“Consumption has changed: red wines are losing market shares,” they said. They also warned that “prices are not going to drop” in the coming months.
Global wine and champagne consumption fell in 2022. The cause would be rising bottle prices and the purchasing power drop derived from the inflationindicated this Thursday the International Organization of Vine and Wine (OIV).
World consumption in 2022 was about 232 million hectoliters, 1% less than the previous year, according to the OIV. Behind the recovery of the year 2021due to the progressive lifting of anticovid restrictions, “the war in Ukraine and the associated energy crisis, along with disruptions in the global supply chainthey caused a increase in production and distribution costs”they indicated
World inflation meanwhile remains high, “and wine prices are not going to come down” in the coming months, the general director of the organization, the Spanish Pau Roca, warned at a press conference. However, wine exports broke a new record in value in 2022despite the logistical difficulties, which volumes shipped were reduced by 5%, to 107 million hectoliters.
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Under the effect of a 15% rise in the average price of bottlesexports last year reached €37.6 billion“the highest figure ever recorded” according to the OIV. “Consumption has changed significantly: red wines are losing market shareswhile other categories such as sparkling wine or rosé are gaining ground”, explained Pau Roca.high-end wines, consumed by a wealthy clientele, resist difficulties.
Italy, France and Spain produced more than half of the world volume of wine in 2022, a year in which global production, estimated at 258 million hectoliters, fell by just 1% compared to 2021. “This is due to a higher than expected crop volume in Europe, despite the drought and heat waves during spring and summer, and at the average production level recorded in the southern hemisphere,” the organization explained.
Generally, wine consumption is declining “at a regular pace” since 2018, dragged down by a constant decrease in Chinese consumption, which only in 2022 fell by 16%. ANDThe United States, for its part, continues to be “the largest consumer in the world” and the first importer, pointed out Pau Roca.
Source: Ambito
