In 2023, dairy producers and commercial operators within the Consortium of Parmigiano Reggiano PDO navigated a challenging landscape, marked by macroeconomic uncertainties and inflationary pressures dampening household purchasing power. Despite these headwinds, the past year proved notably buoyant. Overall, consumer turnover for Parmigiano Reggiano PDO reached a historic peak of €3.05 billion, up from €2.9 billion in 2022, marking a solid 5% increase. Positive outcomes were evidenced across total sales volume (+8.4%), buoyed by a favorable export trajectory (+5.7%) and notably robust domestic sales (+10.9%).
EXPORT PERFORMANCE OF PARMIGIANO REGGIANO PDO
Export sales now constitute 43% of total revenue, reflecting a robust 5.7% growth over 2022. Particularly encouraging performances were observed in Spain (+7.8%), France (+6.9%), the United States (the primary foreign market, up by 7.7%), and Australia (+21.8%). However, there were setbacks noted in Canada (-6.5%) and Japan (-8.2%), attributed respectively to quota issues and exchange rate challenges.
With €31.8 million invested in 2023 towards marketing, communications, and market development, the Consortium of Parmigiano Reggiano PDO reaffirmed its ongoing commitment to becoming a global brand, adept at navigating the complexities of expansive markets rife with imitative products and consumer confusion at the point of sale. The Consortium is diligently working to accentuate the uniqueness of this PDO cheese, furnishing consumers with comprehensive information regarding product characteristics such as aging, provenance, production process, and flavor profile.
CHALLENGES AND OBJECTIVES FOR 2024
Nicola Bertinelli, President of the Consortium of Parmigiano Reggiano PDO, remarked, “In the foreseeable future, we must increasingly invest in growth within foreign markets, which are the future of Parmigiano Reggiano PDO. This necessitates ever-stronger partnerships between producers and traders equipped with robust sales networks and the capacity to navigate international markets. It’s evident that the United States plays a pivotal role in this scenario, hence we are particularly concerned about the outcome of the upcoming presidential elections in November, where protectionist policies may prevail. This year marks the Consortium’s 90th anniversary, yet we feel more energized and forward-looking than ever before.”
