Worldwide consumption of wine fell in 2024 to its lowest stage in additional than 60 years, the principle commerce physique mentioned Tuesday, elevating considerations about new dangers from US tariffs.
The Worldwide Organisation of Vine and Wine (OIV) mentioned that 2024 gross sales fell 3.3 p.c from the earlier 12 months to 214.2 million hectolitres.
The OIV, whose report was based mostly on authorities figures, mentioned this might be the bottom gross sales determine since 1961, when gross sales had been 213.6 million hl.
Manufacturing can be at its lowest stage in additional than 60 years, having fallen 4.8 p.c in 2024 to 225.8 million hl.
OIV statistics chief Giorgio Delgrosso mentioned the wine trade had been hit by an ideal storm with well being considerations driving down consumption in lots of international locations whereas financial components had added to troubles.
“Past the short-term financial and geopolitical disruptions,” mentioned the IOV’s annual report, “it is very important think about the structural, long-term components additionally contributing to the noticed decline in wine consumption.”
The OIV mentioned that the patron is now paying about 30 p.c extra for a bottle now than in 2019-2020 and total consumption has fallen by 12 p.c since then.
The United States, the world’s prime wine market, noticed consumption fall 5.8 p.c to 33.3 million hl.
Delgrosso mentioned that tariffs ordered by US President Donald Trump, regardless that briefly suspended, may develop into “one other bomb” for the wine trade.
Gross sales in China stay under pre-Covid-19 ranges, regardless of a rebound for the reason that pandemic.
Europe, which accounts for practically half of worldwide gross sales, noticed consumption fall 2.8 p.c final 12 months. Even in France, one of many key world producers, 3.6 p.c much less wine was knocked again final 12 months.
Spain and Portugal had been amongst uncommon markets the place consumption elevated.
The OIV mentioned manufacturing had been hit environmental extremes corresponding to above common rainfall in some key areas and droughts in others.
Italy was the world’s prime producer with 44 million hl, whereas France’s output fell 23 p.c to 36.1 million hl, its lowest stage since 1957.
Italy can be the largest wine exporter and its commerce elevated due to the recognition of glowing wines corresponding to Prosecco.
Spain produced 31 million hl, whereas US wine output fell 17.2 p.c to 21.1 million hl, primarily due to excessive warmth.
The OIV couldn’t predict if consumption would take off once more and wine trade gamers, such because the French retail chain Nicolas say there’s a “generational” fall in ingesting.
“Individuals don’t drink in a festive manner anymore and younger folks eat lower than their mother and father,” the corporate mentioned in an announcement to AFP.
But it surely added, “folks drink much less, however higher” and so are able to spend extra.
AFP
Source link
#Wine #Consumption #Falls #Heavily #Red
