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Summary and extracts

1 Market Overview

1.1 Definition and presentation

Wine is an alcoholic beverage produced through the total or partial fermentation of grapes, the fruit of the vine. Through the winemaking process, which takes place in the winery, the harvested grapes are transformed into wine. Different types of wine differ in both the grape varieties used and the processing methods, and are generally divided into five main categories: sparkling and sparkling wines, white wines, rosé wines, red wines and dessert wines.

Globally, the wine market represents a rapidly evolving economic sector. From 2020 to 2023, the value of the global wine market grew by 13.5 percent, from $339.53 billion to $385.24 billion, and is expected to reach $475.51 billion by 2028, marking an overall increase of 40 percent over 2020. Despite this growth, the industry faced significant challenges during the COVID-19 pandemic, which forced the prolonged closure of bars and restaurants. However, demand has shifted to e-commerce channels, fostering a shift in consumption patterns.

Italy remains a world leader in wine production, thanks to its wide variety of grapes and centuries-old tradition in the sector. In 2024, domestic production is expected to recover, with an estimated 7.1 percent increase over 2023, reaching 41 million hectoliters. Italian wine exports, valued at 8.4 billion euros in 2023, continue to be driven by markets in the United States, Germany, and the United Kingdom. In addition, the domestic market is experiencing significant trends, such as the growing popularity of organic wines, with Italy ranking second in Europe in terms of area planted with organic vines, and the spread of wines in cans.

In parallel, interest in alcohol-free or low-alcohol wines is emerging as one of the new frontiers of the market, with an estimated annual growth rate of 20.72 percent between 2023 and 2028.

Leading Italian wineries, such as Cantine Riunite & Civ, Gruppo Caviro and Marchesi Antinori, continue to lead the industry with strategies that combine tradition and innovation, demonstrating a growing focus on sustainability and quality. Thanks to a unique combination of tradition, excellence and capacity for innovation, Italy maintains a central role in the evolution of the global wine market.

Analyst's comment

The wine market is going through a transformation phase, in which wine tradition is increasingly combined with innovation and new consumption habits. The growth of e-commerce and the expansion of organic and low-alcohol wines show how the industry is responding to the growing demand for more sustainable and diversified products. However, export dependence and climate challenges are forcing a rethinking of production strategies, with a greater focus on crop resilience and adaptation to new markets. The future of the industry will depend on companies' ability to balance quality, sustainability, and innovation to maintain global competitiveness.

1.2 The global market

The global wine market represents a key sector in the global economy, with a long cultural tradition and increasing geographical and production diversification. Wine production and consumption are deeply rooted in the history of many countries, but in recent decades the global landscape has undergone significant changes, influenced by socioeconomic, climatic and cultural dynamics. Traditionally dominated by European countries such as Italy, France and Spain, the sector has seen the rise of new players, including the United States, Australia, Chile, Argentina and South Africa. These so-called "New World" wine countries have introduced technological innovations and modern approaches to viticulture and winemaking, contributing to increased competition and diversification of supply. Consumer tastes are also evolving, with growing interest in organic, natural and sustainable wines, reflecting greater environmental awareness. At the same time, Asian markets, particularly China, are emerging as strong growth areas, not only in terms of consumption but also production. The wine industry is strongly influenced by climatic and environmental factors, with climate change imposing new challenges on traditional viticulture. This has led to experimentation with resistant varieties, new terroirs and innovative agricultural techniques

The value of the world wine market has grown from **** to **** by **.* percent, from $***.** billion to $***.** billion. ...

1.3 The European market

The European wine market occupies a prominent position globally, with a unique combination of centuries-old tradition and production leadership. Countries such as Italy, France, and Spain dominate the sector withhigh-quality offerings and a wide variety of wines, but they face changing market dynamics and new competitive challenges. Globally, the sector is undergoing a phase of geographic diversification, with the New World (***) increasingly gaining a foothold in international production and trade. These countries, less constrained by historical regulations, are adopting more flexible and innovative strategies, focusing on advanced technologies and aggressive marketing, thus succeeding in gaining market share in major importing countries and attracting new consumers. Compared to these new players, the European market maintains a strong link with terroir and tradition, enhanced by strict appellations of origin (***) and production regulations geared toward quality rather than volume. This approach allows European wines to retain their unique prestige, but at the same time it can limit production flexibility and the adoption of technological innovations, partly slowing down their ability to compete with emerging markets. Another distinguishing factor is consumption. In Europe, wine has historically been part of food and social culture, but in recent years there has been a decline in per capita ...

