Among the determining factors, there is the reduction in wine production, which has seen Italy cede the production primacy to France for the first time since 2015, influencing supply and consumption. Furthermore, the return to catering and the change in consumption habits, especially among young people, who prefer lower-alcohol drinks, have limited the expansion of wine e-commerce.
Wine prices stable, Amarone and Brunello among the most expensive: Post-harvest Italian wine prices remain stable, with some varieties increasing in value, supported by a less abundant than expected harvest, with a production of around 40 million hectoliters. In some areas of southern Italy, drought and recent rains in the north have affected the quality of the grapes. Tensions on price lists mainly concern white wines, such as Trebbiano and other generic varieties.
Decreasing revenues and increasing debts: A survey by Studio Impresa analyzed about 800 Italian wineries, highlighting a sector that is still productive, but in difficulty due to economic factors and market changes. Although overall revenues grew by 1.5%, real profitability decreased by 3.8% due to inflation, while debt continued to increase. International promotion is essential to maintain competitiveness.
Exports to the USA: Italy reached 939 million euros in wine exports to the United States in the first half of 2024, up 4.7% in value and 2.5% in volume compared to 2023. However, the luxury segment recorded a 7% drop in consumption, with high-end red wines still representing a small share of Italian sales in the USA.
2024/2025 Harvest Estimates: The 2024 harvest, complicated by adverse weather conditions, is expected to reach 146.5 million hectoliters in the European Union, down from the five-year average. Italy, with a forecast of 41 million hectoliters, is likely to be the main European producer, followed by France and Spain.
