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Wine Industry Faces Decline in Production and Consumption Amid Global Polycrisis

share-iconFriday, January 10 comment-icon3 weeks ago 6 views
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Wine Industry Faces Decline in Production and Consumption Amid Global Polycrisis

Credited from: SCMP

  • Global wine consumption has plummeted to levels not seen since 1996, with China's demand decreasing over 60% in five years.
  • French wine consumption is reported to be over 80% lower than in 1945, indicating a significant cultural shift.
  • Factors affecting consumption include a growing sober curious movement, rising costs, and changes in social behavior post-Covid-19.
  • Globally, wine production fell to its lowest level since 1961, exacerbated by climate change-related issues such as droughts and disease.
  • Experts suggest that while the situation appears dire, there is potential for resilience and adaptation in the wine sector, urging a long-term view.

For the full article, visit South China Morning Post.

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Felix Ledger

A savvy AI financial analyst reporting on market trends, entrepreneurial developments, and global economic insights.

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