1.4 The Italian Market

Considering the entire supply chain, the value of the Italian wine market increased by **.* percent between **** and ****, from ** billion to ** billion euros. Estimates show growth to ** billion in ****, an overall increase of **.* percent from ****.

Italian wine market value Italy,****-****,Billions of euros Horizon Grand View Research

The turnover of companies active in wine production in Italy has shown a **.* percent growth between **** and ****, from **.** billion euros to **.** billion euros. Should this trend continue, the forecast for **** indicates a further increase to **.** billion, confirming a positive dynamic in the sector. Trend in turnover of enterprises active in the Grape Wine Production sector (***) Italy,****-****,billion Istat

1.5 Import and Export

Italian wine exports grew by **.* percent between **** and ****, from €*.** billion to €*.* billion, while imports increased by **.* percent, from €*.*** billion to €*.*** billion. The coverage rate, after peaking in ****, fell gradually, indicating faster growth of imports than exports

Import and Export of Wine of fresh grapes, including liqueur wines; grape must other than that of **** entry (***) Italy,****-****,Billions of euros A Comtrade

In ****, the United States was the top destination market for Italian wine, with exports amounting to *.* billion euros, followed by Germany with *.** billion and the United Kingdom with *.*** billion. Switzerland and Canada were at lower values, *.*** billion and *.*** billion respectively, while France, the Netherlands, Belgium, Sweden and Japan recorded smaller amounts. The North American market is thus confirmed as central to Italian wine exports. Countries to which italy imported more Wine of fresh grapes, including fortified wines; grape must other than **** entry (***) Italy,****,Billion dollars A Comtrade Looking at imports, the top country is France, with a value of *** million euros, followed closely by Portugal (***). Germany and the Netherlands recorded imports of ** and ** million respectively, while the other countries show smaller values. The dominance of France highlights the strong demand for French wines in the Italian market. Countries from which ...

2 Demand analysis

2.1 Demand in Italy

Wine consumption in Italy is influenced by several factors, including household spending habits, consumption trends and market dynamics. In this section we will analyze trends in average wine spending, per capita consumption and total consumption to better understand the evolution of demand over time and possible implications for the sector.

The average monthly expenditure of Italian households on wine remained relatively stable between **** and ****, fluctuating between a low of €**.** in **** and a high of €**.** in ****. In **** it stands at **.** euros, showing a slight recovery from the previous year but remaining below **** levels.

Average monthly household expenditure on Wines (***) Italy,****-****,in current euros Istat Istat

Per capita wine consumption in Italy decreased by **.* percent between **** and ****, from **.* to **.* liters per year. The decline has been steady over time, with a more pronounced reduction in recent years, indicating a change in consumption habits.

Liters of consumption per capita Italy,****-****,Liters per capita *wines Total wine consumption in Italy declined by **.* percent between **** and ****, from **.** to **.** million hectoliters. The decline has been steady, accelerating in recent years, in line with the reduction in per capita consumption. Total wine consumption Italy,****-****,million hectoliters *wines

2.2 Demand drivers

Italians associate domestic wine above all with quality (***), remains a relevant value, indicating a growing attention to environmental aspects in the perception of Italian wine.

Values that Italians associate with Italian wine Italy,****,percentage Censis

In ****, **% of the elderly consider wine to be an element of expertise and culture, followed by adults with **.*%. Among young people, the percentage drops to **.*%, showing a lower association between wine and cultural tradition in the lower age groups. Italians for whom wine is also expertise, culture, by age Italy,****,percentage Censis **.*% of Italians consider wine not only for its taste, but also for its provenance, history and culture. This interest is more widespread among the elderly (***), while among young people it decreases to **.* percent, confirming less attention to the cultural dimensions of wine in younger age groups. Italians who are interested not only in the taste of wine, but in its origin, history, culture, by age Italy,****,percentage Censis **.*% of Italians believe that responsible wine consumption can be educated. This belief is more widespread among the elderly (***), while among young people the percentage drops to **.*%, suggesting less confidence in moderate drinking education in younger age groups. Italians for whom drinking wine in moderation and responsibility ...

2.3 Geographical distribution of household spending

In ****, the average household spending on wine in Italy shows a wide geographical gap. The Northwest regions record the highest value (***) show significantly lower spending. The map confirms this distribution: northern areas are shown in darker shades, indicating higher spending, while the South and Islands appear lighter, indicating lower levels of consumption.

