The world wine market is in crisis: consumption and production have fallen to a minimum in sixty years

The world wine sector is experiencing the biggest decline in decades. According to the latest report from the International Organization of Vine and Wine (OIV), in 2024 global wine consumption fell to its lowest level since 1961, which is causing concern among producers, especially in view of the possible introduction of new US tariffs.

As France 24 reports, citing OIV data, last year global wine sales fell by 3.3% compared to 2023, amounting to 214.2 million hectoliters. For comparison, more than sixty years ago, in 1961, this figure was 213.6 million hectoliters. The decrease is tangible and demonstrates a serious transformation in global demand for wine products.

In addition to the drop in consumption, production has also decreased significantly. In 2024, global wine production decreased by 4.8% to 225.8 million hectoliters, which is also a record for the last six decades. The decrease is explained not only by a decrease in demand, but also by difficult climatic conditions that affect the yield of vineyards.

Another worrying trend is the further reduction of grape plantations. For the fourth consecutive year, the area of ​​vineyards in the world has been decreasing, and as of 2024 it is 7.1 million hectares. This also negatively affects the production capacity of the industry and the prospects for its recovery.

Despite the general crisis, some countries remain world leaders in wine production. Italy retained its leadership in 2024, followed by France and Spain. The top five also included the USA and Argentina, which continue to hold strong positions in the global market.

Analysts believe that the deepening crisis in the industry could be exacerbated by new trade barriers, including potential tariffs from the United States. Such changes could further reduce the competitiveness of European manufacturers in foreign markets and complicate market recovery in the coming years.