After a promising start in January 2025, Italian wine exports hit the brakes in February.
According to Istat data analyzed by WineNews, Italy recorded wine export revenues of EUR 1.19 billion over the first two months of the year—up +3.6% year-on-year, but this marks a noticeable slowdown from January’s +7.5% growth.
While the overall trend remains positive in terms of value, the volume of exports fell by -1.7%, reaching 316.8 million liters. This indicates a price-driven performance, not one based on growing demand or quantity sold—a worrying signal for producers and exporters alike.
Sparkling Wines Slightly Outperform
Among the categories, sparkling wines maintained a relatively better position:
- Value: EUR 322 million (+4.5%)
- Volume: 74.6 million liters (+3.3%)
However, even this segment shows a deceleration in momentum, signaling that premium bubbles like Prosecco or Franciacorta are not immune to shifting consumer behavior and economic constraints.
Key Markets: Diverging Paths
United States – Still the Star Performer
The U.S. continues to act as a key growth driver, with:
- EUR 335.7 million in exports (+20.5%)
- 57.8 million liters (+8.2%)
This surge appears tactically motivated, likely linked to importers anticipating tariff increases in April, pushing them to stockpile ahead of time.
Germany – Stable Value, Declining Volume
Germany remains a stronghold but reveals fragility:
- EUR 179 million (+2.4%)
- 77.1 million liters (-2.2%)
The market seems to be favoring higher-priced wines or more selective purchasing, squeezing out volume growth.
United Kingdom – A Subtle Decline
A mild yet concerning drop:
- EUR 107.2 million (-1.4%)
- 34.1 million liters (-1.2%)
This could be a reflection of ongoing economic strain, reduced discretionary spending, or post-Brexit trade complexities.
Canada – Still Strong
Canada offers a brighter picture:
- EUR 62.3 million (+14.6%)
An encouraging signal for exporters looking to diversify away from the EU and China.
Switzerland – Modest Growth
The Swiss market remains stable and positive:
- EUR 59.7 million (+1.5%)
🇫🇷 France – Flatlined
Traditionally a difficult market for Italian wine, France shows no real progress:
- EUR 40.8 million (+0.9%)
Eastern Markets: A Bleak Horizon
Japan – Momentum Lost
After a strong January, exports dropped sharply:
- EUR 26.7 million (-6.9%)
🇨🇳 China – Continued Decline
China remains a severely contracting market:
- EUR 9.3 million (-27%)
This persistent collapse could be attributed to weakened domestic consumption, geopolitical tension, or increased domestic wine promotion.
Russia – A Collapsing Market
- EUR 20 million (-54.7%)
- 5.1 million liters (-68%)
Trade restrictions, sanctions, and economic instability continue to cripple Italian wine sales in Russia.
Cellar Stocks & Supply Concerns
The “Cantina Italia” report reveals that wine stocks in Italian cellars remain unusually high, at just under 50 million hectoliters as of April 30, 2025—a marginal decline of -0.5% compared to 2024. This suggests a sluggish domestic release and could put pressure on pricing and export strategies if demand doesn’t recover.
Outlook: Waiting for the Spring Rebound?
The industry now awaits export data for the first four months, expected in June. All eyes are on whether:
- The slowdown is seasonal or structural
- Demand from North America remains resilient
- Eastern markets rebound or continue to shrink
- Cellar stocks force a shift in pricing strategies
Conclusion: A Market in Flux
February 2025 paints a picture of moderate value growth driven by price rather than demand, and highlights a growing divergence between markets. The U.S. and Canada offer hope, while Asia and Eastern Europe raise red flags. Sparkling wines still hold allure, but their slowing pace echoes the global wine sector’s challenges.
The coming months will be critical for Italian producers, who may need to adapt marketing, diversify destinations, or recalibrate pricing to maintain momentum in a volatile global market.
Source: WineNews