The Parmigiano Reggiano Consortium has reported an 'all-time high' consumer turnover of €2.9 billion in its financial year 2022, registering an increase of over 6.9% from €2.7 billion in 2021.
In this period, production increased by 2.6% to 156,620 tonnes from 152,690 tonnes in 2021.
The consortium released its annual performance figures for 2022 at a press conference at Palazzo Giureconsulti in Milan.
Parmigiano Reggiano claims that volumes on international markets were also at their best, growing by 3%, from 62,351 tonnes in 2021 to 64,202 tonnes in 2022.
'A True Global Brand.'
The Parmigiano Reggiano market is becoming more and more international, with the export shares increasing by two percentage points to 47%, the consortium noted.
The Italian share stands at 53% and in terms of distribution channels, GDA (Global Distribution Alliance) remains the first at 62.3%, followed by industry at 17.5%). Direct sales from dairies recorded an increase of 5.3%.
With a total investment of €18.6 million earmarked for market development in 2023, Parmigiano Reggiano claims its is on the way to becoming 'a true global brand.'
The Consortium added that it is working diligently to enhance the distinctiveness of the PDO, providing the consumer with more information on its characteristics, such as maturing, origin, production process and taste, all details that offer the opportunity to differentiate from competitors.
New Market Outlets
“We must continue to keep Parmigiano Reggiano at a competitive price, so that it is accessible to families, and to defend the profitability of companies, which have already suffered from the increase in production costs," said Nicola Bertinelli, president of the Consortium.
"This economic uncertainty must be governed together, moving from the logic of the single dairy to that of the 'noì of the Consortium, to create new market outlets and guarantee the future of the PDO."
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© 2023 European Supermarket Magazine – your source for the latest fresh-produce news. Article by Robert McHugh. Click subscribe to sign up to ESM: European Supermarket Magazine.