Just Accepted Manuscripts
Discussion

State of the International Wine Markets in 2024: Stability in Global Wine Trade Amid Declining Consumption and Production

Simone Loose
Geisenheim University

Published 2025-07-14

Keywords

  • global wine trade,
  • tariffs,
  • wine types,
  • wine categories

How to Cite

Del Rey, R., & Loose, S. (2025). State of the International Wine Markets in 2024: Stability in Global Wine Trade Amid Declining Consumption and Production. Wine Economics and Policy. https://doi.org/10.36253/wep-17914

Abstract

Despite simultaneous declines in global wine production and consumption, international wine trade remained stable in 2024, with export volumes rising by 0.8% and export value falling only slightly by 0.5%. This apparent resilience conceals significant variation across product categories, regions, and markets. Bulk wine exports increased notably, offsetting volume losses in bottled wine, largely driven by heightened production volatility and a growing need for intra-industry trade. At the same time, consumer preferences continued to shift toward white, sparkling, and low- and no-alcohol wines, as confirmed by both trade data and expert assessments.

The three leading exporters—France, Italy, and Spain—displayed divergent developments, with Italy outperforming in both volume and value terms, largely due to its strong performance in sparkling wine exports. Italy is briefly presented as a best-practice case, warranting further research into the structural factors behind its long-term export success as a potential model for other wine-producing countries.

On the import side, the United States, the United Kingdom, and Germany followed different trajectories, with the U.S. showing a tentative recovery in 2024, partly driven by anticipatory stockpiling amid fears of renewed tariffs. The escalation of U.S. tariff threats in early 2025 raised serious concerns about long-term trade stability and the role of the U.S. as a reliable export destination—developments that are likely to trigger structural shifts in global wine trade patterns.

Industry experts continue to cite economic pressures, declining wine consumption, and increasingly restrictive alcohol policies as key challenges. While the 2024 trade performance may be viewed as a sign of resilience, special factors such as temporary stockpiling and shifting supply chains are expected to weigh on trade outcomes in 2025. These developments underscore the need for continuous monitoring, strategic adaptation, and deeper understanding of the structural transformations affecting global wine trade.

References

  1. OIV, The State of the World Vine and Wine Sector in 2024. 2025: Dijon
  2. Loose, S.M. and R. del Rey, State of the International Wine Markets in 2023. The wine market at a crossroads: Temporary or structural challenges? Wine Economics and Policy, 2024
  3. del Rey, R., S&P International Trade Data, elaborated by Del Rey AWM. 2025
  4. Del Rey, R. and S. Loose, State of the International Wine Markets in 2022: New market trends for wines require new strategies. Wine Economics and Policy, 2023. 12(1): p. 3-18 https://doi.org/10.36253/wep-14758 DOI: https://doi.org/10.36253/wep-14758
  5. Ford, H., et al., Exploring consumers’ drinking behaviour regarding no-, low- and mid- alcohol wines: a systematic scoping review and guiding framework. Journal of Marketing Management, 2025: p. 1-31 10.1080/0267257X.2025.2499101.
  6. Waehning, N. and V.K. Wells, Product, individual and environmental factors impacting the consumption of no and low alcoholic drinks: A systematic review and future research agenda. Food Quality and Preference, 2024. 117: p. 105163 https://doi.org/10.1016/j.foodqual.2024.105163. DOI: https://doi.org/10.1016/j.foodqual.2024.105163
  7. Loose, S., ProWein Business Report 2025 - Shaping the Future of Wine. 2025, ProWein: Düsseldorf
  8. Anderson, K., China's Wine Market: Recent Shocks, Long-term Prospects. 2025, Wine Economics Research Centre, University of Adelaide, Working Paper: Adelaide
  9. Nagel, S., Premiumization at thhe heart of long-term sustainability: Interivew with Eugenio Pomarici from the University of Padua, in Vitisphere. 2017
  10. Pomarici, E., et al., The Italian wine sector: Evolution, structure, competitiveness and future challenges of an enduring leader. Italian Economic Journal, 2021. 7(2): p. 259-295 DOI: https://doi.org/10.1007/s40797-021-00144-5
  11. Frescobaldi, L., "Wine consumption in recession. Pre-tariff stockpiling misled the markets." UIV's message to policymakers, in Gambero Rosso International. 2025
  12. Loose, S., C. Kiefer, and A. Wetzler, Umsatz- und Absatzentwicklung Apri 2025, Geisenheim Digital Sales Analysis. 2025
  13. SipSource, US Access Live 2025, SipSource Industry Updates on Sales of Alcoholic Beverages in the US Market. 2025
  14. Anderson, K. and G. Wittwer, Impacts of US-led tariff war on international trade in wine, beer and spirits. Journal of Wine Economics, 2025. in press