As global wine consumption continues to dip, the South African wine industry is feeling some of the strain — but the picture isn’t all bleak. According to veteran wine commentator and Standard Bank WineX Director Michael Fridjhon, the local decline is far smaller than international trends, with sales down just 3–5% this year — a reflection, he says, of “economic pressure rather than a real swing away from wine.”

Speaking on HOT Business with Jeremy Maggs, powered by Standard Bank, Fridjhon explained that the entire value chain is affected — from farms and producers to retailers and exporters. Exports to Europe have dropped significantly since their peak more than a decade ago, and while the pandemic briefly slowed the slide, South Africa now exports roughly 100 million litres less wine than in its heyday.

Domestically, however, Gauteng continues to carry the industry — accounting for around 41% of all bottled Cape Wine sales globally. “It’s our biggest market by a large margin,” says Fridjhon, noting the region’s deep consumer base and cultural connection to the Cape.

Beyond South Africa’s borders, the future may lie in intra-African trade and BRICS markets. East and West Africa are showing encouraging growth, though high tariffs still pose a challenge. Meanwhile, the Chinese market — once dominated by Australian imports — offers potential if trade barriers can be eased.

As Winex opens its doors this week, Fridjhon believes the event’s 25-year legacy is crucial for reconnecting the industry with both seasoned enthusiasts and a new generation of wine lovers. “WineX helps people discover that wine is not just an alcoholic drink — it’s a conversation, a community, and a culture.”

Listen to the full interview on HOT Business with Jeremy Maggs below: