The Italian wine sector closed 2020 with a drop in turnover of -4.1% (-6.3% on the domestic market, -1.9% abroad), according to data from the first joint report on the Wine & Spirits sector by Mediobanca Studies Area, Studies Office of Sace, and Ipsos.
In 2020 the major Italian wine producers closed the year with a drop in turnover of -4.1% (-6.3% in the domestic market, -1.9% abroad)
Good news on the exports front. In fact, in the two-year period 2021-2022 an increase in wine consumption of +3.8% per year is expected in many of the main markets. For the two major importing countries of Italian wine, the expected average annual growth is +2% (USA) and +3.1% (Germany) respectively.
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The United Kingdom is a different matter. The expected growth there is +2.4% per year, but the forecasts are complicated due to post-Brexit developments. Opportunities may come from markets already known to Italian wine: Canada and Japan show an expected strong growth in consumption (+5.9% per year for both). But it is China that shows one of the highest potentials with an annual +6.3% increase in the two-year period 2021-2022.
GROWING EXPORT SALES FOR ITALIAN ALCOHOLIC DRINKS
Exports of wines and spirits are worth 30% of total Italy’s food and beverage exports, amounting to 7.8 billion euros in 2020. The sector comes from a multi-year growth: +6.3% average per year for wines in the period 2010-2019, rising to +9.7% for spirits.
Exports of Italian wine are worth 6.3 billion euros, mainly directed to the United States (23.1% of the total), Germany (17.1%), and UK (11.4%)
In 2020, Italian wine exports were worth 6.3 billion euros, mainly directed to consumers tables in the United States (23.1% of the total), Germany (17.1%) and the UK (11.4%). More modest are the export sales generated by the spirits sector, which is worth 1.5 billion euros and has Europe as its preferred destination (60.4% of the total). There are two major markets: the United States and Germany, which together account for 40% of the total. In 2020, the development of the US market (+21.5%) made it the first destination for Italian spirits exports, ousting Germany from the top step of the podium (+3.5%).