- This negative trend is mainly due to the 3.4% drop in still and sparkling wines, while sparkling wines recorded an increase of 4.2% . Despite the drop in volumes, the overall value of sales grew slightly by 0.6% , reaching 1.4 billion euros.
- Sparkling Wines on the Rise: Charmat sparkling wines, excluding Prosecco, are gaining popularity as a base for home spritz, contributing to an overall increase in sparkling wine sales of 33% over the past five years.
Fine Wine Market: Stability in Italy, Difficulties for France
- Calm for Italy: The fine wine market saw a decline of 0.6% in the first half of 2024. Italy remained stable with a minimum decline of 0.1% , while France suffered a decline in ' 1.1% , influenced by Bordeaux's weak En Primeur campaign. Italian regions such as Tuscany (0.5%) and Piedmont (0.3%) showed moderate growth, with Piedmont recording the best performance in June (1%).
Sales in foreign markets: Italy stable, global decline
- Foreign markets: In the main foreign markets (United States, United Kingdom and Germany), wine sales in large-scale retail trade decreased by 4.3% in volume, with a value of 13.9 billion euros (-1.5% ). However, Italy recorded a slight increase in volumes (0.1%) and an increase in value to 2.3 billion euros (0.9%), supported by sparkling wines.
- Regional performance: In Germany, Italian "sparkling" wines saw a notable increase of 23.3% in volume and 14.6% in value, helping to offset losses in other segments. In the United States, Italian wine sales fell to 973 million euros, with a 2.8% increase for sparkling wines. Prosecco now represents one in four bottles of Italian wines sold in the USA (4.3%).
Summer 2024 Consumption Trends: Interest in Whites and Rosés
- Consumption trends: According to the Association of Italian Wine Shops (Vinarius), there is a growing interest in white and sparkling wines, with a slight recovery for rosé wines, especially light and fresh ones. Consumers are increasingly seeking wines with lower alcohol content, indicative of a greater focus on sustainability and health.
- Fresh red wines: Light red wines, such as those from Alto Adige and Ottavianello from Brindisi, are becoming popular as they can be served chilled without losing their characteristics.
Challenges and Future Prospects: Reduction of Yields and Enhancement of Territories
- Production challenges: Lamberto Frescobaldi, president of the Italian Wine Union (UIV), underlines the need to reduce production yields to avoid an excess of supply, while aiming to rediscover the specificities of the various Italian wine-growing regions to maintain competitiveness.
- Growing exports: Despite internal difficulties, Italian wine exports grew by 7% in value in the first four months of 2024, reaching 2.5 billion euros.
This period reflects a transition phase for the Italian wine sector, with new challenges and opportunities emerging in response to changes in consumption patterns and global market conditions.
