According to Carlo Miravalle of Med.&A., the 2024 harvest will be more abundant than 2023, allowing prices to be contained and market shares to be recovered. There is growing interest in rosés and lesser-known grape varieties such as Ribolla Gialla and Pecorino.
However, according to IWSR, global wine consumption is expected to decline in the long term. This decline is attributed to lifestyle changes favoring health and moderation, as well as competition from other beverages, especially among young people. In Italy, wine consumption among 18-39 year olds has fallen from 37% in 2010 to 26% today.
Italian exports grew by 5.8% in the first four months of 2024, thanks above all to orders from Russia and Japan. However, these increases may not last into the second half of the year. Sparkling wine exports, driven by Prosecco, increased by 14.3% in volume, reaching 684 million euros.
Despite the positive data, the sector faces climate challenges and trade tensions with China. The poor 2023 harvest and concerns about the 2024 harvest make the future uncertain. Forecasts indicate that consumption will continue to decline, especially among young people, requiring innovative strategies to attract new consumers and adapt to market changes.
