Global Wine Industry Faces Challenges but Experts Urge Patience Amid Consumption Decline

World News

1 year ago

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Credited from: SCMP

Worldwide wine consumption has reached the lowest levels since 1996, with significant declines noted in countries like China and France.
Health trends and shifts in drinking culture, including a rise in moderation and cocktail popularity, are impacting wine sales.
Global wine production has also dropped, with 2023 levels at the lowest since 1961, attributed to climate change impacts like droughts and extreme weather.
In China, wine consumption has decreased dramatically, jeopardizing its position as a major market despite its large vineyard acreage.
Experts recommend a long-term perspective, suggesting the wine industry's history implies resilience amidst current challenges.

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