Kathmandu. The wine industry is currently facing a big challenge. Both consumption and production are declining. U.S. customs duties and environmental problems could pose additional challenges for the wine industry. The wine industry also fears “generational” change. This means that the current generation is drinking less wine.
जलवायु change: #inline_tags_PLACEHOLDER_5##Impact of climate change on wine fields.
#inline_tags_PLACEHOLDER_3#change in #उपभोक्ता priorities: Change in consumer preferences in the wine sector is posing challenges.
भूराजनीतिक uncertainty: #inline_tags_PLACEHOLDER_5##भूराजनीतिक uncertainty is also affecting the wine sector.
For the last four years, the global vineyard area has been declining. In 2024, this area is expected to decrease by 0.6 percent to 7.1 million hectares. Which indicates a slow rate of decline.
Global wine production is expected to reach 226 million hectoliters in 2024. This is the lowest in more than 60 years. Which is 5 percent less than 2023. This is mainly due to unforeseen and extreme weather events caused by climate change in both the northern and southern hemispheres.
Global wine consumption is estimated to be 214 million hectoliters in 2024. Which is a decrease of 3.3 percent compared to 2023. If confirmed, it would be the lowest global consumption level since 1961. Changes in lifestyle preferences, changes in social habits and generational changes in consumer behavior.
#inline_tags_PLACEHOLDER_3##विश्वव्यापी consumption:#inline_tags_PLACEHOLDER_5##195 Wine is widely consumed in the country.
#inline_tags_PLACEHOLDER_3##विकासको potential: inline_tags_PLACEHOLDER_5#Some countries with #ठूलो population still have significant growth potential.
#inline_tags_PLACEHOLDER_3#reduction in #अन्तर्राष्ट्रिय trade##inline_tags_PLACEHOLDER_5#
Export volume remained steady at 99.8 million hectares. There was a slight drop in export prices. It fell 0.3 percent to 36 billion euros. However, the average export price has historically been higher at 3.60 euros per liter. Due to inflation and low supply, prices have remained higher than in the pre-pandemic years.
