The global wine market faced significant challenges in 2023, as both consumption and production decreased due to a variety of factors. According to the International Wine and Vine Office (OIV), wine consumption dropped by 10% worldwide, reaching its lowest level in 27 years. This decline was driven by rising consumer prices, which increased production and distribution costs, as well as geopolitical tensions, the energy crisis, and supply chain disruptions.
In China, wine consumption fell by 25%, marking a trend over the past five years that has been influenced by the COVID-19 pandemic and escalating wine prices. In addition to declining consumption, global wine production also decreased last year, reaching its lowest level in over 60 years. This drop was caused by poor weather conditions such as early frosts, heavy rains, and droughts that affected vineyards in both hemispheres.
Major wine-producing countries like Italy experienced a significant decline in production last year. Italy produced the least amount of wine since 1950, while France surpassed Italy as the largest producer of wine in 2023. These trends have had a significant impact on the global wine market, highlighting challenges faced by the industry.
The OIV is a joint organization of fifty member states based in Paris that provides valuable insights into the global wine market and trends. Despite Finland withdrawing from the organization in 2015, the OIV continues to monitor and analyze the wine industry on a global scale.