Redazione

🍷 Italian wine market prepares to close 2024 with mixed performances between exports and domestic sales. Nomisma Wine Monitor predicts a 4% increase in Italian wine exports, exceeding €8 billion for the first time. However, domestic market, particularly in the modern channel, sees a 1.5% sales volume decrease in the first nine months, unlikely to recover by year-end. Exports are driven by Prosecco, representing 2 out of 10 exported Italian wine bottles. Geopolitical and economic factors influence the market, with diversification seen as a response to global uncertainties. Notably, the third quarter of 2024 reports a -2.6% aggregated decline in wine imports across major global markets, yet China and Brazil show significant growth, with a 27% increase in Chinese imports due to lifted tariffs on Australian wines. Italian wine values grow in the United States and Canada, and Italian sparkling wines excel in Australia, France, the US, Canada, and the UK. Domestic challenges persist despite the export segment's positive signs, with still wines and sparkling wines struggling and consumers opting for cheaper generic sparklings amidst inflation. Future prospects hinge on export diversification, with emerging markets like Austria, Ireland, Brazil, Romania, Croatia, and Thailand recording double-digit growth.