Italian wine on the US consumer market is worth 4 billion euros. France is leading

With 330 million inhabitants and a per capita GDP (Gross Domestic Product) of 63,358 dollars, the United States remains the world’s largest economy, at least in terms of consumption. Including wine, despite a drop in Italian exports in the first five months of 2023 (here). With 34 million hectoliters (OIV data), the North American country is by far the undisputed leader in global wine consumption, accounting for 15% of global consumption. The United States, on the other hand, is the world’s fourth largest producer, with 22.4 million hectoliters, 85% of which are produced by California vineyards, and a single company capable of representing 23.7% of total “stars and stripes” production: Ernest & Julio Gallo Winery.
Wine imports exceeded 6 billion euros in 2022, with France as the leading supplier, and a consumer market value of 4.9 billion euros, accounting for 25.6% of total wine imports. Italy comes in second, with a market share of 21.2% and a consumption turnover of 4 billion euros, exactly like New Zealand. Spain is fourth, with 1.26 billion euros (6.6%), slightly more than Australia, which has 1.25 billion euros (6.5%).
After all, the final consumer price of a wine imported into the United States is nearly three times the price at which the bottle leaves the cellar. On a 4 euro bottle (4.39 dollars), for example, add 1.5 dollars shipping and insurance, 0.05 dollars customs, 0.21 dollars federal excise, 0.06 dollars label, 0.023 dollars in port and logistics fees, for a price that thus reaches 6.52 dollars in the first step of the “three-tier system” alone. To this must be added also a margin, usually 30%, for the importer, a further 30% for the distributor and another 30% for the reseller, plus obviously the VAT, which varies from State to State (in New York, for instance, it’s 8.87%), and the total price comes to 15.51 dollars.
Overall, the United States spends far more on spirits, with imports approaching 9 billion euros in 2021, with beer coming in third at 5.4 billion euros. In terms of consumption, beer, as one might expect, accounts for the lion’s share (77.4%), followed by wine (14%), and spirits (8.6%).