USA, imports from Italy are growing (slightly), but wine sales are decreasing (-9.5%)

Positive signs for imports from Italy, but wine sales continue to slow down (Italian and not only, with the exception of Chile), in the United States, the first market for Italian sales abroad, with a value that in 2023 approached 2 billion euros. On the one hand, the slightly positive sign of quarterly imports from overseas (volumes +1.1%), on the other, a further decline in consumption in the US off and on-trade channels. According to the Osservatorio Unione Italiana Vini- Uiv, on a SipSource basis, which measures sales in 75% of US commercial establishments, March 2024 (at -13%) has further worsened the quarterly picture which sees Italian wine consumption at -9.5% on the already complicated start of the previous year. A trend, the Italian one, which is similar to the overall wine purchases in the world’s largest market, which is in contraction, on average, by more than 10% (-10.3% for France, -11.3% for US wines, -12.2% for Australia, -15.3% for Argentina, while they are still negative, but do better than average, New Zealand, Spain, Germany, Portugal and South Africa, with Chile, at +6.5%, the only country to grow in the first three months of 2023).
“In a context of declining trend that has persisted since last May, all types of Italian products pay a price - explains a note - starting from whites (-11.5%), as well as reds (-8%) and sparkling wines ( -6%). Among the main denominations, double figures drops for Barolo, Chianti Docg and Pinot Grigio. Prosecco is also down (-4.5%), while consumption of Asti Docg is stable, Chianti Classico is growing slightly and Brunello di Montalcino is rising in double figures”.
A complicated start to the year on the tables, but stable at customs, which signaled a mini-recovery in orders in the first quarter with volumes at +1.1% (80 million litres) and values at +2.6% (508 million dollars) after 2023 closed at -13%. In this period, sparkling wines decreased in volume by 4.6%, while bottled wines recorded a +0.6%. The overall data records a regression in March on the first two months, which closed with an increase of almost 3% of bottles headed to the USA.
“The hope - said the UIV general secretary, Paolo Castelletti - is that we can stop a spiral created by a mix of cyclical and structural factors, and the refill of orders at the beginning of the year can be a good sign as long as consumption supports them. A determining factor for the medium-long term - he added - is that of promotion, with OCM funds remaining strategic for a market still with high potential such as the United States. The Ministry of Agriculture is in the process of presenting the new announcement well ahead of previous years and this in itself is excellent news for wine companies”.