Global Wine Consumption Falls to 60-Year Low in 2024

Global wine consumption fell to its lowest level in over 60 years in 2024, with a decline of 3.3% from the previous year, totaling 214.2 million hectolitres, as reported by the International Organisation of Vine and Wine (OIV). This decrease is attributed to shifting consumer preferences, economic challenges, and a significant increase in average prices, which are now about 30% higher than in 2019. Europe, accounting for nearly half of global sales, also experienced a 2.8% drop in wine consumption, notably in major markets like France, Italy, and Germany. France saw a reduction of 3.6% in wine consumption, while Italy's figures remained relatively stable. Concerns have arisen over potential impacts from tariffs on the wine industry, particularly in the United States, which experienced a 5.8% decline in consumption. Besides economic factors, environmental extremes have also contributed to the challenges faced by the wine production sector.