Wine, in 2024 Italy regains first place in production, exports grow by over 5%

In 2024, Italy regained first place in the world in wine production : with 44 million hectoliters produced, it recovered from the fall in production in 2023, caused by extreme weather events that fueled the spread of downy mildew. The 2024 harvest showed a good recovery, recording an increase of 15%, although it was 6% below the average of the previous 5 years. In terms of exports , Italy ranks second in the world with a market share in value of 22%; while at the top is France with a market share of 34.5%; in quantity, however, Italy weighs in at 21.7% and is slightly surpassed by Spain's 22%. This is what the Report of the Research Department of Intesa Sanpaolo, edited by Stefania Trenti , Head of Industry and Local Economies of the bank, reveals.

The analysis shows that 2024 closed with 8.1 billion euros of Italian wine exports , an increase of 5.5% compared to 2023. For wine, the first destination market is the United States, with over 1.9 billion in 2024 (+10.2% compared to 2023). It is followed by Germany (almost 1.2 billion, +3.7%) and the United Kingdom (851 million, +1%). For the agri-food sector as a whole, exports in 2024 grew by 8.3% at constant prices, reaching 67.5 billion euros.

But it is above all in terms of biodiversity that Italy has its primacy: in fact, according to a study by the International Organization of Vine and Wine (OIV), 75% of the national vine is covered by 80 native vines; Portugal follows with 40 vines, while France and Spain stop at 15. This biodiversity translates into another advantage for Italy, which is the European country with the highest number of DOP/IGP certifications : 528, while France stops at 442.

the report highlights how the impact of US duties can be significant: the wine supply chain is among those most exposed to the American market, with about a quarter of exports directed overseas. However, according to an internal survey conducted by Intesa Sanpaolo on specialists who support branches in internationalization processes, among the reactions that companies are evaluating, about half of the respondents indicate the search for new customers in new markets, and a third indicates the possibility of opening commercial or production branches in the USA. A certain wait-and-see attitude is also noted in postponing the timing of investments , and about 20% also indicate the possibility of reviewing price lists for the US market .

A quarter of respondents, however, noted an acceleration of deliveries and sales in the United States to anticipate the entry into force of the duties. In the first quarter of 2025, Italian wine exports to the USA grew by 12.5% ​​in value, better than France, +11.4%, and Spain, +3.2%. In quantity, the increase was 3.8%, against Spain's +4.8%, while France recorded a decrease: -3.2%.

The analysis also highlights the fragmentation of the wine sector : Italian producers are smaller than their international competitors; 35% of Italian wine companies have less than 5 hectares, while in France they are only 7%, and this makes it more difficult to create a system. A generational transition issue also emerges: approximately 10% of Italian wine companies have a board composed exclusively of over-65s, while only 5% are entirely managed by under-40s. The results of companies managed by young people are better both in terms of turnover growth and profitability.

Other points to take into account, according to the Intesa Sanpaolo report, are the competition of the main international competitors, the declining consumption that leads to the need to intercept or stimulate new consumer segments, the climate change that is modifying the geography of wine producing countries, moving increasingly towards the north while the territories of the south are increasingly at risk of desertification.

Again according to the results of a survey conducted by the branches specialized in Agribusiness, the wine supply chain is among those most impacted by the risks deriving from atmospheric events . Investing in innovation can prove strategic, focusing on the selection of more resistant vines and exploiting the opportunities offered by digitalization and robotics.

Even more great opportunities may come from foreign markets, where Italian wine is already highly appreciated but still shows potential, for example in China where French products dominate today. Wine tourism is growing, thanks also to the ability to stimulate new consumption opportunities through the link with the territory.