State of the International Wine Markets in 2024

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.