Latin America: the next market for European wine?
By Dmitry Savchenko, Commercial Director, PWSB
When European wineries look for new export markets, they usually think of the United States, China or Asia. Latin America deserves a closer look. A useful way to judge a market is to compare how much wine a country drinks with how much it makes itself. Where local production covers only part of demand, imported wine has room to grow.
| Country | Consumption | Production | Production vs consumption |
|---|---|---|---|
| Brazil | 310 | 210 | about two-thirds |
| Argentina | 770 | 1,090 | about 1.4 times |
| Chile | under 200 | 930 | more than 4 times |
Source: OIV, State of the World Vine and Wine Sector in 2024. Figures rounded.
Argentina and Chile: strong at home
Both countries have large wine industries. Argentina makes about 40% more wine than it drinks, and Chile more than four times as much. That makes them difficult markets for European wine, and strong competitors in other markets.
Brazil: the big opportunity
Brazil drinks about 310 million litres of wine a year, yet only around 1.5 litres per person, so there is a lot of room to grow. Local production covers only about two-thirds of demand. Brazil is also one of the largest markets for Portuguese wine.
Smaller markets to watch
Smaller markets such as Colombia and Paraguay produce very little wine and rely almost entirely on imports, and many in the trade see interest in wine growing.
Beyond the numbers
Market size alone does not guarantee success. Price positioning, consumer habits, import rules and the right local partner decide whether a wine actually sells.
In short
For European wineries looking for new export markets, Latin America, and Brazil above all, is worth a closer look in the coming years.