The wine industry has been facing multiple challenges in recent years, from shifting consumer trends to economic pressures.
However, despite concerns over declining interest among younger generations, the Italian wine sector continues to show resilience, with sparkling wines playing a pivotal role in its overall stability.
The Surge of Italian Sparkling Wines
Italy's sparkling wine segment has witnessed significant growth, gaining a larger share of both domestic and international markets. According to Istat data analyzed by WineNews, Italian sparkling wine exports in 2024 reached 555.5 million liters, marking a +12% increase compared to 495.7 million liters in 2023. In value, this equates to EUR 2.3 billion, a rise of +5%, contributing 28.4% of the total export value and 26.4% in volume of all Italian wine exports.
This expansion of sparkling wines, particularly Prosecco and high-end Metodo Classico, has drawn market share away from still wines. However, the numbers also indicate a strong performance for still wines, particularly those with Denominazione di Origine Protetta (DOP) and Indicazione Geografica Protetta (IGP) classification.
Still Wines: Holding Strong Despite Market Shifts
Contrary to the perception of a decline, still wines with a designation of origin have demonstrated positive trends. Ismea data analyzed by WineNews shows that in 2024:
- DOP still wine exports exceeded 6 million hectoliters, growing by +7.6%, with a total value of EUR 3.17 billion (+5.6%).
- IGP still wine exports surpassed 4.5 million hectoliters, showing a +3.4% increase, generating EUR 1.48 billion in exports (+1.1%).
- Common wines, mainly still wines, declined in volume (-11.4%), yet their total value still rose to EUR 341.9 million (+5.8%).
Among PDO wines, still wines accounted for 52.5% of total export volume and 57.6% of export value in 2024, compared to 54.23% and 58% respectively in 2023. While there is a slight decline, it does not indicate a drastic downturn.
Italy’s Global Position: A Record Year for Wine Exports
In 2024, Italy's wine exports hit a new milestone, exceeding EUR 8 billion in turnover. This achievement was influenced by several factors, including a +3.2% rise in quantity exported, following a temporary setback in 2023. Sparkling wines made up 25% of export volume and 29% of export value, further solidifying Italy’s presence in the global market.
Italy remains the world's leading wine exporter in volume and second in value, only behind France. While France maintained its 2024 export volumes, it experienced a -2% decline in value, whereas Spain saw a -3% drop in volume but a +4% rise in revenue.
Key Export Markets: The U.S. Leads, Russia Surges
Italian wine exports continue to thrive in major global markets:
- United States: The top destination, accounting for 24% of total export revenue in 2024, with a +10.2% increase in value and +7% in volume.
- Germany: The second-largest market grew +4% in value, though volumes slightly declined.
- United Kingdom: A modest rise of +1% in value and +2% in volume.
- Canada: Notable growth of +15.3% in revenue and +4% in volume.
- Russia: A standout performer, increasing its purchases of Italian wines by over 40% in both value and volume in 2024.
Final Thoughts: A Balanced Future for Italian Wines
While sparkling wines are experiencing a remarkable rise, still wines, particularly DOP and IGP wines, continue to showcase resilience and growth. The Italian wine industry remains dynamic, adjusting to market shifts while maintaining its reputation as a global powerhouse in wine production and exports.
With strategic positioning and a diverse offering that caters to evolving consumer preferences, Italy’s wine sector is well-equipped to navigate the challenges ahead, ensuring its enduring presence in the global wine trade.
Source: WineNews