global interest remains

That international interest in Austrian wine has not diminished is demonstrated by the record number of visitors at VieVinum 2024. In addition, the ÖWM points to growth in potential markets such as Canada and Scandinavia. According to Statistics Austria data, exports to Canada increased in the first three quarters of 2024 to around 1.66m liters (+19.2%) and €11.17m (+16.9%).

In the markets of Norway, Sweden, Finland, and Denmark (collectively referred to as the "Nordics"), exports rose to around 3.64m liters (+1.2%) for approximately €20.4m (+1%). Declines were recorded in Great Britain (-17.5% volume, -16.1% value), Asia (-23.9% volume, 23.2% value), Switzerland (-31.9% volume, -18.8% value), and the USA (-3.5% volume, -3.6% value).
 

Germany and Switzerland

While the volume of exports to Germany remained stable (28.64m liters), the value decreased significantly (-9.4%) to approximately €73.03m. For the entire year 2024, it is estimated that 40.4m liters worth €103.7m were exported to Germany. This is attributed to the declining wine market in Germany and its "traditionally high price sensitivity." The sharp declines in Switzerland are explained by a significant downturn in the red wine market there, as well as government subsidies for Swiss wines. In the US, economic uncertainties and changed consumer behavior are cited as the reasons—however, contrary to the trend, the average revenue increased here. It should be noted that Statistics Austria figures always include re-exports of foreign wines.

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Domestic market slightly decreases

In Austria itself, wine sales in food retail fell by 2.6% and revenues by 0.9%, according to Nielsen data. This mainly affected imported wines with a 5.8% drop in sales and a 2.3% drop in revenue, while Austrian wine declined only slightly (-1% sales, -0.5% revenue). In the wholesale gastronomy sector, Austrian wine recorded a 2.3% decline in sales and a 2.5% decline in revenue.

The market share of Austrian wine in the domestic market, by value, was 83.1% in the gastronomy sector and 77% in food retail.

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