Wine Prices Rise. 2025 opens with a rise in wine prices, the result of production instability that characterized the 2023 and 2024 harvests.

Sparkling wines drive exports with 13% in volume and 10% in value, while bottled still wines record increases of 4% and 5% respectively. However, bulk wines suffer a slowdown, due to the limited availability of the product. Price tensions are also confirmed for IGT and DOP wines, with timid but constant increases.

Wine and Spirits on the Stock Market: A 2024 in Difficulty

The alcoholic beverage sector has had a turbulent year on the stock market. Weakening consumption, persistent inflation and the threat of tariffs from the United States have contributed to a general decline in sector stocks. The wine sector has seen an average decline of -9.6%, with Australian Vintage falling 65%. Champagne brands have also suffered, with shipments down 7.2% and double-digit losses for companies such as Laurent-Perrier (-13.4%) and Lanson-Bcc (-12.5%). Italian Wine Brands, on the other hand, bucked the trend, closing 2024 with a rise of 27.9% thanks to solid financial results and strategic acquisitions.

Prosecco Dominates Italian Exports

Prosecco is confirmed as the most exported Italian wine in the world, with constant growth especially in the Anglo-Saxon and North American markets. Italy remains the world leader in export volumes, surpassing Spain and placing itself behind France in value. The growing attention towards low-alcohol and sustainable wines represents an opportunity for the sector, which is increasingly investing in organic production and vineyard restructuring.

Consumption Down in Italy: Common Wines Do Badly, GI and DOP Hold Up

In 2024, sales in large-scale distribution fell by -3.4% in volume, reaching 436.4 million liters. DOC and DOCG wines remain dominant with a value of 1.05 billion euros, albeit with a slight decline of -2.5%. The segment of common wines, which still represents 35.5% of the market, suffered a contraction of -5.9%. The only ones to hold up are IGT wines, with a slight growth in value (2.2%). Among the main sales channels, supermarkets hold 73% of the market, with Caviro, Cantine Riunite & Civ and Gruppo Italiano Vini as the main players.

Franciacorta: Stability in Volumes and Growth in Exports

Franciacorta closes 2024 with stable volumes (19.1 million bottles) and a slight increase in the average shelf price (24.5 euros). The foreign market continues to expand, with the United States and Switzerland among the main buyers. 2025 will be a year of celebrations for the Franciacorta Consortium, with national and international events to strengthen the brand's positioning.

Crisis for US Wine, Prosecco Shines in the USA

2024 has been a critical year for the US wine industry, with declining sales and increasing difficulty in engaging consumers between 30 and 45 years old. However, Prosecco stands out for its ability to attract new consumers thanks to its versatility and affordable price. The US wine industry faces a structural crisis, accentuated by the decline in the population of "boomers", the main historical consumers of wine.

The Debate on the Highway Code and its Impact on Consumption

The new Highway Code has generated concerns among restaurateurs, with an estimated 30-40% drop in restaurant wine orders. Agriculture Minister Francesco Lollobrigida downplayed the impact of the measure, claiming there had been no drop in consumption. However, industry data and restaurateur testimonies indicate the opposite.

Wine Stocks Still High: One and a Half Harvests in Stock

At the end of 2024, wine stocks in Italy amount to 57 million hectoliters, with an increase of 16% compared to November 2024. Over half of the stored wine is DOP (55.1%), while 26.6% is IGP. The main regions with excess stocks are Puglia, Emilia-Romagna, Piedmont and Veneto. This surplus raises questions about market management in 2025, with increasing attention to the recovery of domestic consumption.

Conclusion

The Italian wine sector begins 2025 with solid export growth, but with significant challenges on the domestic market, including falling consumption, excess inventory and new regulations. Prosecco confirms its undisputed leader, while attention to emerging trends, such as organic and low-alcohol wines, will be crucial for the future of the sector.

 

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31/01/2025
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