Global wine consumption falls to six-decade low as inflation bites

The global wine industry faced another year of lower consumption in 2024, with inflation weighing on shopping budgets and traditional major consumers such as France continuing a trend of drinking less wine.

Global wine consumption fell 3.3% to 214 million hl last year, a third consecutive decline to the lowest since 1961, according to estimates by the International Organisation of Vine and Wine (OIV).

‘The effects of lingering inflationary pressures and market uncertainty have affected price and consumer attitudes,’ OIV director general John Barker said in an online press briefing.

‘We also continue to observe the effects of a long-term decrease in consumption in several mature markets shaped by evolving lifestyle preferences, shifting social habits and generational changes in consumer behaviour.’

Wine consumption in the United States, the biggest market, fell 5.8% to 33.3 million hl, while the volumes consumed in France fell 3.6% to 23 million hl. Italy, Spain and Portugal bucked the global trend, with stable or slightly increased consumption in 2024.

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