According to Vinetur, the bulk wine markets around the globe have remained relatively quiet from April through early May 2026. The Ciatti Global Wine & Grape Brokers report highlights that rising costs and economic uncertainty, particularly linked to the ongoing conflict in Iran, have contributed to a slowdown in buyer activity that has been evident for several months.
Producers are grappling with increased expenses for fuel, transportation, and fertilizer, while inflation and interest rates have also surged in various countries. This has led to a more cautious approach from buyers, especially as inventories remain high and demand continues to wane.
The report notes that the Southern Hemisphere’s 2026 harvests are now complete, with new wines beginning to emerge in the market. The coming weeks will be crucial in determining demand levels as these wines are introduced and pricing strategies are established, which will ultimately influence the activity of the 2026 buying season.
According to the International Organisation of Vine and Wine, global wine production for 2025 is projected at 227 million hectoliters, marking a modest increase of only 0.6% from 2024. This follows a notably low harvest in 2024, the smallest since at least 1961. Although smaller harvests in recent years have helped to reduce some inventories and elevate grape and bulk wine prices, overall consumption has been on the decline.
The OIV estimates that global wine consumption in 2025 will decrease by 2.7% compared to 2024, and is 14% lower than 2018 levels. Traditional wine-drinking countries have all reported declines, with Portugal being a rare exception, experiencing a 5.6% increase.
As demand diminishes, retailers are feeling less pressure to secure supplies, resulting in distributors becoming more price-sensitive due to their own cost challenges. In Spain, suppliers must recognize that buyers have alternatives in the global market and are becoming increasingly adept at navigating these options.
Producers are also experimenting with offerings to align with shifting consumer preferences, including a rise in low- and no-alcohol wines and wine-based ready-to-drink products, although these segments remain small compared to spirits and malt beverages.
In retail, some consumers are witnessing lower prices as premium wines are redirected into bulk channels, and private-label wines gain more shelf space. However, Ciatti cautions that these lower prices, coupled with reduced sales volumes, may not be sustainable for many wineries or growers.