Global wine market contracts in 2025 as US imports plunge and Argentine exports surge

The International Organisation of Vine and Wine reported that worldwide wine consumption fell 2.7% in 2025 to about 208 million hectolitres, the lowest level since 1957 and a 14% drop since 2018. The decline was broad‑based, affecting nine of the ten largest markets. The United States, the world’s biggest wine market, saw consumption drop 4.3% to 31.9 million hl and, in the first quarter of 2026, its wine imports fell 32.1% in value and 20.6% in volume compared with the same period a year earlier. Other major markets also weakened: France (‑3.2%), Italy (‑9.4%), Germany (‑4.3%) and China (‑13%). A few regions recorded growth, notably Portugal (+5.6%), Brazil (+41.9%) and Japan (+6.8%).

The OIV attributed the downturn to new tariff policies, extreme weather events and shifting consumer preferences toward lower‑alcohol beverages and higher‑priced alternatives. Despite the overall softness, Argentina’s wine sector posted a strong rebound in early 2026. In April, Argentine wine exports rose 21.9% year‑on‑year to 20.5 million litres, led by a surge in bulk white wine, and the first‑quarter total was up 17% with revenues of about US$250 million. The United Kingdom, the United States, Brazil, Canada and Mexico were the main destinations.

These mixed trends highlight a fragmented global wine market, where consumption is contracting in traditional strongholds while select exporters capitalize on niche demand and product‑format shifts.