Global Decline in Wine Production and Consumption to 60-Year Low

The International Organization of Vine and Wine has reported that 2024 marks the lowest level of wine sales in over sixty years. According to the data, the consumption of this beverage has decreased by 3.3% compared to the previous year, totaling just over 214 million hectoliters, which is the smallest amount since 1961.

This is reported by AgroReview

Decline in Production and Contributing Factors

Additionally, there is a record reduction in wine production volumes. Experts explain this trend as an “ideal storm”: on one hand, there is a growing awareness of healthy lifestyles that reduces demand, while on the other hand, economic difficulties are impacting the industry.

Impact of Prices and Market Trends

According to analysts, compared to the pre-COVID period, the average price of a bottle of wine has increased by approximately 30%, leading to a 12% decrease in consumption over five years. The largest global market, the United States, is particularly feeling the effects. The tariff war initiated by former President Donald Trump has created additional challenges for wine importers.