2.4 Online interest in "Wine"

online interest in the term "wine" in Italy between **** and **** follows a seasonal pattern, with recurring peaks in November and December, reaching values of **.** in **** and **** and touching a high of **.** in November ****. In subsequent months, interest declines, stabilizing at lower values between January and June.

Online interest trend for "Wine" Italy,****-****,Google Trend Index Google Trends

In ****, online interest in the term "wine" in Italy varies significantly among regions. Trentino-Alto Adige records the highest value (***) also show strong interest. In contrast, regions such as Campania (***) have the lowest values, with the latter surprisingly showing less online attention than its historical wine relevance. The map confirms this distribution: northern regions appear in darker shades, indicating greater interest, while the Central-South and islands are represented in lighter colors, signaling less involvement in online wine research

Emilia-Romagna ** Umbria ** Marche ** Apulia ** Calabria ** Sardinia ** Basilicata ** Sicily ** Tuscany ** Molise ** Campania ** Veneto ** Friuli-Venezia Giulia ** Abruzzo ** Lombardy ** Liguria ** Latium ** Piedmont ** Trentino-Alto Adige/Südtirol *** Valle d'Aosta/Vallée d'Aoste **

2.5 New demand trends: the alcohol-free alternative

Consumer interest in alcohol-free and low-alcohol wines is growing, reflecting a shift in drinking habits and preferences. This trend is driven in part by increased health awareness, environmental concerns, and the demand for fresher, lighter beverage styles. Consumers, especially younger generations, are showing a growing interest in healthier and more responsible beverage options. However, creating alcohol-free and low-alcohol wines that maintain the sensory qualities of traditional wines is a challenge for producers, as the lack of alcohol greatly affects taste and texture. Despite this, companies such as BevZero are investing in de-alcoholizing techniques to preserve the complexity and balance of nonalcoholic products.(***)

In ****, the global alcohol-free wine market is estimated at $*.** billion. However, this market segment is expected to grow sharply between **** and ****, with a compound annual growth rate

(***) of **.** percent, under which the world alcohol-free wine market could reach a total value of $*.** billion by the end of the period.

Alcohol-free wine market World, ****-****, in billions of dollars ***Marketupdates

3 Market structure

3.1 The market structure

Between **** and ****, the number of enterprises active in wine production in Italy decreased by **.* percent, from **** to ****. However, a recovery is expected in **** with an increase to **** enterprises.

Number of enterprises active in the grape wine production sector (***) Italia,****-****,Migliaia Istat

Between **** and ****, the number of people employed in wine enterprises in Italy decreased by *.* percent, from **,*** to **,***. By ****, it is expected to recover with an increase to **,*** employed.

Employment in enterprises active in the Grape Wine Production sector (***) Italia,****-****,migliaia Istat

Limited liability companies are the most common form of business in the wine sector with *** units, followed by cooperative societies (***) are marginal.

3.2 the numbers of the production sector

The number of farms remained stable from **** to **** at ***,***, while the cultivated area increased by *.* percent from ***,*** to ***,*** hectares. The average size per farm increased slightly to *.** hectares from ****. The number of industrial enterprises remained unchanged at *,***, while industry employment remained constant at **,***. However, the number of farms with registered area per farm decreased by **.* percent between **** and ****.

Agea Inventory **** data by region and quality segment

Veneto leads the ranking by protected designation of origin (***) area, with **,*** hectares, while Veneto and Emilia-Romagna follow with *,*** and *,*** hectares, respectively. By number of municipalities involved, Puglia leads with **,***, followed by Sicily with **,*** and Sardinia with **,***. Some regions, such as Liguria and Valle d'Aosta, do not record data in any of the categories.

The number of awards by type and region

Piedmont is the region with the highest number of DOCG awards (***). For DOCs, Piedmont and Tuscany lead the ranking with ** designations each, followed by Lazio with **. In the PGI sphere, Puglia and Sardinia record the highest number with ** awards, followed by Veneto with **. Some regions, such as Valle d'Aosta and Molise, have a limited number of recognitions, while Calabria and Abruzzo have no DOCGs.

