Chilean Wines On Track For U.S. Rebound
December 2, 2024Last month, Wine Spectator crowned Concha y Toro-owned icon wine Viña Don Melchor Cabernet Sauvignon Puente Alto Puente Alto Vineyard 2021 as its Wine of the Year for 2024. The recognition gives a boost to the Chilean wine category, which has been in decline in recent years but is on track for a rebound in 2024.
After eight consecutive annual declines, bottled Chilean table wine shipment volume into the U.S. was up 28% year-to-date through September, according to the Commerce Department. Over the years, the primary price point for Chilean wines has shifted from at or below $10 a 750-ml. bottle to see the category building relevant positions in higher price segments. Off-premise, Chilean wines priced between $15 and $20 increased 5% in dollar terms for the year-to-date period ending November 3 in IRI/Circana channels, versus a 2% decline for all table wines combined.
While Chile is best known for bold reds such as Cabernet Sauvignon, Carmenere, and Malbec—as well as red blends—white varietals such as Sauvignon Blanc and Chardonnay are also a key part of the mix. Banfi’s Natura has seen double-digit growth in the U.S. so far this year from its Sauvignon Blanc, but has also done well across other varietals. Natura, priced at around $12 a bottle, has received a boost from a retail placement with the Publix chain of stores. Natura depletions have more than doubled in the U.S. the past 10 years and are now above 140,000 cases, according to Impact Databank.
Market leader Concha y Toro is also enjoying growth in 2024, as the on-premise continues to bounce back and the company shifts to a more targeted audience—and higher price points. Its Casillero del Diablo Reserva offerings ($12-$17) are up double-digits this year, while its Devil’s Collection ($15-$20) is also thriving.
The company also recently launched a new brand, Diablo, which is posting strong numbers for its initial lineup of Sauvignon Blanc, Cabernet Sauvignon, and red blend. The Concha y Toro lineup is expected to once again surpass 2 million cases in the U.S. in 2024, according to Impact Databank.
In addition to Don Melchor, other Chilean wines ranking among Wine Spectator’s Top 100 for 2024 included VIK Milla Cala Millahue 2021, Viña Tabali Sauvignon Blanc Limarí Valley Vetas 2023, and Viña Mayu Syrah Elquí Valley Gran Reserva Don Mauro Vineyard 2021.—Daniel Marsteller
| Leading Chilean Wines in the U.S. | ||||||
| Brand | Importer | Total 2023 U.S. Volume1 |
Off-Premise Volume Growth 2024 YTD2 |
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|---|---|---|---|---|---|---|
| Concha y Toro | Viña Concha y Toro USA | 1,882 | 3.8% | |||
| Franzia | The Wine Group | 1,170 | -7.9% | |||
| Santa Rita | Viña Santa Rita USA | 275 | -13.5% | |||
| Gato Negro | VSPT Wine Group | 265 | 0.6% | |||
| Natura | Banfi USA | 140 | 3.1% | |||
| Total Leading Brands | 3,732 | 2.1% | ||||
| 1 Thousands of 9-liter case depletions. 2 52 weeks ending 10/6/2024. Source: IRI/Circana & IMPACT DATABANK © 2024 |
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Tagged : Banfi, Casillero del Diablo, Concha y Toro, Natura
