Wine consumption falls heavily into the red in over 60 years

Worldwide consumption of wine fell in 2024 to its lowest level in more than 60 years, the main trade body said on Tuesday, raising concerns about new risks from US tariffs.

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The International Organisation of Vine and Wine (OIV) said that 2024 sales fell 3.3% from the previous year to 214.2 million hectolitres.

OIV, whose report was based on government figures, said this would be the lowest sales figure since 1961, when sales were 213.6 million hectolitres.

Production is also at its lowest level in more than 60 years, having fallen 4.8% in 2024 to 225.8 million hectolitres.

OIV statistics chief Giorgio Delgrosso said the wine industry had been hit by a perfect storm, with health concerns driving down consumption in many countries while economic factors had added to troubles.