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Global Wine Industry Faces Record Declines in Production and Consumption

Extreme weather, economic pressures, and shifting consumer habits drive historic lows in wine output and demand, with new U.S. tariff threats adding to challenges.

Bottles of wine from Tuscany are displayed inside a pavillion at the wine and spirits fair Vinitaly which occurs amid the newly imposed U.S. tariffs, inlcuding the European Wine imports, in Verona, Italy, April 6, 2025. REUTERS/Claudia Greco/File Photo
The OIV said production had been hit environmental extremes
Italy was the world's top producer with 44 million hl

Overview

  • Global wine production fell 4.8% in 2024 to 226 million hectolitres, the lowest level in over 60 years, with adverse weather and disease cited as key factors.
  • Consumption dropped 3.3% to 214 million hectolitres, marking the lowest levels since 1961, as inflation and generational shifts reduced demand.
  • The U.S., the world's largest wine market, saw a 5.8% decline in consumption, while Europe experienced a 2.8% decrease, though Spain and Portugal recorded slight increases.
  • The surface area of global vineyards contracted for the fourth consecutive year, reflecting structural changes and reduced planting efforts.
  • Despite falling production and consumption, the wine market's value increased due to higher prices, with exports valued at €35.9 billion in 2024.