Factors such as possible US tariffs, high interest rates and inflationary pressures contribute to maintaining a cautious climate among operators in the sector.
Private label wines: In Europe, private label wines represent almost 30% of the market both in volume and value. In Italy, this share is less than 13%. The average price of private label wines is 2.56 euros per liter, while company brands stand at 3.6 euros per liter. The discount channel plays a crucial role in the spread of private labels, with around 40% of sales in this segment.
Wine Consumption in the HoReCa Sector: There has been a tangible decline in wine consumption in the restaurant and hospitality sector. Restaurateurs, producers and hospitality managers shared thoughts on how to adapt to these new dynamics, also considering the changed habits of consumers.
Wine Imports in 2024: The international wine market showed mixed trends. Italy performed well in markets such as the USA, Brazil, Canada and Japan, while it faced difficulties in China, Korea and Germany. For example, Chinese imports increased by 38%, driven by the return of Australian wines, while Italy saw a 10% decrease in this market.
US tariffs on European wine: The US administration's announcement to apply 25% tariffs on European exports poses a threat to the Italian wine sector, especially for regions such as Valpolicella. The United States is a key market for Italian exports, and these duties could jeopardize a supply chain worth approximately 1.9 billion euros.
Food and wine tourism and Made in Italy: The excellence of Made in Italy is attracting a growing number of tourists. In the first 11 months of 2024, foreign tourist presences reached 235 million, with a growth of 3.7% compared to the previous year. Germany remains the main source market, followed by France, the United Kingdom and the USA.
Wine consumption in Germany: The German market has seen a decline in wine consumption, with a 4% drop in quantity and 5% in value. German wines have suffered a 5% reduction in volume and 6% in turnover. This trend is attributable to the negative economic situation and changes in consumer habits.
Value of Italian Vineyards: Despite the market difficulties, Barolo vineyards have become among the most valuable in the world, with a value of 2.08 million dollars per hectare, up 5%. Brunello di Montalcino vineyards also saw a 3% increase, settling at 910,000 dollars per hectare.
Italian wine exports to the US: Despite concerns over tariffs, Italian exports to the US reached a new record in 2024, reaching almost 2 billion euros. However, domestic consumption in the US is falling, with an overall decrease of 9.6% in wine sales, raising questions about the sustainability of this trend in the long term.
These data highlight an evolving sector, with challenges and opportunities that require strategic adjustments by operators in the Italian wine market.
