Italy: Wine Market 2024

Wine Market Size in Italy

The Italian wine market declined slightly to $X in 2021, waning by -3.1% against the previous year. The market value increased at an average annual rate of +5.0% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market reached the peak level at $X in 2018; however, from 2019 to 2021, consumption remained at a lower figure.

Wine Production in Italy

In value terms, wine production contracted to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.5% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2017 with an increase of 37%. As a result, production reached the peak level of $X. From 2018 to 2021, production growth remained at a lower figure.

Wine Exports

Exports from Italy

In 2021, wine exports from Italy amounted to X litres, with an increase of 6.8% compared with 2020 figures. Over the period under review, exports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when exports increased by 8.8%. The exports peaked in 2021 and are likely to see gradual growth in years to come.

In value terms, wine exports surged to $X in 2021. The total export value increased at an average annual rate of +3.8% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Germany (X litres), the United States (X litres) and the UK (X litres) were the main destinations of wine exports from Italy, together comprising 54% of total exports. France, Canada, Switzerland, Belgium, the Netherlands, Russia, Sweden, Austria, Denmark and Japan lagged somewhat behind, together comprising a further 28%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Belgium (with a CAGR of +10.3%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for wine exported from Italy were the United States ($X), Germany ($X) and the UK ($X), with a combined 50% share of total exports. These countries were followed by Switzerland, Canada, France, the Netherlands, Belgium, Sweden, Denmark, Japan, Russia and Austria, which together accounted for a further 32%.

Among the main countries of destination, Belgium, with a CAGR of +10.9%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average wine export price amounted to $X per litre, increasing by 9.7% against the previous year. Over the last nine-year period, it increased at an average annual rate of +3.4%. The growth pace was the most rapid in 2018 an increase of 19% against the previous year. The export price peaked in 2021 and is expected to retain growth in the near future.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Switzerland ($X per litre), while the average price for exports to Germany ($X per litre) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to France (+8.0%), while the prices for the other major destinations experienced more modest paces of growth.

Wine Imports

Imports into Italy

In 2021, overseas purchases of wine increased by 77% to X litres, rising for the second year in a row after two years of decline. Over the period under review, imports continue to indicate a relatively flat trend pattern. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, wine imports surged to $X in 2021. The total import value increased at an average annual rate of +2.6% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Spain (X litres) constituted the largest supplier of wine to Italy, with a 70% share of total imports. Moreover, wine imports from Spain exceeded the figures recorded by the second-largest supplier, France (X litres), sevenfold. The third position in this ranking was held by South Africa (X litres), with a 6.7% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Spain was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: France (-0.4% per year) and South Africa (+57.4% per year).

In value terms, France ($X) constituted the largest supplier of wine to Italy, comprising 62% of total imports. The second position in the ranking was held by Spain ($X), with a 19% share of total imports. It was followed by Germany, with a 5.6% share.

From 2012 to 2021, the average annual growth rate of value from France stood at +5.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (-1.0% per year) and Germany (+11.4% per year).

Import Prices by Country

The average wine import price stood at $X per litre in 2021, shrinking by -14.8% against the previous year. Over the period under review, import price indicated a perceptible increase from 2012 to 2021: its price increased at an average annual rate of +2.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, wine import price decreased by -31.2% against 2019 indices. The most prominent rate of growth was recorded in 2016 when the average import price increased by 54%. Over the period under review, average import prices hit record highs at $X per litre in 2019; however, from 2020 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was France ($X per litre), while the price for South Africa ($X per litre) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+21.1%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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