Overview

• Global wine consumption dropped by 3.3% in 2024 to 214.2 million hectoliters, the lowest level since 1961, according to the Internationale Organisation für Rebe und Wein (OIV).
• Wine production also fell by 4.8% to 225.8 million hectoliters, marking a six-decade low influenced by adverse weather conditions such as droughts and excessive rainfall.
• Key markets like the USA saw reduced demand due to a 30% rise in wine prices since 2019/2020, alongside changing consumer lifestyles and preferences.
• In Europe, overall wine consumption declined by 2.8%, with France experiencing a 3.6% drop, though Spain and Portugal recorded slight increases.
• Trade tensions, including concerns over tariffs linked to policies from former US President Donald Trump, and rising production costs further strain the struggling wine industry.