Wine consumption at lowest since 1961
In its State of the World Vine and Wine Sector in 2024 report, the OIV estimated global consumption in 2024 at 214.2 million hectolitres (mhl), down 3.3% from historic lows in 2023.
The OIV called 2024 a "challenging year" and said high prices and declining demand in major markets hit consumption. It added prices were high due to low production volumes and "the lingering effects of past inflation."
Fifteen of the world's top 20 markets experienced reduced year-on-year consumption. In China, consumption tanked 19.3% to 5.5 mhl. Consumption there has dropped at an average of 2 mhl each year since 2018, the OIV said.
Other countries' wine consumption habits have fluctuated far less, with consistent figures in the top five consuming markets of the US, France, Italy, Germany and the UK. That said, consumption fell in four of those five markets in 2024 year-on-year, save for Italy where consumption was level.
In the world's largest market, the US, consumption decreased by 5.8% to 33.3 mhl. Canada told a similar story, where consumption fell 6.4% to 4.6 mhl.
Notably, in Argentina consumption fell to 7.7 mhl, its lowest level since 1942.
Future wine demand has to contend with evolving lifestyle preferences, shifting social habits and generational changes in consumer behaviour, the OIV said. Other factors like the Covid-19 pandemic and the Ukraine conflict, it said, had also contributed to a troubled global market.
OIV director general John Barker said the wine sector had to adapt. 'Working together to develop solutions to climate change and making wine a beacon of sustainability, investing in research on new audiences so that we can see wine through their eyes, reinforcing our commitment to multilateralism and global trade: These are the elements that will lead the wine sector forward," he said.
Wine production also decreased to its lowest level since 1961. The OIV estimates 2024 wine production excluding juices and musts at 225.8 mhl, marking a 4.8% fall year-on-year. In 1961, 219 mhl were produced due to spring frosts in Southern Europe.
Production fell year-on-year by 17.2% in the US, 17% in China and 15.6% in Chile and 9.8% in Germany. Bucking the trend, production in Russia grew 19.3%, while in minor producer Georgia production spiked 26.6%.
"Atypical meteorological events" such as early frost, heavy rainfall, and prolonged drought impacted vineyard productivity dramatically, the OIV said.
Global wine export volume remained at its lowest level since 2010, totalling 99.8 mhl, down 0.1% compared to 2023. Global export value is estimated at €35.9bn ($40.8bn), a slight decline of 0.3%, the OIV said.
"Wine consumption at lowest since 1961 – OIV" was originally created and published by Just Drinks, a GlobalData owned brand.
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