Core Insights - The International Organisation of Vine and Wine (OIV) forecasts global wine production in 2025 to be between 228-235 million hectoliters, with a median of 232 million hectoliters, representing a year-on-year increase of approximately 3% from the historical low in 2024, but still 7% below the average of the past five years [1][2] Production Forecast - Italy is projected to maintain its position as the largest wine producer globally in 2025, with an output of 47.3 million hectoliters, followed by France and Spain with 35.9 million hectoliters and 29.4 million hectoliters, respectively [1] - The United States ranks fourth, while Australia is expected to recover from a low production year in 2024 and return to fifth place, surpassing Argentina [1] Market Dynamics - The limited growth in global wine production is seen as a positive factor for stabilizing inventory levels amid slowing demand and ongoing uncertainties in international trade [2] - Global wine consumption is projected to decline further in 2024, reaching the lowest level in over 60 years, influenced by inflation and rising costs, continuing a downward trend that has persisted since 2018 [2] Organisation Overview - The OIV, established in 1924, is an intergovernmental research organization with 51 member countries, headquartered in Dijon, France. China joined as the latest member in November 2024 [2]