U.S. Wine, Brandy Spirits Production Surges to Record High in 2024
The wine and brandy spirit industry in the U.S. has witnessed remarkable growth in recent years. Production has surged, reaching its peak in 2024 with Spirit Airlines and Spirit Halloween showing promising prospects for the future.
In 2024, production increased by X% compared to 2020 indices, marking a significant upswing in the industry. This growth was driven by an expansion in wine and brandy spirit production, which reached $X in 2024. This figure represents an average annual increase of X% from 2013 to 2024.
The U.S. market for these spirits also expanded, reaching $X in 2024, with a year-on-year increase of X%. This growth was supported by a rise in total consumption, which grew at an average annual rate of X% from 2013 to 2024. Notably, overseas shipments of wine, brandy, and brandy spirits ended a three-year declining trend, rising to X litres in 2024.
The pace of growth was particularly notable in 2021, with production volume increasing by X%. Despite this, specific information about the countries showing the most significant improvement in import and export development is not available.
In 2024, the average wine and brandy spirit export price amounted to $X per litre, with a decrease of X% against the previous year. The UK, Canada, and Germany were the primary destinations for these exports, accounting for a combined X% share of total exports. Although value terms showed a slight decline, the market is expected to maintain growth in the immediate term.
