Italian wine is taking advantage of the tremendous recovery of global F&B demand. Also thanks to the renewed appeal of the “Italy” brand – see the triumphs in sport (European soccer championships), and music (Eurovision song contest) competitions – Italian wine exports increased in July reaching almost 4 billion euros in value. This makes the 7-billion-by-the-end-of-the-year goal increasingly within reach.
In the first seven months of 2021, Italian wine exports increased by +6% in volume compared to the same period in 2020, and by +15% in value (Source: Ismea and Unione Italiana Vini on Istat data). The particularly high trend of exports reflects a generalized increase in average values, driven by a highly dynamic demand that is more oriented towards segments with a higher added value. In this regard, it is worth noting the brilliant performance of PDO wines (+17% in value), driven both by the still (+15%) and sparkling (+27%) segments. As far as prices are concerned, Italy is the country that over time has enjoyed the highest valorization of its wine on foreign markets. The Italian wine prices almost tripled compared to 25 years ago. This has been possible mainly thanks to the efforts made to improve quality.
ITALIAN WINE EXPORTS BY THE NUMBERS
In 2021, exports of Italian wine grew more in non-EU countries (+11% in volume, +17% in value) than in the EU market where purchases remained stable in volume growing by +11% in value. Among the main outlet markets, the USA stands out. In just seven months shipments reached a threshold of 2.5 million hectoliters (+21%) for a value of over one billion (+19%).
After Brexit, the United Kingdom, which is still one of the most important destinations for Made in Italy sparkling wines, is making the journey across the Channel less easy for Italian products: -6% in volume, stable in value.
In France, imports from Italy increased by +3% in volume and +17% in value. The considerable drop in production that is expected from the current grape harvest in France could open new spaces for Italian wine bottles in the traditional markets.
In the time period considered, there was also a strong recovery in exports to Switzerland (+5% in volume, +13% in value), Canada (+4%, +11%), the Netherlands (+15%, +17%), and Belgium (+27%, +31%). All this happens in an extremely positive context for exports to China (+64%, +67%), and Russia (+42%, +39%). Finally, it is worth noting the double-digit growth in an exporting country such as Australia:+16% in volume, +33% in value.