Worldwide consumption of wine fell in 2024 to its lowest degree in additional than 60 years, the primary commerce physique has stated, elevating considerations about new dangers from US tariffs.
The Worldwide Organisation of Vine and Wine (OIV) stated on Tuesday that 2024 gross sales fell 3.3% from the earlier yr to 214.2m hectolitres.
The OIV, whose report was based mostly on authorities figures, stated this might be the bottom gross sales determine since 1961, when gross sales have been 213.6m hectolitres.
Manufacturing can be at its lowest degree in additional than 60 years, having fallen 4.8% in 2024 to 225.8m hectolitres.
The OIV’s statistics chief, Giorgio Delgrosso, stated the wine business had been hit by an ideal storm as well being considerations drive down consumption in lots of nations and financial elements added to troubles.
“Past the short-term financial and geopolitical disruptions, it is very important take into account the structural, long-term elements additionally contributing to the noticed decline in wine consumption” the IOV’s annual report stated.
The OIV stated the buyer was now paying about 30% extra for a bottle now than in 2019-20 and general consumption had fallen by 12% since then.
In the US, the world’s prime wine market, consumption fell 5.8% to 33.3m hectolitres.
Delgrosso stated tariffs ordered by the US president, Donald Trump may change into “one other bomb” for the wine business.
Gross sales in China stay beneath pre-Covid ranges. In Europe, which accounts for almost half of worldwide gross sales, consumption fell 2.8% final yr. In France, one of many key world producers, 3.6% much less wine was consumed final yr. Spain and Portugal have been among the many uncommon markets the place consumption elevated.
The OIV stated manufacturing had been hit by environmental extremes comparable to above-average rainfall in some areas and droughts in others.
Italy was the world’s prime producer with 44m hectolitres, whereas France’s output fell 23% to 36.1m hectolitres, its lowest degree since 1957.
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Italy can be the most important wine exporter and its commerce elevated due to the recognition of glowing wines comparable to prosecco.
Spain produced 31m hectolitres, whereas US wine output fell 17.2% to 21.1m hectolitres, primarily due to excessive warmth.
The OIV couldn’t predict if consumption would take off once more and business gamers, such because the French chain of wine retailers Nicolas, say there’s a “generational” fall in consuming.
“Folks don’t drink in a festive manner any extra and younger folks devour lower than their mother and father,” the corporate stated in an announcement to Agence France-Presse.
Nonetheless, “folks drink much less, however higher”, Nicolas stated, and so are able to spend extra.
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