Domestic consumption remained stable, but operators remain vigilant because volume growth does not always correspond to an increase in turnover.
For 2025, leading producers expect a moderate increase in total sales (1.7%) and exports (2%), with a clear gap between the performance of sparkling wines and still wines. Internationalization continues to be a key factor: nearly half of the wine produced is consumed outside its country of origin, and Italy benefits from a steadily growing positive trade balance.
2. Leading wineries and strong segments
Mediobanca's Research Area's traditional survey of the financial statements of major wine companies provides significant insights. In 2024, the Cantine Riunite – Giv group maintained its leadership position with a turnover of approximately €676 million , a slight increase. Argea confirmed its second place with €464 million , followed by Italian Wine Brands (IWB) with €402 million . Among the cooperatives, Caviro (approximately €385 million ) and Cavit (over €253 million ) stand out. The most dynamic private groups include Antinori (€261 million, 7.4%), La Marca (€251 million, 11%), Herita Marzotto (€248 million), and Zonin 1821 (€209 million, 7.8%).
Looking at profitability, Herita Marzotto leads the ranking with an operating margin of 17.8%, followed by Antinori (12%) and Mionetto (9.2%). Some producers, such as Fantini Group (96%), Ruffino (93%), and Pasqua Vini , have exports exceeding 90%, confirming the importance of their international vocation.
In terms of segments, sparkling wines remain the engine of growth. Overall revenues from sparkling wines increased by over 4%, with a focus on DOC/DOCG designations and quality methods. Sales of still wines, however, are more cautious (0.9%) and require increasingly careful positioning strategies.
3. Internal Market and Large-Scale Retail Trade
The domestic channel is experiencing a stabilization phase. In the first quarter of 2025, Italian large-scale retail trade generated wine sales of approximately €694 million , a slight decrease of 1% compared to the same period in 2024. The market is driven by Classic Method sparkling wines (7.1%) and, to a lesser extent, sweet Charmat wines (2%). Protected Geographical Indication (PGI) wines recorded a 1.1% growth, while generic and sparkling wines suffered. The spirits sector is worth approximately €274 million and decreased by 3.2%, with gin posting double-digit growth (14.2%).
The weakness of the domestic market is linked to household economic difficulties. Discount stores are proving more resilient than other channels, while cash & carry and on-trade remain fragile. Inventories at the end of May 2025 exceed 46.6 million hectoliters , equivalent to an average harvest, with the risk of overproduction on the eve of the new harvest.
4. Export: key markets and international prospects
According to ISTAT data analyzed by WineNews, in the first five months of 2025, Italian wine exports were worth approximately €3.2 billion , a slight decrease (-0.8%) compared to the previous year, and a volume of 852 million liters (-3.8%). The United States remains the main outlet market: despite stable volumes (around 150 million liters ), the value of US imports grew by 5.7% , exceeding €838 million . Germany and the United Kingdom remain the main European markets, but are showing signs of slowing: the value of German imports fell by 1.2% to €479 million , while volumes fell by 5.8%; the United Kingdom recorded a 5.9% decline to €298 million .
Among the emerging non-European markets, Canada (9.8% to €159 million), France (2.1% to €131 million), the Netherlands (1.8% to €105 million), and Belgium (2.3% to €91 million) stand out. Conversely, Russia halved its purchases (-45%), while Japan (-11%) and China (-21%) showed significant declines. Geopolitical tensions, particularly US tariffs, are impacting competitiveness and necessitating market diversification.
5. Other trends and perspectives
Nomisma's analysis for the Federvini Observatory shows that in 2025, the wine and spirits market in Italy will grow by only 0.7% in value, while spirits will advance by 3.1% . The overall supply chain (wine, spirits, and vinegar) is worth €21.5 billion and represents 94% of Italian agri-food exports, but it faces a fragile macroeconomic environment, rising costs, and volatile consumption.
Consumer preferences are shifting toward sparkling wines , dry white wines , organic products , and premium labels ; low-value red wines are losing ground. In 2024, red wines lost 6.8%, while sparkling wines gained 5%. DOCs are slightly growing (2.7%) while DOCGs (-2.3%) and IGTs (-6.3%) are declining. In the United States, imports of Italian wine dropped 10.6% in May, prompting companies to look more closely at Canada , the United Kingdom , and Japan .
On the institutional front, the European Union is working on a "Wine Package" to improve the sector's competitiveness, simplify labels, and strengthen resilience to climate change. The main producing countries (Italy, France, Spain) are calling for greater diplomatic support to avoid an escalation of tariffs with the United States. In Italy, some regions, such as Piedmont, are calling for urgent action to manage surpluses through extraordinary distillation.
6. Strategic advice for operators
Conclusion
The Italian wine sector remains a pillar of the national economy and a symbol of Made in Italy. Challenges abound: high inventories, cautious domestic consumption, geopolitical tensions, and international competition. However, the outlook remains positive thanks to the strength of leading wineries, the growth of sparkling wines, and the attractiveness of premium wines. For operators, this is the time to act with strategic vision, diversifying markets and products, investing in quality and innovation, and relying on expert partners to maximize the value of their businesses.
