Global wine production is anticipated to reach its lowest level this year since 1961, according to the International Organisation of Vine and Wine (OIV).
Data collated by the OIV from 29 countries, representing 85% of global production, estimates output will reach between 227 million hectolitres (mhl) and 235 mhl in 2024. That level would mark a 2% decline from 2023 and a 13% drop from the ten-year average.
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“Globally, 2024 appears to be a re-run of 2023 with a range of weather events affecting wine production volumes around the globe, exacerbated by economic and market circumstances,” OIV said.
Extreme weather events, such as early frosts, heavy rainfall, and prolonged droughts, have been key influences on global production.
France, the largest producer in 2023, experienced the “largest fall in production”, the OIV said. The country’s production is expected to be 36.9mhl in 2024, a 23% decrease from 2023 and 16% below its five-year average. As a consequence, France is projected to see its lowest wine production the historically low 36.6mhl in 2017.
Italy is estimated to be the largest wine producer in 2024, with 41mhl, a 7% increase from 2023, although that remains 13% below the five-year average.
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By GlobalDataSpain, the third-largest wine producer in the EU is expected to see a production of 33.6 mhl, an 18% rise from 2023 but still 4% below the five-year average.
Other EU countries such as Hungary, Greece, Slovenia, Croatia, and Slovakia have shown growth compared with 2023.
Hungary is expected to produce 3mhl, a 22% increase from the previous year, with production surpassing its five-year average by 19%, marking its “highest” output since 2010.
In the US, the fourth-largest wine producer globally, 2024’s output is estimated at 23.6mhl, 3% lower than 2023 and 1% below the five-year average.
In the Southern Hemisphere, 2024 production is estimated at 46mhl, a 2% decrease from 2023 and 12% below the five-year average.
Argentina is forecasted to produce 10.9mhl in 2024, a 23% increase from 2023, yet 4% below the five-year average.
South Africa’s production is projected at 8.8mhl, a 5% decline from 2023 and 13% under the five-year average.
Australia’s production is estimated at 10.2mhl, a 5% increase from 2023 but 16% below the five-year average, with challenges from excessive rainfall and inventory pressures.
New Zealand’s production is forecasted at 2.8mhl, a 21% decline from 2023 and 13% below the five-year average, primarily due to frost damage in Marlborough during the critical flowering period.
