Wine market 2024: global consumption, consumer trends and Italian data

Wine consumption is a key indicator of cultural preferences, economic trends, and social change. Italy remains one of the undisputed leaders of the global wine market — but to understand Italy’s position, you first need to read the global picture. In this article we analyze consumption trends by continent, the evolution of preferences from 2000 to today, and the most recent data on the Italian market, with forecasts for 2024.

Global market: where wine is consumed in 2024

According to the International Organisation of Vine and Wine (OIV), global wine consumption in 2023 reached approximately 234 million hectoliters, with significant variation across regions. The past decade has brought profound change: traditionally wine-drinking regions like Europe are recording a slight decline, while emerging markets in Asia and North America show steady growth.

Europe

Europe still has the highest per-capita wine consumption in the world, but major markets — France, Italy, Spain — are experiencing a decline driven by demographic shifts, healthier lifestyles, and lower generational transmission of wine drinking habits.

Asia

The Asian market, particularly China, experienced exponential growth in wine consumption during the 2010–2020 decade. Growth has slowed in recent years, but interest in high-quality and structured red wines remains high. Japan and South Korea are emerging as sophisticated markets for premium wines and sparkling varieties.

North America

Wine consumption in the United States is growing steadily, with increasing demand for organic and sustainable wines. Canada has also seen a rise in consumption, driven by growing interest in local and natural wines.

Emerging markets

Countries like India and Brazil are positioning themselves as new protagonists in global wine consumption. Rising disposable income and increasing urbanization are fueling demand for premium products, including wine.

How consumer preferences have shifted from 2000 to 2024

Over the past 25 years, the wine world has seen a transformation in consumer preferences that goes well beyond shifts in market share.

Grape varieties: tradition vs. new profiles

Classic varieties like Cabernet Sauvignon and Merlot continue to dominate the market but are losing ground to more elegant styles. Pinot Noir has recorded steady growth thanks to its refined aromatic profile and increasing demand for lighter wines. Among whites, Chardonnay maintains its leadership but faces competition from lesser-known varieties like Viognier and Albariño, appreciated for their fresh aromatic profiles.

The rise of natural and sustainable wines

New trends — natural, organic, and vegan wines with minimal sulfites — are profoundly influencing consumer choices. More and more people are choosing wines produced using sustainable methods with reduced environmental impact, favoring less manipulated products and more traditional winemaking. Orange wines and natural sparkling wines (Pet Nat) are finding a growing audience among younger consumers drawn to their authenticity and uniqueness.

Market polarization

One of the most marked trends of recent years is market polarization: consumers are shifting toward the premium end (quality and experiential wines) or toward accessible value options, while the mid-tier segment is squeezed from both sides. Italian 2023 data confirms this dynamic clearly.

The Italian wine market in 2024: sales, exports and top players

The study conducted by Mediobanca’s Research Department on the Italian wine sector for 2024 provides solid data on this evolution.

Growing sales and exports

According to the study, wine sales in Italy are expected to increase by +2.6% in 2024. Exports will play a key role, with a projected increase of +3%. Sparkling wines in particular remain a strength of the Italian market, with revenues up +3.7% and further export expansion of +6.8%.

Volume decline but premium growth

Despite overall sales growth in value terms, 2023 recorded a decline in volumes sold (-4.5%). The ultra-premium segment, by contrast, grew by +12.7%, confirming the polarization trend. The mid-tier segment suffers most (-10.1%), while the low-end segment also loses share (-1.7%).

Wine tourism growth and the sustainability challenge

Wine tourism has become a significant growth driver: sector revenues increased +15% in 2023, signaling growing consumer interest in direct cellar and vineyard experiences. However, only 35% of Italian wine companies have published a sustainability report — a gap compared to the expectations of international export markets that are increasingly demanding green credentials.

Performance of major Italian wine companies

In 2023, Cantine Riunite-GIV maintained its leadership with revenues of €670.6 million (-3.4% vs. 2022). Argea followed in second place with €449.5 million (-1.2%), and IWB ranked third with €429.1 million (-0.3%).

Data tables

Forecasted sales and exports for 2024

Category	Sales Growth	Export Growth
Total sales	+2.6%	+3%
Sparkling wines	+3.7%	+6.8%
Still wines	+2.3%	+2.2%

Price range performance in 2023

Price Range	Growth/Decline	Market Share
Low-end wines	-1.7%	44.2%
Mid-tier wines	-10.1%	N/A
Ultra-premium wines	+12.7%	18.6%

Performance of major Italian wine companies in 2023

Company	2023 Revenue (€ mln)	Growth/Decline
Cantine Riunite-GIV	670.6	-3.4%
Argea	449.5	-1.2%
IWB	429.1	-0.3%
Caviro	423.1	+1.4%

Digitalization and AI: the future of the sector

Digitalization is transforming every aspect of the wine industry: from AI applied to viticulture to e-commerce platforms, from blockchain for denomination traceability to personalized pairing apps. Online wine sales, which surged in the post-pandemic period, will continue expanding, opening the market to new demographic and geographic segments.

Conclusion

The global and Italian wine market is in full transition: volumes grow in emerging markets, preferences polarize toward premium and natural segments, and Italy defends its export leadership primarily through sparkling wines. The challenge for Italian producers is twofold — capitalizing on their premium positioning and accelerating on sustainability, which is increasingly becoming a prerequisite for access to international markets.