The wine industry has experienced a 21% decrease in revenue from 2020 through 2025, leading to a surge in winery closings. The most recent example was Kenwood Vineyards, a 56-year-old California winery, which closed its operations on March 27. The industry's total revenue fell by $19.7 billion over the six-year period, or from $94 billion in 2020 to $74.3 billion in 2025, according to Silicon Valley Bank’s State of the U.S. Wine Industry Report. Industry experts attribute this decline to a decline in consumption by its top demographic, Baby Boomers. The winery's owner, Pernod Ricard Kenwood Holding LLC, filed a Worker Adjustment and Retraining Notification letter stating it would permanently close the business by March 31 and lay off all 14 employees by that date.