About the report

The global wine supply monitor offers a snapshot of global wine production, including historical volumes for the top eight producing countries, as well as analysis on this year’s vintage.

Updated annually, statistics include:

• wine production in litres for the last five years for the top eight producing countries
• current or upcoming vintage volume predictions
• summaries of harvests in both the Northern and Southern Hemispheres

Global wine consumption figures are also included and an analysis of supply and demand.

Countries included in the report:

• Italy
• France
• Spain
• United States
• Argentina
• Chile
• Australia
• South Africa

Report summary - April 2024

World wine production in 2023 was the lowest since 1961 at 23.7 billion litres, according to the OIV State of the World Vine and Wine Sector in 2023 report. Despite this, production still exceeded consumption, which has been declining steadily since 2018 and reached its lowest level since 1996. 

The low production was driven by various climatic challenges across both the northern and southern hemispheres, affecting most major wine-producing countries. France was the world's leading wine producer in 2023. It produced an above-average harvest despite losses due to disease pressure in some regions including Bordeaux. Italy had its smallest crop since 1950, after a growing season that included heavy rainfall, flooding and hailstorms, resulting in widespread mildew issues. Spain also had a well-below average harvest overall, with yields reduced by severe drought and extreme temperatures during the growing season. The USA harvest was in line with its five-year average and 8.5 per cent above the 2022 vintage, following a season with favourable conditions including cool temperatures and heavy winter rainfall.

In the southern hemisphere, Australia experienced its lowest vintage in 20 years due to a combination of rain, cool temperatures and disease pressures, as well as some uncontracted fruit not being harvested. New Zealand reported a slightly smaller intake than the record 2022 crush, but still above the five-year average despite challenging conditions. The harvest in Chile was down by 11 per cent compared with 2022 as a result of significant wildfires, drought and flooding. However, it was still the largest vintage in South America, with Argentina recording its lowest harvest since 1957, primarily due to spring frosts and hailstorms. South Africa also had a below-average crop, heavily impacted by fungal diseases.

The decline in consumption was largely driven by the decrease in China’s consumption, as well as global factors including inflationary pressures, supply chain disruptions, geopolitical tensions and a prevailing moderation trend in many of the larger wine markets.

Sources

This report is compiled from production data reported by the International Organisation of Vine and Wine (OIV), as well other sources including IWSR and Ciatti Wine Brokers.