Global Wine Consumption Drops to Lowest Level in Over 60 Years — OIV Raises Tariff Concerns |LAGOS EYE NEWS

Global wine consumption fell sharply in 2024, reaching its lowest level in more than six decades, according to a report released Tuesday by the International Organisation of Vine and Wine (OIV).

The report, based on official government data, revealed that global wine sales dropped by 3.3% compared to the previous year, totaling 214.2 million hectolitres. This marks the lowest level of wine consumption since 1961, when sales stood at 213.6 million hectolitres.

Wine production also saw a significant decline, falling 4.8% to 225.8 million hectolitres in 2024—another record low not seen in over 60 years.

OIV’s Head of Statistics, Giorgio Delgrosso, described the situation as a “perfect storm” for the wine industry.

He attributed the downturn to a mix of growing health concerns among consumers and unfavorable economic conditions, which have dampened demand across several major markets.

The trade body also expressed growing concerns over the potential impact of new U.S. tariffs, which could further strain the global wine market already grappling with historic lows.