Italian Wine Exports Set New Record In 2017
Italian wine exports grew by 7% in 2017, reaching a record high of around €6 billion, according to farmers' association Coldiretti.
The figures indicate that there was growth in both value and volume of wine exports, despite a poor harvest that resulted in a 26% drop in production compared to the previous year.
However, Italy is still the world's leading producer of wine, ahead of France, generating about 40 million hl annually.
In terms of exports, the US is the main consumer of Italian wines, with sales growing by 6% in value last year. This is followed by Germany (+3%) and the UK (+8%).
The highest level of growth last year was achieved in Russia (+47%), while China saw growth of 25%, although the presence of Italian wine in these markets remains limited compared to French competitors.
The main driver of growth in Italy last year was sparkling wines, which saw a 15% increase in value in 2017, with sales reaching nearly €1.2 billion.
Another positive trend is the increase of wine consumption by Italian households, driven by DOC (+5%), IGT (+4%), and sparkling wines (+6%).
However, average Italian wine consumption per person, which stands around 33 litres per year, still lags behind France, where the figure is much higher at around 45 litres.
© 2017 European Supermarket Magazine – your source for the latest retail news. Article by Branislav Pekic. Click subscribe to sign up to ESM: The European Supermarket Magazine