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Italy Wine Report 2023: Challenging Season for Italian Producers

Sparkling Wine

Published Nov 10, 2023

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Italy, the largest wine producer in the world, produced 49.8 million hectolitres (mhl) of wine from the 2022 harvest. However, the 2023 harvest is estimated to be 43.9 mhl, 12% below 2022 and 13% below the five-year average. The primary reasons for this decrease is heavy rain, flooding, wildfires, windstorms, and hailstorms which characterized the 2023 Italian growing season. If this estimate is realized, Italy will lose its title as largest wine producer to France.

However, this provides Italy with the opportunity to reduce its wine stocks which have increased by 11% over the past and are up 4.5% from 2022, creating an oversupply problem for Italy. Although the 2023 harvest is providing a momentary reprieve, Italy will continue to face oversupply situations in the future. This is a concerning scenario for the Italian wine industry which is facing declining domestic consumption as well as a shrinking global wine market. Crises distillation can provide a short-term solution to the oversupply problem, but Italy will likely see a reduction in the area under wine grape production in the coming years to reduce the oversupply issue in the long term.

Key Takeaways ….……………………………….…………………………………………………………………………. 5

Part I - Italian Wine Market Overview ………….………………………………………………………..……..... 6

- Surface Area

- Production

- Consumption

- Export Volume

- Export Value

Part II - Italian Wine Regions ….………………….………………………………………………………………… 10

- Veneto

- Tuscany

- Piedmont

- Emilia-Romagna

- Sicily

- Puglia

- Abruzzo

- Friuli-Venezia Giulia

- Lombardy

- Trentino-Alto Adige

Part III - Italian Red Grape Varieties ………………………………………………………………………..…… 14

- Sangiovese

- Montepulciano

- Merlot

- Barbera

- Glera

- Pinot Grigio

- Trebbiano

- Chardonnay

Part IV - Taste and Positioning of Italian Wine ….……………………………………………………..……. 17

- Taste of Italian Wines

- Red Wines

- White Wines

- Rosé Wines

- Sparkling Wines

- Fortified Wines

- Positioning of Italian Wines

- Premium Wines

- Price

- Export Locations

Part V - Trends in the Italian Wine Industry ….……………………………………………………..……… 22

- Global Downturn in Wine Consumption

- Global Consumption

- Italian Oversupply

- Ageing Wine Drinking Population

- Lower Overall Consumption

- Older Wine Drinkers

- Future Problem For Domestic Consumption

- Growth in Sparkling Wines

- COVID-19

- Growth

- Opportunity in the US

- Reduced Tariffs in the UK

Part VI - Italian Wine Outlook 2023 and Tridge Insights ….………………….………………..…….. 26

- Italian Wine Outlook 2023

- Weather

- Harvest

- Market Conditions

- Prices

- Tridge Insights

- Global Downturn in Consumption

- Italian Oversupply

- 2023 Reprieve

- Future Scenarios

Part VII - Fun Facts About Italian Wine ….………………….………………………………..………………. 29

- Ancient Roots

- Varietal Diversity

- Large Producer and Consumer

- DOC and DOCG

- Expensive Veneto

- UNESCO World Heritage Sites

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