Global Wine Consumption and Production Plummet in 2023 Due to Geopolitical Tensions, Energy Crisis and Weather Conditions

In 2023, global wine consumption decreased significantly due to a rapid increase in consumer prices, according to the International Wine and Vine Office (OIV). This was the lowest level of consumption in 27 years, with an estimated 221 million hectoliters consumed worldwide. The decrease in consumption was attributed to rising production and distribution costs, driven by geopolitical tensions, the energy crisis, and supply chain disruptions in the global economy.

China experienced a particularly pronounced decline in wine consumption, falling by 25% compared to the previous year. This decrease has been a trend over the past five years, influenced by factors such as COVID-19 and escalating wine prices.

In addition to declining consumption, wine production also decreased 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. This drop in production was attributed to poor weather conditions like early frosts, heavy rains, and droughts affecting vineyards worldwide. Major wine-producing countries like Italy also experienced a significant decline in production. Italy produced 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.