Over the past year consumers across the globe purchased 81 glasses of New Zealand wine per second, each wine proudly labelled with its New Zealand regional origins.
Selling prices for our wines increased, and overall, our average price in 2023/24 was the second highest of all countries competing in our key markets. Our wines, our regions, and our people continued to attract positive endorsements from commentators. These are all positives, but it is telling that industry concerns over the past 12 months have been dominated by very real challenges, including flat or declining sales, high inventory levels, tough economic conditions, cost increases, falling global demand for wine, and supply chain destocking.
Beyond the short term, the industry is confident about the medium-to-long-term opportunities that exist for our wines. The industry and NZW have continued to invest in the future. New vineyards have been planted and, as we experience a rapidly changing environment, our focus remains on sustainability and research.
The goal for all continues to be enhancing the reputation of New Zealand Wine and the sustainability of our industry. Achieve this, and the industry will continue to grow significant export value over the next decade and beyond.
