Problems and opportunities within the wine industry in terms of the COVID-19 pandemic

ABSTRACT

The COVID-19 pandemic has affected and still affects various sectors, including the agricultural sector. A specific industry deriving from agriculture is the wine industry. The purpose of this article is to find out and analyse the impact of the COVID-19 pandemic on the wine sector, especially regarding the Slovakia wine sector. To achieve this, a wide literary research study was conducted through which an overview of the global wine industry situation was obtained. Subsequently, the impact of COVID-19 on a selected wine business in the Slovak Republic was determined via interviewing. The findings were further analysed and compared with the situations of other Slovak and foreign wineries. It follows from the observations that both risk diversification within supplying and purchasing relations and the business's essential need to adapt to new circumstances under adverse conditions are very important factors. The article's contribution lies in a summarization of the problems and opportunities within the wineries as a result of the COVID-19 pandemic, based on a wide literary research review and interviews with an employee of the large wine company, and the conclusions can also be applied to other agricultural industries.