Global Wine Consumption at 27-Year Low, Production Down in 2023 Due to Multiple Factors

The International Wine and Vine Office (OIV) reported a significant decrease in global wine consumption last year due to rising consumer prices. In 2023, the world consumed 221 million hectoliters of wine, the lowest level in 27 years. This decline was attributed to factors such as geopolitical tensions, the energy crisis, and supply chain disruptions in the global economy.

The decrease in wine consumption was particularly pronounced in China, where it fell by 25% compared to the previous year. This trend has been ongoing over the past five years, influenced by factors such as COVID-19 and escalating wine prices. Despite this decline, China remains one of the largest consumers of wine globally.

In addition to declining consumption, the OIV also reported a decrease in wine production last year, reaching its lowest level in over 60 years. The estimated global wine production in 2023 was 237 million hectoliters, a 10% decrease from the previous year. Poor weather conditions and fungal diseases affecting vineyards were cited as reasons for this drop in production.

Major wine-producing countries like Italy experienced a significant decline in production as well, with Italy producing the least amount of wine since 1950. France surpassed Italy as the largest producer of wine in 2023. These trends have had a significant impact on the global wine market and highlighted challenges faced by the industry.

The OIV is a joint organization of fifty member states based in Paris that provides valuable insights into the global wine market and trends. While Finland withdrew from the organization in 2015, leaving it to continue its work monitoring and analyzing the wine industry on a global scale.