From wine and cheese to pasta and olive oil, Italy’s food and beverage sector is conquering global palates at an unprecedented pace. Exports grew by 9.3% in the first seven months of 2024, putting the industry on course for a record-breaking year.
If the trend holds, food and beverage exports could hit €57 billion by year-end, adding €4.8 billion to last year’s total of €52.2 billion, according to Federalimentare’s Research Center. Factoring in the agricultural sector’s expected €11 billion, Italy’s agri-food exports could reach €68 billion, tantalizingly close to the long-sought €70 billion mark.
“This is an extraordinary achievement in a global context where trade has grown by just 1.6% year-on-year,” the Center noted, emphasizing the sector’s vital role in bolstering Italy’s economy over the past decade.
Wine remained the star performer, generating €5 billion in export revenue between January and July. Confectionery followed with €4.3 billion, while dairy (€3.4 billion), olive oil (€2.6 billion), pasta (€2.5 billion), and processed vegetables (€2.5 billion) also saw strong demand.
The United States emerged as the fastest-growing market, with exports climbing 19.7% to €4.4 billion, representing 13.5% of Italy’s global food export share. Germany, however, held its top spot with €4.6 billion (+5.3%), accounting for 14.2% of the market. Other major markets showed solid gains, including Spain (+9.2%), the UK (+7%), and France (+4%).
