On top of the concerns raised by US Tariffs. It is reported that worldwide consumption of wine fell last year to its lowest level in 60 years. The International Organisation of Vine and Wine (OIV) recently stated that in 2024 sales fell 3.3% from the previous year to 214.2m hectolitres. Based on government statistics, the published findings said that this would be the lowest sales figure since 1961, when sales were 213.6m hectolitres.
Production is also at its lowest level in more than 60 years, falling by 4.8% in 2024 to 225.8m hectolitres.
In the USA, the world's top wine market, consumption fell by 5.8% to 33.3m hectolitres. Europe accounts for around half of worldwide consumption of wine. Figures suggest that consumption fell by 2.8%, with only Spain and Portugal showing a rare increase in consumption. Italy was the world's top producer with 44m hectolitres. France's output was its lowest since 1957 and fell by 23% to 36.1m hectolitres.
Sales in China remain below pre-covid level.
It is felt that there is a generational change in drinking habits, fueled by an assortment of factors, The fact that people tend not to drink in a festive way anymore and young people drink less than their parents. The OIV stated that the consumer was now paying around 30% more for a bottle than in 2019 - 2020 and overall consumption has fallen by 12% since then.
Perhaps the Trade needs to take a look at itself and ask if it's doing its best to bring the younger generation into the responsible wine drinking fold. Simplified language on wine labels for example with less complex terminology. Engaging educational content - videos, blogs and podcasts offering fun filled wine knowledge. Encouraging social media sharing using branded hashtags and offering online contests and promotions. Affordable wine offerings aimed at the younger buyer on a limited budget. Tasting and events aimed at them with influencers beating the drum to explore wine and target marketing being used on a variety of platforms, encouraging younger drinkers to enjoy the wonderful world of wine.
It's worth a try, as surely many of our 18/21 year old wine drinkers will turn into regular customers across all sources of supply.
As for Tariffs, this global trade does not want them thank you.
