Higher Wine Spending Masks Ongoing Industry Challenges: 2026 BMO Wine Market Report

BMO’s 2026 Wine Market Report found that consumers are spending more on wine overall, but the industry continues to face significant pressure from declining per-capita consumption, shifting preferences among younger consumers and ongoing cost challenges across production and distribution.

This disconnect between premium spending and broader category softness highlights a more polarized consumer environment, creating implications for beverage, hospitality, tourism and luxury-focused sectors that must balance premiumization with changing generational tastes and evolving consumption habits.