In August of 2021, the wine industry in the U.S. was at a peak, selling 450.3 million cases to customers. By the end of 2023, though, those numbers had plunged 17% to 376.5 million cases.
Now, as sales continue to lag and inventories pile up, the industry is facing a reckoning. A report in the San Francisco Chronicle indicates the days of industry growth for areas like California's Napa Valley and Sonoma may not return for several years, if at all, meaning closures and consolidation could be on the horizon.
