OIV – World Wine Production Outlook, 2024

The OIV’s World Wine Production Outlook 2024 reports the lowest global wine output since 1961. This historic drop, estimated between 227 and 235 million hectolitres, reflects a 13% decline compared to the ten-year average. Factors such as severe weather events, including drought and early frosts, have heavily impacted production, particularly in major producing countries like France and Spain. Italy is poised to overtake France as the largest producer. The Southern Hemisphere faces its lowest output in two decades. This downturn, while economically challenging, might stabilize market imbalances caused by oversupply and declining global demand. The findings underscore the vulnerability of agriculture to climate change and the pressing need for sustainable practices.