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

share-iconSaturday, January 11 comment-icon1 week ago 6 views
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Global Wine Industry Faces Challenges but Experts Urge Patience Amid Consumption Decline

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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Gloria Terra

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