The wine industry is facing significant challenges due to a decline in global consumption and production, according to the International Wine and Vine Office (OIV). The OIV estimates that 221 million hectoliters of wine were consumed worldwide in 2023, the lowest level in 27 years. This decrease was attributed to rising production and distribution costs, driven by factors such as geopolitical tensions, the energy crisis, and supply chain disruptions in the global economy.
The decline 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, influenced by factors such as the COVID-19 pandemic and escalating wine prices. Despite this decline, major wine-producing countries like Italy still experienced a significant drop in production. France surpassed Italy as the largest producer of wine in 2023.
The estimated global wine production in 2023 was 237 million hectoliters, a 10% decrease from the previous year. Poor weather conditions, including early frosts, heavy rains, and drought, as well as fungal diseases affecting vineyards in both hemispheres contributed to this drop in production. These trends have had a significant impact on the global wine market and highlight challenges faced by the industry.
The OIV provides valuable insights into these trends through its monitoring and analysis of the global wine market. Finland withdrew from the organization in 2015 but has continued its work independently since then.
