The Sherry Regulatory Council presented sobering figures at the end of January in Jerez. According to the council, Sherry sales fell 6.4% in 2024 compared to the previous year, reaching 21.4m liters. This marks the third consecutive year of declining sales. A peak was last seen in 2021 with 31.8m liters sold, likely due to the pandemic. However, between 2010, when sales were at 46.5m liters, and the end of 2024, Sherry sales have decreased by 48%, according to the local newspaper ‘Diario de Sevilla.’
Exports drive Sherry decline
The decline in Sherry sales is largely attributed to a significant drop in key export markets. While the domestic market remained relatively stable with a 3.4% decrease (11m bottles), exports saw a sharper decline of 8.8% (13m bottles).
Performance varied across different markets. In the UK, the most important export destination for Sherry, sales fell to under 5.7m liters (-18%), likely due in part to significant stockpiling in 2023 ahead of alcohol tax increases in the following year.
Germany experienced a dramatic 25% drop in Sherry imports, falling to 1m bottles. In contrast, sales in the Netherlands, the second largest export market, remained practically unchanged (-1.9% to 1.5m liters). The US saw a significant increase of 25.9% (754,000 liters), likely due to the threat of tariffs in 2025. A true bright spot, albeit at a low volume, is exports to Asia, which increased by 27.9%, although this only represents 253,000 liters.
Manzanilla leads Sherry categories
Regarding Sherry categories, three varieties each account for over 5m liters in sales volume. Manzanilla remains the leader with 5.8m liters, although less than 10% is exported. In contrast, for Cream, the second-largest category, 4 out of 5.5m bottles are exported. Fino, the third-largest category with 5.1m liters, is split roughly fifty-fifty between domestic sales (2.4m bottles) and exports (2.7m bottles). However, exports declined while the domestic market saw growth.
The January statistics are still incomplete, as sales figures are not expected until the end of the first quarter. However, early indications suggest that the value of Sherry sold may have increased. This is because the decline in volume mainly affected the younger Sherry categories (-10%), while the more expensive wines with certified aging increased by 5.8%.
Along with the presentation of the sales figures, the Sherry Regulatory Council approved a budget of almost €3.3m for 2025, of which €2.5m is earmarked for sales promotion. SP
