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Food and drink The world hits peak wineWine-drinking surged in the 1990s partly as a result of research suggesting it was good for the heart. But now public-health officials warn people off alcohol entirely
Andrew J. Linn
Friday, 20 February 2026, 12:50
Ernest Hemingway, a famously heavy drinker, is supposed to have said his only regret in life was that he did not drink more wine.
To the disappointment of the wine industry, it appears fewer and fewer people now feel the same way. Demand is slumping internationally. Wine-drinking surged in the 1990s partly as a result of research suggesting it was good for the heart. But now public-health officials warn people off alcohol entirely.
Pagos del Rey Quinta Alegre Reserva 2018
A silver medal winner in the recent Rioja Masters, this tempranillo tinto wine is undoubtedly a winner in the price/ value stakes Around 15 euros, but be quick as it is fast running out.
Some of America's doctors want cancer warnings on bottles, and the World Health Organization says "There is no safe level of alcohol consumption".
Vintners are concerned that wine could be stigmatised like tobacco, and governments will treat it as such.
"If they start taxing wine like tobacco...people will be able to afford it less and less," says Stéphane Dalyac, boss of Laurent-Perrier champagne.
There are a few things to look out for in the year ahead. One is what happens to demand (and pricing) for Bordeaux in particular. The region is the largest producer of fine wine in the world and a barometer for the industry.
Another is the fate of vineyards, which are already being rooted up to make room for other crops.
Look for more consolidation in the wine sector, too, as some shrinking wine businesses change hands.
Even those not expecting a windfall have something to celebrate. A slump in demand means prices have fallen, referred to as a 'golden era for wine consumers in search of value'. Those still drinking wine will surely toast that.