Key Market Indicators
Russian wine consumption is projected to drop significantly by 2028. According to recent data, the consumption will fall to approximately 788,000 metric tons from 912,000 metric tons in 2023. This marks a year-over-year decline of about 2.3%. Since 2019, Russia has seen a consistent decrease in wine demand, averaging a 2.4% decline annually. In 2023, Russia ranked eighth in global wine consumption, with Argentina surpassing it at 912,000 metric tons. Leading the consumption rankings were France, the United States, and Italy, occupying the second, third, and fourth positions respectively. On the production front, Russian wine output is also set to decline. By 2028, production is expected to reach around 377,000 metric tons, down from approximately 407,000 metric tons this year. This represents an annual decrease of about 1.2%. Since 1997, Russian wine production has been on a downward trend, decreasing by 1% per year on average. In 2023, Russia was the 13th largest wine producer globally, with Brazil slightly ahead at 407,000 metric tons. The top spots in wine production were held by France, Spain, and the United States, ranking second, third, and fourth respectively.
