In the last two years, wine has suffered the impact of the decline in the domestic market and external sales. In the first quarter, Argentine wine exports fell 12% year-on-year, after a 26% drop last year.
CEO of Wines of Argentina (WofA), Magdalena Pesce, describes that wine consumption is declining in the world. "There is a new paradigm, consumers are changing. New generations drink more moderately, and on the other hand, in Generation Z, there are more and more people who are abstainers. This causes markets like the United States to no longer grow," she says. The sector is betting on "premiurization" and "education and advocacy" to boost sales and profits. The U.S. is positioned at the top of the destinations, followed by the United Kingdom, Brazil, and Canada, Pesce says. "This year we have a better harvest than last year," says WofA's CEO, "but Argentina wine has a long way to go"