Friday, 10th October 2025

Global Wine Consumption Hits 30-Year Low as Prices Reach Record Highs

Global wine consumption in 2023 has plunged to a 30-year low as inflation drives prices to record highs

Global wine consumption in 2023 has dropped to its lowest level since 1996 due to inflation driving prices to record highs, according to the Paris-based International Organisation of Vine and Wine (OIV). This trend has further strained consumers already grappling with reduced purchasing power.

The OIV estimated that global wine consumption reached 221 million hectolitres in 2023, a 2.6% decrease from 2022 and a 7.5% decline compared to 2018, as reported by Reuters. The report revealed a significant drop in demand in China, with consumption plummeting by 25%.

The OIV has also revised its 2022 wine production estimate down to 237 million hectolitres, the lowest since the 1960s and 10% below 2022 production levels. The reduced output is attributed to adverse weather conditions, early frost, heavy rainfall, drought, and fungal diseases affecting both the northern and southern hemispheres.

Notably, Italy’s production of 38.3 million hectolitres was the lowest since the 1950s, marking a 23% decrease from the previous year. This drop caused Italy to lose its position as the leading wine producer, ceding the title to France.

Have a news tip or story to share? Email us at info@connectingregion.com

Zuckerberg Predicts Mobile Phones Will Disappear by 2030

TThis is inevitable as new technologies like augmented reality (AR) glasses and virtual reality (VR) devices reshape how people...

ProCredit Launches ProConnect Platform

The platform is the first of its kind in the region, offering firms the ability to present their products...

Switzerland Tops Global Innovation Ranking, China Enters Top 10

China has entered the top 10 for the first time, taking the 10th spot and replacing Germany, which fell...

Meta, Google, Microsoft Pay Top AI Experts Up to $300K

Meta, Google, and Microsoft offer top researchers up to $300,000 annually—and up to $1.5M over four years. Meta recently...

World First: Albania Elevates AI to Ministerial Rank

In a world first, Albania has appointed an artificial intelligence system to ministerial rank. Prime Minister Edi Rama announced...
spot_img

Connecting the Adria Region Decision Makers

The Region is more than a publication - it's where the region's elite converge for insights and opportunities