After a 2023 marked by a significant contraction in global consumption, 2024 confirmed the negative trend, especially in international trade. Among the 12 main import markets (representing over 60% of global wine trade), only the United States, Canada, China and Brazil recorded growth.
Italian exports: sparkling wines going against the trend
Despite the general decline, Italian wine performed better than average , with an increase in exports thanks to sparkling wines, which recorded a 4.8% increase in value against an aggregate average of -5.1% . Exports to the USA (11%) , Australia (10%) and Canada (9%) were particularly positive.
Difficulty for France, Australia bounces back
While Australian wine has recovered thanks to the revocation of the 218% supertariff in China, France continues to lose ground , with a -2.4% drop in export value in 2024 , dragged down by the collapse in Champagne sales (-10% bottles shipped).
Domestic Market: Decline in Consumption and Growth in Discount Stores
Inflation and economic uncertainty have affected the habits of Italian consumers. In 2024, sales in large-scale distribution (GDO) fell by -2% , with peaks of -4.6% for red wines and -7.4% for sparkling wines . In contrast, discount stores maintained volumes and recorded a 1.2% growth in value , driven once again by sparkling wines.
New markets: growth in Eastern Europe and Latin America
In an uncertain context, Italian exports have found outlets in Poland (26%), Czech Republic (47%), Romania (22%), Mexico (3%) and Ecuador (56%) . Brazil , with over 200 million inhabitants, has become a key market for Italian wines, especially Tuscan and Piedmont reds, appreciated by Millennials with medium-high incomes .
Generations and new consumer trends
Wine consumption is increasingly linked to older age groups. In Italy and the USA, most purchases are made by those over 60 , while Gen Z tends to consume it only on special occasions, preferring low-alcohol and sustainable products. This explains the growth of the No Alcol wines market in the USA .
The danger of alarmist labels and duties
EU: Threats of wine restrictions
The wine sector is once again under attack in Europe. The EU Commission is considering the introduction of alarmist labels on bottles, similar to what has already happened in Ireland and proposed in Belgium in 2024. This policy risks damaging a sector worth 8.2 billion euros in exports , with the USA as its main market.
The US and the threat of tariffs
American political uncertainty, with the possible return of tariffs under a new Trump administration, has triggered an anomalous boom in orders : in the final two months of 2024 , Italian exports to the United States grew by 20% in volume and 21% in value , in anticipation of possible future restrictions. However, American domestic consumption is down -7% , with Italian wine at -4.4%.
Production and inventory situation
Cantina Italia: still a lot of stock
Despite one of the poorest 2023 harvests ever (38.3 million hectoliters), “Cantina Italia” continues to have 57.5 million hectoliters in stock as of January 2025. The most present wines in the warehouse are:
High inventories and the need to find new markets make the pressure on the Italian wine sector even more evident.
Conclusion: the market is becoming more and more competitive
Italian wine faces a complex period between demand contraction, political and commercial uncertainties, protectionism and changes in consumption habits . Prosecco and sparkling wines remain the strong points , but it will be essential to explore new markets and invest in innovation to keep the sector competitive at a global level.
