The International Wine and Vine Office (OIV) has reported that global wine consumption decreased by 2.6% last year, with the rise in consumer prices being the primary contributor to this decline. This decrease was mainly attributed to rapid inflation, geopolitical tensions, energy crisis, and supply chain disruptions.
China saw a significant decrease in wine consumption last year, with a 25% drop from the previous year. The country’s wine consumption had initially surged at the beginning of the millennium but has been on a downward trend over the past five years due to factors such as COVID-19 pandemic and rising wine prices.
According to the OIV, global wine production also fell to its lowest level in over 60 years last year. An estimated 237 million hectoliters of wine were produced, which is a ten percent decrease from 2022. Poor weather conditions like early frosts, heavy rains, drought, and widespread fungal diseases in both the northern and southern hemispheres were cited as contributing factors.
Italy, one of the major wine-producing countries, saw its wine production drop to its lowest level since 1950 last year. The country produced 38.3 million hectoliters of wine last year, which is a 23% decrease from the previous year. France took over Italy as the largest wine producer in production volume.
The OIV is a multinational organization with headquarters in Paris that consists of fifty member states worldwide. Despite this decline in global wine production and consumption levels, it remains important for countries that rely heavily on winemaking as an important part of their economy to continue promoting sustainable winemaking practices that can ensure long-term success in this industry.