Global Wine Consumption Reaches Lowest Level in 27 Years, Down by 15% from Previous Year, with China Leading the Decline

The International Wine and Vine Office (OIV) reported that global wine consumption decreased last year due to rising consumer prices. In 2023, the estimated global wine consumption was 221 million hectoliters, the lowest level in 27 years. This decline in consumption was attributed to several factors, including geopolitical tensions, the energy crisis, and supply chain disruptions in the global economy.

The decrease in wine consumption was particularly pronounced in China, where it fell by 25% compared to the previous year. This trend has been ongoing for the past five years and is influenced by factors such as COVID-19 pandemic and escalating wine prices.

In addition to declining consumption, the OIV also reported a decrease in wine production last year, reaching its lowest level in over 60 years. The estimated global wine production in 2023 was 237 million hectoliters, a 10% decrease from the previous year. This drop in production was attributed to poor weather conditions, including early frosts, heavy rains, and drought as well as fungal diseases affecting vineyards in both hemispheres.

Major wine-producing countries like Italy also experienced a significant decline in production. France surpassed Italy as the largest producer of wine in 2023. These trends have had a significant impact on the global wine market and highlight challenges faced by the industry.

The OIV is a joint organization of fifty member states based in Paris that provides valuable insights into the global wine market and trends. Finland withdrew from the organization