According to Nomisma/Wine Monitor, Italian wine exports have increased by 60% in volume and 188% in value over the last twenty years, despite a 25% drop in domestic consumption. The strategy focuses on quality and marketing to address the reduction in global consumption.
Overproduction of Wine: Nature Intervenes The decline in wine production in 2023, with a reduction of 23.2% compared to 2022, helped manage the surplus of bottles. Global production decreased by 10%, highlighting a general downward trend.
Wine Exports: Prosecco and Asti Drive Growth Italian wine exports saw an increase of 3.1% in volumes and 3.9% in values in the first quarter of 2024. Prosecco and Asti drove this growth, despite the general decline in Made in Italy.
Wine Market: Positive Signs amid Difficulties Despite the difficulties linked to wars, inflation and decline in purchasing power, the wine market shows positive signs in 2024. Producers such as Albiera Antinori, Michele Bernetti and Luca Rigotti are optimistic about the future of sector.
Recovery of Italian Wine Exports Thanks to Russia The recovery of Italian wine sales in the first quarter of 2024, with an increase of 3.1% in volumes and 3.9% in value, is mainly due to orders from Russia, which offset other areas of uncertainty in the market.
New Consumers and Market Changes in the World of Wine Industry experts discuss new consumer trends, with a growing interest in lighter and fresher wines. Gabriele Gorelli, the first Italian Master of Wine, identified 2015 as a turning point for this trend.
Mediobanca: Growth Forecasts for 2024 The major Italian wine producers expect growth in overall sales of 2.6% and 3% for exports in 2024. The bubbles continue to be optimistic, especially across the border, while the wines firm ones show more moderate forecasts.
Exports slow down but grow: 3.8% in value In the first three months of 2024, Italian wine exports reached 1.84 billion euros (3.8%). However, growth is slowing compared to the beginning of the year. Russia, USA and Great Britain show positive signs, while Germany and France record declines.
Global Wine Trade in Trouble Global wine trade fell 8.7% in the first quarter of 2024. Imports from Italy fell 0.9%, with significant declines in Germany and France.
Spanish Wine Invasion Due to a poor harvest in 2023, Italy massively imported white wines and musts from Spain, increasing quantities by 66% and 674% respectively.
Overproduction and Appeal for Quality Riccardo Cotarella, President of Assoenologi, underlines the need to reduce production to improve the quality and international competitiveness of Italian wine.
Pairing Wine and Food in Restaurants The role of the sommelier evolves towards that of narrator of the territory, with a growing focus on simple and precise pairing with food to boost consumption.
Italian Top Sellers Cantine Riunite-Giv leads sales with 671 million euros in 2023, followed by Argea and Italian Wine Brands. Frescobaldi, Santa Margherita and Antinori are the most profitable companies.
Russia Supports Exports Despite a complicated March, Russia significantly increased orders for Italian wine, helping to keep exports positive.
In summary, the Italian wine sector shows signs of growth and resilience, despite global and internal challenges.
Conclusions Despite global challenges, Italian wine exports show signs of recovery and growth, with a focus on quality and sustainability to address market trends.