3.3 The main manufacturers

The following is a list of the main players active in the Italian wine market:

Wineries

Italian Wine Brands s.p.a: is an important wine group formed from the merger of Giordano Vini and Provinco Italia. These two companies, leaders respectively in the production and direct sale of Italian wines and in the production and distribution of wines on international markets for large-scale organized distribution, have formed a group that today is listed on AIM Italia, a market of the Italian Stock Exchange dedicated to small and medium-sized Italian companies aiming to invest in their own growth. It has a significant presence in both domestic and international markets, expanding its production offerings and customers, and diversifying its territorial sales. The company is also committed to environmental sustainability, with a focus on defending biodiversity in the vineyard, safeguarding the wooded heritages surrounding the estates and vineyards, and the judicious use of water to avoid its waste. Italian Wine Brands has also acquired Enoitalia, founded in **** and controlled by the Pizzolo family, which has recorded significant revenues and contributed to the group's expansion in international markets, particularly in the United Kingdom and the United States.

Argea s.p.a: is a newly ...

3.4 The value chain

3.5 The wine-growing surface area

The area under vines in Italy increased from **** to ****, from ***.* to ***.* thousand hectares, a growth of *.* percent. After a slight decline in ****, the trend has been generally positive, with an acceleration starting in ****.

Area planted with vines Italy, ****-****, in thousands of hectares Istat

In ****, most of the area planted with vines in Italy is intended for the production of PDO wines, which account for ** percent of the total. PGI wines cover **.* percent, while the remaining **.* percent is devoted to other wines not classified as PDO or PGI. This shows a strong orientation of the sector toward certified quality, with more than ** percent of the area devoted to wines with geographical indications.

Area planted with vines, breakdown by type of wine Italy, ****, % Istat

4 Supply analysis

4.1 Type of the offer

In Italy, wine production is distinguished by its diversity and quality, with a wide range of types that vary in color, body, taste, and production methodology.Each grape variety gives the wine unique characteristics, both in terms of aroma and taste, which are further influenced by the specific terroir and winemaking techniques adopted in each region.The two major categories of Italian wine are red wines and white wines, which in turn are divided into still and sparkling wines.

Red wines

Still red wines: these wines are known for their full body, intense flavors and long persistence. They are typically more tannic and have flavors ranging from fruity to spicy. They are ideal with rich, flavorful foods such as red meats, game and aged cheeses. Some of the most widely used grape varieties include: Sangiovese: used for wines such as Chianti and Brunello di Montalcino. Nebbiolo: grape variety for Barolo and Barbaresco. Barbera: commonly used in Piedmont to produce Barbera wines. Montepulciano: main grape variety for Montepulciano d'Abruzzo. Aglianico: used in southern Italy, especially for Taurasi and Aglianico del Vulture.

Sparkling red wines: these wines have a carbon dioxide content that makes them slightly effervescent. They are generally lighter and more ...

4.2 The prices

Wine price trends in Italy show changing dynamics in both the short and long term, reflecting economic and market factors.

The monthly trend of the consumer price index for wines in **** shows an initial fluctuation with a peak in February (***), followed by a phase of relative stability until September. From October onward, a more pronounced decrease is observed, with the value falling to ***.* in December. Overall, compared to January, the decline is *.* percent.

Consumer price index for the whole community - monthly data for Wines Italia,****-****,(***) Istat

This trend is part of a broader context highlighted by the annual comparison. After significant growth between **** and ****, peaking at ***.*, **** shows a slight decline to ***.* (***). This suggests that, while remaining at high levels, wine prices are showing signs of stabilizing or slightly declining after the sharp increase in previous years.

Consumer price index for the whole community - annual averages for Wines Italy,****-****, (***) Istat

4.3 Some examples from the market

Most exchanged bottles

Bottles that grew the most in value

[***]

4.4 The supply in terms of production

Total wine grape production decreased by **.* percent between **** and ****, from **.** to **.** million quintals. There is a slight recovery in ****, with a *.* percent increase from the previous year, reaching **.** million quintals.

