World's Wine Market to Reach 33 Billion Litres Valued at $188 Billion by 2035

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The global wine market is experiencing sustained growth, with consumption reaching 29 billion liters in 2024, valued at $142.4 billion, and is forecast to expand to 33 billion liters ($188.2 billion) by 2035. The Netherlands, United States, and Italy are the top consuming countries by volume, while the US, France, and the Netherlands lead in market value. Production is concentrated in Italy, Spain, and France, which together account for 50% of global output. International trade is significant, with the Netherlands being the largest importer and France the highest-value exporter. Still wine dominates both imports and exports, but sparkling wine is growing at a faster rate, commanding a premium price in the market.

Key Findings

• Global wine market volume is projected to grow from 29B litres in 2024 to 33B litres by 2035, while market value is set to increase to $188.2B
• The Netherlands, United States and Italy were the top three consuming countries by volume in 2024, while the US, France and the Netherlands led in market value
• Italy, Spain and France dominated global wine production, accounting for 50% of the world's total output
• The Netherlands was the largest importer by volume, while the United States was the top importer by value
• Sparkling wine is the fastest-growing category in both imports and exports, commanding a significantly higher price per litre than still wine

Market Forecast

Driven by increasing demand for wine worldwide, the market is expected to continue an upward consumption trend over the next decade. Market performance is forecast to retain its current trend pattern, expanding with an anticipated CAGR of +1.1% for the period from 2024 to 2035, which is projected to bring the market volume to 33B litres by the end of 2035.

In value terms, the market is forecast to increase with an anticipated CAGR of +2.6% for the period from 2024 to 2035, which is projected to bring the market value to $188.2B (in nominal wholesale prices) by the end of 2035.

Consumption

World's Consumption of Wine

In 2024, consumption of wine increased by 3.1% to 29B litres, rising for the fourth consecutive year after two years of decline. The total consumption volume increased at an average annual rate of +1.1% over the period from 2013 to 2024; the trend pattern remained consistent, with only minor fluctuations being observed in certain years. Global consumption peaked in 2024 and is likely to continue growth in the immediate term.

The global wine market revenue skyrocketed to $142.4B in 2024, growing by 34% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, the total consumption indicated a prominent expansion from 2013 to 2024: its value increased at an average annual rate of +5.4% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, consumption increased by +89.1% against 2020 indices. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Consumption By Country

The countries with the highest volumes of consumption in 2024 were the Netherlands (3.7B litres), the United States (3.2B litres) and Italy (3.1B litres), with a combined 34% share of global consumption.

From 2013 to 2024, the most notable rate of growth in terms of consumption, amongst the main consuming countries, was attained by the Netherlands (with a CAGR of +8.0%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, the largest wine markets worldwide were the United States ($34.1B), France ($24.4B) and the Netherlands ($14.9B), with a combined 52% share of the global market. Italy, China, Spain, the UK, Argentina, Germany and Australia lagged somewhat behind, together comprising a further 29%.

Italy, with a CAGR of +15.2%, recorded the highest growth rate of market size among the main consuming countries over the period under review, while market for the other global leaders experienced more modest paces of growth.

In 2024, the highest levels of wine per capita consumption was registered in the Netherlands (212 litres per person), followed by Spain (56 litres per person), Italy (52 litres per person) and France (42 litres per person), while the world average per capita consumption of wine was estimated at 3.6 litres per person.

From 2013 to 2024, the average annual rate of growth in terms of the wine per capita consumption in the Netherlands stood at +7.5%. In the other countries, the average annual rates were as follows: Spain (+3.4% per year) and Italy (+6.4% per year).

Production

World's Production of Wine

In 2024, the amount of wine produced worldwide rose to 26B litres, picking up by 1.5% compared with the previous year's figure. Over the period under review, production showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 with an increase of 6.2% against the previous year. As a result, production reached the peak volume of 27B litres. From 2019 to 2024, global production growth remained at a lower figure.

In value terms, wine production skyrocketed to $148B in 2024 estimated in export price. In general, the total production indicated a moderate expansion from 2013 to 2024: its value increased at an average annual rate of +2.8% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2014 when the production volume increased by 37% against the previous year. Global production peaked at $214B in 2018; however, from 2019 to 2024, production stood at a somewhat lower figure.

