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Global wine consumption is falling!
Data released by the International Organisation of Vine and Wine (OIV) revealed that global wine consumption in 2023 fell by 2.6 percent compared to the previous year, continuing the downward trend of recent years.
Continuing its steady decline, global wine consumption reached its lowest level since 1996 in 2023. But are there any countries outside this trend?
According to the latest data from the International Organisation of Vine and Wine (OIV), world wine consumption in 2023 is estimated at 22,100 million litres, a 2.6 percent decrease compared to 2022. This also represents a steady downward trend since 2018.
Why is wine consumption declining?
There are several reasons for this trend, one of which is the decline in China’s consumption. With an average annual decline of 200 million litres since 2018, China is affecting global consumption figures.
The pandemic in 2020 was followed by geopolitical tensions (especially the conflict in Ukraine) and subsequent energy crises and supply chain disruptions. As a result, production and distribution costs increased. This led to significant price increases for wine consumers, reducing overall demand.
As a result, with few exceptions, most major wine markets have experienced significant declines in wine consumption…