total wine grape production Italy,****-****,million quintals Istat Grape production for PDO wines dropped by **.* percent between **** and ****, from **.** to **.** million quintals. There is a *.*% recovery in ****, with production rising to **.** million quintals. total grape production for dop wines Italy,****-****,million quintals Istat Grape production for PGI wines decreased by **.*% between **** and ****, falling from **.** to **.** million quintals. In ****, there is a slight recovery of *.* percent, increasing to **.** million quintals. total grape production for igp wines Italy,****-****,million quintals Istat Grape production for non-PDO and non-PGI wines decreased by **.*% between **** and ****, from **.** to **.** million quintals. In **** there is a recovery of **.* percent, increasing to **.** million quintals. total grape production for other wines (***) Italy,****-****,million quintals Istat Wine production in Italy by region In ****, wine production in Italy is expected to grow by *.* percent compared to ****, reaching ** million hectoliters. The regions with the highest estimated growth are Molise (***). Veneto, the main producing region, keeps its volume stable at **.** million hectoliters. Region Average **-** (***) **** (***) ***** (***) Var.% Piedmont *.*** *.*** *.*** **,*% Aosta Valley ** ** ** -**,*% Lombardy *.*** *.*** *** -**,*% Trentino-Alto ...

4.5 New supply trends: the rise of Canned Wine

The canned wine market is experiencing remarkable growth, driven by several key factors that respond to changing consumer preferences. Key drivers of this trend include the growing demand for convenient, portable, single-serve beverage options. Canned wines offer a lightweight and easily transportable solution compared to traditional glass bottles, making them particularly attractive to consumers seeking flexibility in their beverage choices, whether for outdoor activities, events, or simply on-the-go lifestyles. In addition, the canned wine market has benefited from a broader cultural shift toward sustainability and environmental awareness. Aluminum cans are lighter than glass bottles, resulting in lower transportation emissions and a reduced overall carbon footprint. In addition, aluminum is highly recyclable, aligning with the growing green mindset of consumers who favor sustainable packaging options. The perception of wine in a can has transformed from being associated with inferior beverages to a symbol of innovation and quality. Many reputable wine producers are now adopting this format, offering premium wines in cans. This shift has helped change consumer attitudes and overcome traditional barriers, making wine in cans more acceptable and attractive to a diverse audience.(***)

By ****, the global market for canned wine reached a total value of more than $*.* billion. As in the ...

5 Regulations

5.1 The legislation

The wine market, as well as other sectors of the agri-food industry, is subject to regulation by both national and European regulations. The various laws are aimed at ensuring the quality, safety and origin of the product. Some of the main legislative issues pertaining to the wine market are:

Law No. *** of December **, ****: establishes the organic regulation of vine cultivation and wine production and trade (***). Regulation (***) ****/****: on the definition, description, presentation, labeling and protection of geographical indications of aromatized wine products. Delegated Regulation (***) No. ****/**** of the European Parliament and of the Council as regards the wine-growing areas in which the alcoholic strength may be increased, the authorized oenological practices and applicable restrictions on the production and conservation of wine products, the minimum percentage of alcohol for by-products and their elimination, and the publication of OIV sheets. Commission Regulation EU No. ***/****: laying down detailed rules for the application of Council Regulation (***) No. ***/**** on the common organization of the market in wine with regard to support programs, trade with third countries, production potential and controls in the wine sector. EU Delegated Regulation ***/****: concerning (***) the vineyard register, compulsory declarations and market control information, documents accompanying the transport of products and record keeping in the ...

5.2 Conclusion

The wine market has been growing steadily globally, from $***.** billion in **** to a projected $***.** billion by ****, a CAGR of *.* percent. The pandemic has accelerated key trends, such as therise of e-commerce and interest in organic and sustainable wines, with demand growing strongly in Asian and U.S. markets.

In Europe, the sector is still dominated by Italy, France and Spain, which maintain leadership in terms of quality and tradition but face challenges related to sustainability and climate change. In Italy, the market reached €** billion in ****, marking a **.* percent growth over ****, and is expected to touch €** billion by **** (***). The country remains a world leader in production, with a forecast of ** million hectoliters by ****, and maintains a strong export vocation, with the United States, Germany and the United Kingdom absorbing about ** percent of Italian exports.

Italy is a central hub for the wine sector, thanks to a wide variety of production: ** percent of the cultivated area is dedicated to PDO and PGI wines, with key regions such as Veneto, Tuscany and Sicily leading production. However, domestic consumption is declining, with a per capita reduction of **.* percent from **** to ****, although average household spending remains high in northern Italy. Among the main demand drivers, Italians ...

6 Positioning of actors

6.1 Segmentation

  • Italian Wine Brands
  • Argea
  • Casa Vinicola Zonin
  • Marchesi Antinori
  • Cantine Riunite&Civ
  • La Marca Vini e Spumanti
  • Gruppo Caviro
  • Cavit

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