Production By Country

The countries with the highest volumes of production in 2024 were Italy (5B litres), Spain (4.5B litres) and France (3.7B litres), together accounting for 50% of global production. The United States, China, Australia, Chile, Argentina, South Africa and Germany lagged somewhat behind, together comprising a further 35%.

From 2013 to 2024, the biggest increases were recorded for Germany (with a CAGR of +5.4%), while production for the other global leaders experienced more modest paces of growth.

Imports

World's Imports of Wine

For the sixth year in a row, the global market recorded growth in supplies from abroad of wine, which increased by 5.7% to 13B litres in 2024. The total import volume increased at an average annual rate of +1.3% over the period from 2013 to 2024; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2022 when imports increased by 18% against the previous year. Over the period under review, global imports attained the peak figure in 2024 and are likely to see steady growth in years to come.

In value terms, wine imports reduced modestly to $39.7B in 2024. The total import value increased at an average annual rate of +1.1% from 2013 to 2024; however, the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. The pace of growth appeared the most rapid in 2021 when imports increased by 18%. As a result, imports reached the peak of $40.8B. From 2022 to 2024, the growth of global imports remained at a somewhat lower figure.

Imports By Country

The Netherlands represented the key importing country with an import of around 3.8B litres, which resulted at 29% of total imports. It was distantly followed by the United States (1.4B litres), Germany (1.3B litres) and the UK (1.1B litres), together making up a 28% share of total imports. France (540M litres), Belgium (447M litres), Canada (368M litres), Russia (303M litres), China (283M litres) and Italy (245M litres) took a minor share of total imports.

The Netherlands was also the fastest-growing in terms of the wine imports, with a CAGR of +8.1% from 2013 to 2024. At the same time, Belgium (+2.4%) and the United States (+2.0%) displayed positive paces of growth. France, Canada and Italy experienced a relatively flat trend pattern. By contrast, Germany (-1.6%), the UK (-2.1%), China (-2.5%) and Russia (-3.4%) illustrated a downward trend over the same period. The Netherlands (+15 p.p.) significantly strengthened its position in terms of the global imports, while Russia, Germany and the UK saw its share reduced by -1.6%, -3.6% and -3.8% from 2013 to 2024, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest wine importing markets worldwide were the United States ($6.8B), the UK ($5B) and Germany ($2.8B), together comprising 37% of global imports. Canada, the Netherlands, China, Belgium, France, Russia and Italy lagged somewhat behind, together accounting for a further 23%.

Among the main importing countries, Italy, with a CAGR of +3.8%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Imports By Type

In 2024, wine of fresh grapes (except sparkling wine) (12B litres) represented the key type of wine, committing 90% of total imports. It was distantly followed by sparkling wine (1.4B litres), committing a 10% share of total imports.

Imports of wine of fresh grapes (except sparkling wine) increased at an average annual rate of +1.0% from 2013 to 2024. At the same time, sparkling wine (+4.6%) displayed positive paces of growth. Moreover, sparkling wine emerged as the fastest-growing type imported in the world, with a CAGR of +4.6% from 2013-2024. While the share of sparkling wine (+3.1 p.p.) increased significantly in terms of the global imports from 2013-2024, the share of wine of fresh grapes (except sparkling wine) (-3.1 p.p.) displayed negative dynamics.

In value terms, wine of fresh grapes (except sparkling wine) ($30.5B) constitutes the largest type of wine imported worldwide, comprising 77% of global imports. The second position in the ranking was taken by sparkling wine ($9.2B), with a 23% share of global imports.

From 2013 to 2024, the average annual rate of growth in terms of the value of wine of fresh grapes (except sparkling wine) imports was relatively modest.

Import Prices By Type

The average wine import price stood at $3 per litre in 2024, with a decrease of -7% against the previous year. Over the period under review, the import price showed a relatively flat trend pattern. The growth pace was the most rapid in 2021 an increase of 16%. As a result, import price reached the peak level of $3.9 per litre. From 2022 to 2024, the average import prices remained at a somewhat lower figure.

Prices varied noticeably by the product type; the product with the highest price was sparkling wine ($6.7 per litre), while the price for wine of fresh grapes (except sparkling wine) stood at $2.6 per litre.

From 2013 to 2024, the most notable rate of growth in terms of prices was attained by sparkling wine (-0.1%).

