Global wine trade fell in 2025 as tariffs and weak demand hit shipments

The global wine trade weakened in 2025 as tariff uncertainty in the United States, softer demand in several major markets and currency swings weighed on shipments and prices, according to the International Organisation of Vine and Wine, which released its annual report Tuesday.

World wine exports fell 4.7% in volume to 94.8 million hectoliters, extending a decline that began in 2022. Export value dropped 6.7% from 2024 to an estimated 33.8 billion euros, while the average export price slipped 2.1% to 3.56 euros a liter. The OIV said the price decline reflected easing inflation but also stronger competition among exporters as weaker demand and new trade barriers forced producers to defend market share.

The report said the downturn was broad-based, with 10 of the world’s top 12 exporters posting lower volumes. Portugal and New Zealand were the main exceptions, both increasing export volumes in 2025.

Bottled wine remained the largest segment of global trade, accounting for 51.1% of volume and 66.4% of value, but it also posted one of the sharpest declines, with volume down 5.7% and value down 8.9%. Sparkling wine fell more modestly, with volume down 2.7% and value down 6.1%. Bulk wine, which makes up a large share of traded volume but a much smaller share of value, declined 3.8% in volume and 5.3% in value.

Among major exporters, Italy shipped 21 million hectoliters, down 2%, with export value falling 3.4% to 7.8 billion euros. France remained the world’s largest exporter by value even as its shipments fell to 12.5 million hectoliters and export value declined to 11.2 billion euros. Spain’s exports slipped to 19.6 million hectoliters and 3 billion euros in value. Chile, Australia, South Africa and Germany also recorded declines.

The United States was hit hard on the export side as well, with shipments falling to 2 million hectoliters and export value dropping to 800 million euros. Canada saw an even steeper fall in exports after trade tensions with the U.S. disrupted flows.

On the import side, demand softened across most major markets as consumers faced economic uncertainty and, in some cases, policy changes that altered trade conditions.

The United States remained the world’s largest wine importer by value in 2025 even as imports fell to 12 million hectoliters and import value dropped 11.6% to 5.5 billion euros. The OIV said tariff-related tensions weighed heavily on trade flows there. Bottled wine continued to dominate U.S. imports by both volume and value, but it also recorded the largest contraction.

The United Kingdom imported 11.9 million hectoliters, down 6%, while import value fell to 4.3 billion euros after the introduction of an ABV-based duty reform in February that particularly affected higher-alcohol wines.

Germany was one of the few large markets where import value rose even as volume edged lower. Imports totaled 12.9 million hectoliters, down 0.6%, but value increased 4% to 2.6 billion euros as bottled wine and bag-in-box wines gained ground.

France imported less wine overall but remained a major market, while Canada’s imports declined after U.S.-Canada trade tensions reduced shipments from American suppliers. China’s imports fell sharply to 2.1 million hectoliters as bottled wine demand weakened and Australian wines regained ground after tariffs were removed in March 2024.

The OIV said the pattern across both exports and imports pointed to a market under pressure from slower consumption, policy shifts and tighter competition among producers trying to hold their positions in key destinations such as the U.S., Britain and China.