Italy maintains its leadership in exported quantities, despite Spain dropping to just over 20 million hectoliters (-4.1%). Bottled denomination wine types are particularly affected, with a contraction in volumes of 6.2% for PDOs and 4.3% for PGIs. The red wines of the Belpaese are also suffering, recording a drop of 8% for PDOs and 6% for PGIs.
A positive signal comes from bulk, which saw a strong increase of 12% in 2023, especially thanks to demand from Germany. However, sparkling wines suffered a decline of 2.3% in volume, despite growth in values of 3.3%.
Internationally, the Asian market, particularly China and Japan, is showing worrying signs, with a significant reduction in wine imports in 2023. China has reduced its imports by 26% in volume and 15.2% in value, indicating a stalemate in the Asian wine market.
Wine and the market: The sentiment from ProWein 2024 reflects caution and restrained optimism
The world of wine gathers in Dusseldorf for ProWein 2024, where a feeling of caution emerges mixed with a desire for recovery. Despite inflation, which continues to be a major factor in the sector, experts express cautious optimism for the future. Italy, with almost 1,200 exhibitors, confirms itself as a key player in the event. However, rising costs in 2023 have undermined the industry's profitability, leading many to review their business strategies and reduce production of lower-end wines. This, combined with a decline in the purchasing power of families and a general reduction in consumption, creates an uncertain economic picture that requires caution and prudence in optimism.
However, despite the challenges, there is confidence and hope for 2024. After key events such as Prowine and Vinitaly, Italian wineries are looking for new markets to offset the decline in traditional regions. The second day of Prowine showed a mix of enthusiasm and perplexity, with some operators leaving with a smile thanks to well-organised meetings, while others were disappointed by the less brilliant event.
Additionally, concerns over wine tariffs in Europe, with the possible return of tariffs by the United States under President Donald Trump, add uncertainty to the global wine market.
In this context, Italian wineries are trying to adapt and capture the attention of consumers in an increasingly competitive and changing market. While the corridors of trade fairs might offer a breath of fresh air, it is in the global market that the future of Italian wine will be decided, where every sip must become an unforgettable experience.
Crisis in Australian Vineyards: Falling Prices and Stagnating Market
Australia, the fifth largest wine exporter in the world, is facing an unprecedented crisis in the wine sector. Australian vineyards are dealing with plummeting prices and a gridlocked market as they try to chart the industry's future.
The crisis was triggered by tariffs imposed by China in 2020, which hit the Australian wine industry hard. However, there are signs that these tariffs could soon be lifted, offering hope for recovery for manufacturers.
However, Australia's problems go beyond Chinese tariffs. There has been a general decline in demand for affordable red wines, which have traditionally been the mainstay of the Australian wine industry. This drop in demand has contributed to an oversupply and lower grape prices, placing strain on producers.
Crucial wine-growing areas such as Griffith have suffered a collapse in grape prices, falling from an average of €400 a tonne in 2020 to just €180 last year. This situation has pushed producers to question themselves on the strategies to adopt to deal with the crisis.
The Australian government has set up a task force to address the crisis, inviting the wine sector to contribute ideas and solutions to get out of this difficult situation. However, the path to recovery remains uncertain and manufacturers must prepare for a future full of challenges and uncertainties.
As the Australian wine sector tries to find a way out of the crisis, it remains to be seen which path it will take and what the long-term consequences will be for the country's wine industry.
