Global Wine Consumption Falls to a 68-Year Low

Global wine consumption fell to 208 million hectoliters in 2025, the lowest level since 1957, but sparkling wine continued to hold an outsized share of the market’s value, underscoring a widening divide between bubbles and still wine. New industry data show that sparkling wine accounted for 11% of global trade volume in 2025 but 24% of trade value, while the broader wine trade slipped to €33.8 billion in value and 94.8 million hectoliters in volume. The figures come as producers across Europe and beyond are confronting weaker demand for mainstream still wines, especially in lower price tiers, and a consumer shift toward moderation that has hit habitual drinking occasions.

Within sparkling wine, Prosecco and Champagne have emerged as two different kinds of winners. Prosecco has been the volume leader. The Prosecco DOC Consortium said sales reached 660 million bottles in 2024, with estimated consumer turnover of €3.6 billion, and that 82% of those bottles were exported. The consortium said bottlings rose to 667 million bottles in 2025, up 1.1% from the previous year. Champagne has been the value leader. Comité Champagne reported shipments of 271.7 million bottles in 2024 and 266.1 million in 2025, with sales ex-tax of €5.8 billion in 2024 and €5.7 billion in 2025. That works out to an average ex-cellar value of about €21.3 to €21.4 a bottle, far above Prosecco’s implied consumer-turnover basis of about €5.45 a bottle.

The contrast is even sharper when measured against still wine. Industry analysts say there is no single global category for “mid-priced still red and white wines,” so the closest proxies come from IWSR’s standard and core-premium bands, WSWA SipSource’s U.S. table-wine tiers and Treasury Wine Estates’ below-$15 portfolio. Those sources point in the same direction: U.S. still wine is forecast by IWSR to decline at a -3% compound annual rate through 2027; the U.S. $8.00 to $10.99 table-wine tier fell -12.7% in the latest SipSource reading; and Treasury Wine Estates reported weakness tied to below-$15 consumption softness in Australia and Britain.

The structural reasons are familiar but increasingly severe. IWSR says moderation is now widespread, especially among younger legal-drinking-age consumers, and that lower-priced wines are losing volume while sparkling, premium rosé and organic wines are taking more occasion-based spending. In the United States and Britain, wine drinkers have not disappeared, but they are drinking less often and less heavily. That has hurt still wine more than sparkling because still wine depends more on routine consumption, while sparkling is tied to celebrations, aperitivo culture and casual social occasions.

Prosecco has benefited from that shift because it sits at an accessible price point and fits off-trade retail, export growth and cocktail culture. Henkell Freixenet, which owns Mionetto, said its 2024 growth was driven by double-digit Prosecco gains, including Mionetto’s +15.7%, and linked that performance to aperitivo trends, Spritz consumption and interest in lower-alcohol sparkling drinks. The company also pointed to tourism investments around its Italian holdings, including a new visitor center and acquisitions in Valdobbiadene.

Champagne’s resilience comes from a different model: scarcity, brand equity and supply control. Comité Champagne said its reserve system held the equivalent of 261 million bottles in 2024, or 87% of a year’s harvest on a three-year-average basis. The reserve helps smooth climate shocks and maintain blend consistency. The committee also said Champagne’s designation is recognized in 122 countries and that it spends about €19 million a year on promotion, reputation-building and legal protection.

The financial picture reflects those differences. Laurent-Perrier reported €282.9 million in Champagne sales for FY2024/25, operating profit of €74.4 million and an operating margin of 26.3% on Champagne sales. LVMH said its Wines & Spirits division generated €5.862 billion in revenue and €1.356 billion in recurring operating profit in 2024, with its Champagne houses still accounting for more than 22% of all Champagne-appellation shipments.

By contrast, mid-priced still wine is under pressure on margins as well as volume. Treasury Wine Estates said its Treasury Premium Brands division saw its EBITS margin fall from 10.3% in FY2024 to 7.9% in FY2025, citing declines in premium and commercial portfolios tied to softer below-$15 demand. The company also moved to reshape its supply footprint by closing its commercial Karadoc winery in Victoria. Elsewhere in the sector, Accolade Wines underwent recapitalization, while Pernod Ricard sold its strategic international wine portfolio to Australian Wine Holdco, creating Vinarchy.

Regional data show where the strain is most visible. In the European Union, Prosecco exports remain strong overall even though exact EU-excluding-UK figures were not published in the sources reviewed; France and Germany were among the strongest named markets in 2025. Champagne shipped 50 million bottles to the EU in 2024 outside France itself, equal to 18.4% of total shipments. In Britain, Prosecco remained the second-largest market in 2025 after importing about 130 million bottles in 2022, while Champagne shipped 22.3 million bottles worth €519 million there in 2024.

The United States remains central for both categories but for different reasons: it was Prosecco’s leading export market in January through September 2025 at 23.8% of exports, while also being Champagne’s top export market at 27.4 million bottles worth €820 million in 2024. For still wine, however, the U.S. market remains weak at the middle price points even though it still accounts for most domestic wine volume.

China has become another fault line for still wine rather than a source of relief for it. China’s total wine consumption fell from 5.3 million hectoliters in 2024 to 4.8 million hectoliters in 2025, one of the steepest declines among major markets reviewed by OIV-linked data cited by industry analysts. Champagne did not list China among its top-ten export markets for 2024, suggesting demand there was smaller than some other destinations such as the United Arab Emirates.

The outlook through 2035 depends on how producers respond to five pressures: tariffs, climate volatility, moderation, tax complexity and channel rationalization. OIV has warned that tariffs and climate are reshaping the sector; Prosecco producers have flagged transport and raw-material costs; Champagne houses have pointed to inflation and geopolitical uncertainty; and IWSR expects continued pressure from no- and low-alcohol drinks as well as ready-to-drink cocktails.

Even so, the broad economic pattern appears set: sparkling wine is likely to keep taking share from mainstream still wine rather than replacing it entirely or lifting all categories together at once.