Global Wine Production Hits Historic Low Due to Climate Change

Global Wine Consumption Reaches Historic Low

In 2024, global wine consumption plunged to its lowest level since 1961, according to the International Organisation for Vine and Wine (OIV). This marked a 3.3% decline from 2023, with consumption falling to 214.2 million hectoliters. The drop is attributed to decreasing demand in key markets like the USA, rising wine prices, and shifts in consumer preferences. Since 2019/2020, wine prices have surged by 30%, influencing buying habits. Europe, which accounts for nearly half of global wine sales, saw a 2.8% decrease in consumption. France experienced a 3.6% decline, whereas Spain and Portugal noted slight increases. Wine production also fell by 4.8% to 225.8 million hectoliters, the lowest in over 60 years. The industry faces challenges such as extreme weather events and potential trade conflicts, impacting both production and sales. A generational shift towards higher-quality but less frequent wine consumption is also noted.