Regional and Typological Performance
The North-East regions recorded the best performance with a 3.7% increase in volumes, thanks to Asolo Prosecco Docg and Veneto Igt. On the contrary, the North-West and Central regions suffered drops of 8.3% and 5.3% respectively. IGT wines showed significant growth of 16.5%, while the DOC and DOCG categories recorded decreases of 2.8% and 8% respectively.
Wine stocks and climate trends
Wine inventories are declining but remain strong, with 46.4 million hectoliters in stock at the end of May 2024, a decline of 7.1% from the previous month and 12.3% from the previous year. The Northern regions hold the largest quantity of wine, with Veneto in the lead. Climate change continues to negatively impact wine production, with production volume declining by 17.4% in 2023 due to extreme weather events.
Future perspectives
Despite the challenges, the prospects for the future of the Italian wine sector are positive. Italy maintains a leadership position in wine exports, with a growing trade balance and a strong presence in the global market. According to the Mediobanca survey, the Italian wine market could benefit from a remodulation of demand influenced by inflation and generational changes.
Conclusion
Italian wine is demonstrating a remarkable capacity for adaptation and resilience in the face of adverse economic and climatic conditions. The growth in bottled volumes, although moderate, represents a positive sign for the sector, which continues to navigate through global challenges with a strategy of innovation and quality.
