Global Wine Consumption Drops 3.3% to 214.2 Million Hectoliters in 2024, Amid US Tariff Concerns

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Updated Apr 16, 2025, 09:23 AM

Global wine consumption in 2024 reached its lowest level since 1961, dropping by 3.3% to 214.2 million hectoliters, according to the International Organisation of Vine and Wine (OIV). The OIV expressed concerns over the potential impact of US tariffs on the industry. The decline was influenced by a 30% increase in wine bottle prices since 2019-2020, leading to reduced demand. Key markets such as the United States saw a 5.8% drop in consumption to 33.3 million hectoliters, while France experienced a 3.6% decrease. Sales in China remain below pre-Covid-19 levels, despite a rebound since the pandemic. Europe, accounting for 48% of global sales, saw a 2.8% decline in consumption. Spain and Portugal were among the few markets where consumption increased. Production also hit a 60-year low, decreasing by 4.8% to 225.8 million hectoliters. Environmental factors, such as excessive rainfall and droughts in key regions, contributed to the reduced output. Italy emerged as the world's top producer with 44 million hectoliters, while France's output fell by 23% to 36.1 million hectoliters, its lowest since 1957. The US production dropped by 17.2% to 21.1 million hectoliters due to extreme heat.

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