The world’s leading producer, third in export value: the Achilles heel of Spanish wine

Spanish exports are approaching three billion euros, but the average price per litre reveals a market position that falls well short of the product’s true potential

There is an uncomfortable truth that the Spanish wine sector has been sidestepping for decades, and which the figures bring back into the spotlight with the reliability of a harvest. Spain is the country with the greatest vineyard surface area on the planet — 911,000 hectares representing 13 per cent of the global total — the second-largest exporter by volume and an undisputed benchmark in organic production. And yet domestic consumption remains stagnant at around 24 litres per person per year, placing the country among the lowest in Europe on that particular indicator.

In 2024, Spain increased its export revenue by around 41 million euros compared with the previous year, but to achieve that it had to ship 101 million fewer litres abroad. In absolute terms, exports stood at 2.977 billion euros and 1.935 billion litres — the second-best historical figure in value terms, but a volume not seen since 2013. The message contained in those numbers is as clear as it is revealing: Spain is learning to sell less and charge more, though the distance it still needs to travel to match the price per litre commanded by its main competitors remains considerable.

The contrast with France illustrates the problem perfectly. The neighbouring country leads the global market in value, maintaining that position with export volumes far below those of Spain, thanks to an average price per litre that is three or four times higher than that of Spanish wines. Italy, for its part, strikes a more balanced combination of volume and value. Spain, by contrast, remains overly reliant on bulk wine, which accounts for more than half of the volume exported but contributes barely 17 per cent of total revenue.

The main destinations for Spanish wine exports are Germany, the United States, France and the United Kingdom. In bottled wine, the British market leads purchasing, whilst in bulk wine Germany displaced France in 2024 as the primary destination. Geographical diversification is progressing, but dependence on mature and declining European markets remains a risk factor for the sector as a whole.

The upward trend in prices provides some comfort. White wine was trading at 52.98 euros per hectolitre at the end of 2025, up 6.7 per cent on the previous year, whilst red wine stood at 43.57 euros, with a more modest rise of 0.4 per cent. These are signs of a market learning to value its product more appropriately, though the challenge of international repositioning is a long-term undertaking that cannot be resolved in a single campaign or a single year.

Sobrelías Redacción

Sobrelías Redacción