Global wine production hits historic low

Published 2024년 12월 3일

Tridge summary

Wine production is expected to reach a 60-year low in 2024 due to climate change and economic pressures, with global production estimated at 231 million hectolitres, marking the smallest output since 1961. Adverse weather conditions and economic pressures, especially in the European Union, have contributed to the decline. However, Argentina saw a notable recovery with a 23% increase from 2023. The industry is responding to climate change by identifying ways to reduce emissions and experimenting with new grape varieties. Some regions have been resilient, such as Georgia, Hungary, and South Africa, which reported their highest harvest since 2010, stable stocks, and a positive outlook for 2025.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Global wine is set to hit a 60-year low as climate change and economic pressures disrupt vineyards worldwide. Global wine production is set to drop to one of its lowest levels in more than six decades, with 2024 volumes forecasted at 231 million hectolitres (mhl) a 2% decline from 2023 and 13% below the ten-year average. This marks the smallest output since 1961, according to preliminary data from the International Organisation of Vine and Wine (OIV). Adverse weather events, exacerbated by climate change, have been the primary driver of the downturn, with extreme conditions from early frosts to droughts impacting vineyards worldwide. In addition, economic pressures and shifting market dynamics have contributed to the challenging environment for producers. The European Union, which typically accounts for 60% of global wine production, has seen significant declines. Total EU production is estimated at 139 mhl for 2024, down 3% from 2023 and 11% below the five-year average, making it ...

Source: Thedrinkbusiness