Global Wine Production Plummets

This is a news story, published by CNBC, that relates primarily to Michel Doukeris news.

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World Wine Production Outlook

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Global wine consumption

CNBC

•

Business

Business & Economics

Wine consumption is changing. The industry hopes new trends will help it survive

Summary

Nutrition label

88% Informative

Global wine production is expected to have slipped around 2% to hit its lowest levels since 1961 .

Organic and orange wines, non-alcoholic options and high-end fine wines are all seeing increased demand.

Climate issues and adverse weather events played a big part in this drop, according to the International Organization of Wine and Vine's 2024 World Wine Production Outlook.

Younger generations spearheading growth in low and no-alcohol wines.

Michel Doukeris , CEO of the world's largest brewer AB InBev , said alcohol-free options were enabling people to continue to socialize.

The organization expects the market to grow at a compound growth rate of around 12% between 2023 and 2027 , compared to 2% for beer and cider.

VR Score

Informative language

Neutral language

Article tone

informal

Language

English

Language complexity

Offensive language