Italy’s biggest wine-exporting region is entering a tougher phase.
Veneto’s wine sales abroad dropped 8.4% in the first half of 2026, a steeper fall than the country as a whole.
A sharper drop than the national average
Veneto shipped 1.32 billion euros of wine between January and June, according to an analysis by the regional agency Veneto Agricoltura, reported by ANSA. Italy’s overall exports fell 6.2% over the same period, so the region did 2.2 percentage points worse than the national figure. Based on the rounded numbers, the decline amounts to roughly 121 million euros in lost sales compared with the first half of 2025.
The drop breaks the growth pattern Veneto had enjoyed in recent years. Even so, the wine region still accounts for 36.3% of all Italian wine exports, so its setbacks weigh heavily on the national trade balance.
Warning signs in 2025
The pressure was already visible last year. Veneto exported 2.93 billion euros of wine in 2025, down 1.1% from 2024, even though volumes rose 1.2%. The average export price fell 2.3% to 3.64 euros per liter, which means more wine was sold for less money. Italy’s exports as a whole fell 3.4% in 2025. That mix of rising volumes and softer prices helps explain why the slowdown deepened in early 2026.
The ANSA report did not break down the first-half figures by volume, price or product type, so it is unclear how much of the latest decline comes from weaker shipments and how much from lower prices. The 2025 comparison suggests pricing has played a major part. The study also cites changing consumer habits and a fragile geopolitical environment as factors.
Still wines steady, sparkling wines under strain
Two categories carry most of the region’s export business. Bottled still wines made up 49.2% of export value and sparkling wines 47%.
Still wines held up in 2025, earning 1.44 billion euros (up 0.5%) on about 3.8 million hectoliters (up 0.6%). Sparkling wines were weaker. Volumes rose 0.8% to 3.3 million hectoliters, but revenue fell 3% to 1.38 billion euros as average prices declined.
That matters because sparkling wine has driven Veneto’s growth for a decade. Compared with 2016, the region’s sparkling exports in 2025 were up 97.9% in value and 76% in volume, largely thanks to Prosecco’s global rise. The category remains large and important, but it is no longer expanding at the same pace and is more exposed to price competition.
A concentrated customer base
Veneto’s wines reached about 150 countries in 2025, but just 20 markets generated roughly 89% of export value. The United States led with 21.6% of the total, worth more than 633 million euros, followed by Germany at 437 million euros and the United Kingdom at 369 million euros.
That concentration leaves producers vulnerable to demand shifts in a few key destinations. Some eastern European markets are emerging as bright spots: Ukraine and Slovakia have entered the region’s top 20, with export values up 467% and 384% respectively compared with 2016.
The challenge ahead
For Veneto’s producers, the central question is no longer just whether demand is weakening, but whether selling more liters can still protect revenue when prices fall. The 2025 results suggest it cannot, and the first-half 2026 figures point to a harder export environment for one of the pillars of Italian wine abroad.
Source: Vinetur