Key insights
- Global wine trade declined in 2025 due to US tariffs and falling consumption. US tariffs imposed in 2025 contributed to a 4.7% drop in export volume and a 6.7% drop in export value. Consumption also fell to its lowest level since 1957. While the direct impact on US equities is limited, it signals potential trade friction and slowing global demand, which could negatively affect related sectors and overall market sentiment.
By Gus Trompiz
PARIS, May 12 (Reuters) - U.S. tariffs contributed to a further decline in global wine trade last year while consumption remained at its lowest in over 60 years as economic pressures and changing tastes continued to deter drinkers, international wine body OIV said on Tuesday.
Tariffs imposed by the United States, the world’s largest wine market, by President Donald Trump since last year have added to difficulties for a sector grappling with a harsher climate and waning demand.
Global wine exports in 2025 fell by 4.7% in volume to 94.8 million hectolitres, the lowest since 2009, while in value terms exports dropped by 6.7% to 33.8 billion euros ($39.67 billion), the International Organisation of Vine and Wine, known as the OIV, said.
Wine consumption slipped by 2.7% globally to 208 million hectolitres, the lowest since 1957.
"What we can see in the 2025 data is a sector that’s reacting to real-time impacts of U.S. tariff policies, but also adapting to some longer-term changes in terms of climate and consumption," OIV Director General John Barker told Reuters.
Exports and consumption had already recorded in 2024 their lowest levels since 2010 and 1961, respectively.
OIV did not yet have clear indications on the possible impact of the Iran war on the sector, but would expect some effect due to consequences for consumer sentiment and shipping, Barker said.
The sector was adapting by focusing more on wine tourism and sustainability while also developing lower-alcohol products, he said.
The OIV was in talks to establish a customs code for low-alcohol and alcohol-free wine to be able to track trade in the category that currently represents about 1 to 2% of global production, he added.
Global wine output in 2025 reached 227 million hectolitres, below the OIV’s initial estimate of 232 million hectolitres from November and only 0.6% above the 2024 level that was the lowest since 1961.
In addition to widespread weather losses, production has been curbed by uprooting of vines in countries like France in response to declining demand.
($1 = 0.8519 euro)