The OIV’s new 2024 World Wine Production Outlook (PDF) highlights a challenging year for the global wine industry, with production estimated at 227 to 235 million hectolitres, reflecting a 2% decline from 2023 and a 13% decrease compared to the ten-year average. This marks the lowest global output since 1961, primarily driven by adverse climatic conditions across both hemispheres.
In Europe, production has been significantly affected by extreme weather, with France experiencing a sharp 23% drop, while Italy regains its position as the leading global producer despite remaining 13% below its five-year average. Spain, although improving from 2023, remains 4% below its average. Other European countries report mixed outcomes, with some modest increases in regions like Hungary and Greece, yet most are below their historical averages due to droughts, frosts, and storms.
The Southern Hemisphere faces its lowest production in two decades, with notable declines in countries like Chile, Brazil and South Africa due to severe weather events. Argentina, however, shows a strong recovery with a 23% increase from the previous year. Australia and New Zealand also struggle, with output well below their respective averages.
In the United States, production is slightly below 2023 levels, while other northern hemisphere countries, such as Georgia, see remarkable growth due to favourable conditions.
The report shows the industry’s vulnerability to climate change and highlights the need for adaptive strategies. Despite reduced production, high inventory levels and declining consumption may mitigate economic impacts for some producers.