Import Prices By Country

The average wine import price stood at $3 per litre in 2024, reducing by -7% against the previous year. In general, the import price showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when the average import price increased by 16%. As a result, import price reached the peak level of $3.9 per litre. From 2022 to 2024, the average import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2024, amid the top importers, the country with the highest price was China ($5.6 per litre), while the Netherlands ($437 per thousand litres) was amongst the lowest.

From 2013 to 2024, the most notable rate of growth in terms of prices was attained by Italy (+4.1%), while the other global leaders experienced more modest paces of growth.

Exports

World's Exports of Wine

In 2024, shipments abroad of wine was finally on the rise to reach 10B litres after two years of decline. Overall, exports, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2021 when exports increased by 5.8% against the previous year. Over the period under review, the global exports attained the maximum at 11B litres in 2018; however, from 2019 to 2024, the exports stood at a somewhat lower figure.

In value terms, wine exports shrank slightly to $40.1B in 2024. The total export value increased at an average annual rate of +1.3% from 2013 to 2024; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. The pace of growth was the most pronounced in 2021 when exports increased by 19%. As a result, the exports attained the peak of $40.8B. From 2022 to 2024, the growth of the global exports remained at a somewhat lower figure.

Exports By Country

In 2024, Italy (2.1B litres), Spain (2B litres) and France (1.3B litres) was the main exporter of wine in the world, committing 53% of total export. Chile (772M litres) took a 7.6% share (based on physical terms) of total exports, which put it in second place, followed by Australia (6.5%). The following exporters - Portugal (347M litres), Germany (317M litres), South Africa (302M litres), New Zealand (267M litres) and the United States (239M litres) - together made up 15% of total exports.

From 2013 to 2024, the biggest increases were recorded for New Zealand (with a CAGR of +6.4%), while shipments for the other global leaders experienced more modest paces of growth.

In value terms, France ($13.2B), Italy ($9.1B) and Spain ($3.4B) appeared to be the countries with the highest levels of exports in 2024, with a combined 64% share of global exports.

Italy, with a CAGR of +2.9%, saw the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Exports By Type

Wine of fresh grapes (except sparkling wine) represented the main type of wine in the world, with the volume of exports recording 9B litres, which was approx. 89% of total exports in 2024. It was distantly followed by sparkling wine (1.1B litres), achieving an 11% share of total exports.

Wine of fresh grapes (except sparkling wine) experienced a relatively flat trend pattern with regard to volume of exports. At the same time, sparkling wine (+4.4%) displayed positive paces of growth. Moreover, sparkling wine emerged as the fastest-growing type exported in the world, with a CAGR of +4.4% from 2013-2024. Sparkling wine (+4.4 p.p.) significantly strengthened its position in terms of the global exports, while wine of fresh grapes (except sparkling wine) saw its share reduced by -4.4% from 2013 to 2024, respectively.

In value terms, wine of fresh grapes (except sparkling wine) ($30.5B) remains the largest type of wine supplied worldwide, comprising 76% of global exports. The second position in the ranking was held by sparkling wine ($9.5B), with a 24% share of global exports.

From 2013 to 2024, the average annual growth rate of the value of wine of fresh grapes (except sparkling wine) exports was relatively modest.

Export Prices By Type

The average wine export price stood at $4 per litre in 2024, waning by -2.2% against the previous year. Over the last eleven years, it increased at an average annual rate of +1.6%. The pace of growth appeared the most rapid in 2021 when the average export price increased by 13% against the previous year. The global export price peaked at $4 per litre in 2023, and then shrank in the following year.

Prices varied noticeably by the product type; the product with the highest price was sparkling wine ($8.4 per litre), while the average price for exports of wine of fresh grapes (except sparkling wine) amounted to $3.4 per litre.

From 2013 to 2024, the most notable rate of growth in terms of prices was attained by wine of fresh grapes (+1.3%).

Export Prices By Country

The average wine export price stood at $4 per litre in 2024, shrinking by -2.2% against the previous year. Over the last eleven-year period, it increased at an average annual rate of +1.6%. The most prominent rate of growth was recorded in 2021 when the average export price increased by 13% against the previous year. The global export price peaked at $4 per litre in 2023, and then contracted in the following year.

There were significant differences in the average prices amongst the major exporting countries. In 2024, amid the top suppliers, the country with the highest price was France ($10 per litre), while Spain ($1.7 per litre) was amongst the lowest.

From 2013 to 2024, the most notable rate of growth in terms of prices was attained by France (+3.5%), while the other global leaders experienced more modest paces of growth.