Market slow; older stocks skew availability picture

In this month’s Global Market Report, all countries are united in reporting the symptoms of an industry entering the fourth year of a challenging environment: late loadings, late payments, cashflow shortages, and vineyard removals. Already gathering momentum is a belief that 2026 will be another “transitional” year before market stability finally arrives, hopefully in 2027. But many wine industry operators are running out of time for things to improve.

On the supply side, strides have been made over the past two years, assisted by shorter winegrape crops across the world: thanks to a combination of Mother Nature and human hand, global production in 2024 was estimated to have been the lowest since 1961, and 2025 production registered only a slight uptick. A significant challenge is the “polluting echo” of older inventory, which gives buyers a skewed perception of abundance. Current or recent-vintage supply, most commonly requested by buyers, is generally closer to balance. On some bulk markets, a lack of buying activity can be mainly attributed either to a shortage of the most requested wines (sending buyers to alternative supplier countries), or elevated prices stimulated by the shortage (encouraging buyers to secure wines incrementally, or seek out alternative countries).

The main problem is that, all the while the supply side has made positive strides, demand has continued to retreat. The decline in wine consumption in North America and Europe shows few if any signs of abating. As Italy’s page observes this month, if the wine industry cannot work out how to stabilise sales in its largest consumption markets, enhancements in production and efficiency will “merely become excess capacity”. The Italy page argues for “investment in communication and intelligent marketing”.

But while innovations in messaging, packaging and “gateway” products such as wine-based RTDs can help turn the tide of consumer perception, value-oriented wines – possessing a taste profile the consumer actively enjoys, priced at where the consumer is prepared to pay – are ultimately what will sustain long-term growth. Given the opportunities currently sitting on the bulk market, including wines diverted from the bottled trade, now is an advantageous time for buyers to secure supply that, ultimately, hits the price-quality sweet spot the next generation of wine consumers – more indebted, less flush with discretionary cash than its predecessors – is looking for.

To harness the best of what the market has to offer and make the most informed choices, get in touch directly with the Ciatti broker team, which can leverage its global reach and local connections. The team enjoyed meeting faces old and new at Wine Paris this month, and looks forward to meeting many more at ProWein in March.

Read the full Ciatti Global Market Report for February.

Ciatti at ProWein

Ciatti will be attending ProWein 2026, being held at Messe Düsseldorf on 15-17th March. The international broker team will be out in force around the show and on Stand K02, Hall 6. Click here to find us on the interactive hall plan.

To set up a meeting with Ciatti brokers ahead of time, head to our contacts page.