Destocking slows Italian sparkling wine orders in U.S., but consumption rises

Around the world, Italian sparkling wines continue to make their mark despite the fact that the period is not the best as far as the international wine-related market is concerned. A balance that sees a 14% drop for the volumes of Italian sparkling wines shipped to the United States in 2023, but not that of the actual consumption of Italian sparkling among US shelves and venues, which instead turn on a green light. This is noted by the Uiv (Unione Italiana Vini) - Vinitaly Observatory recording the generalized setback in U.S. imports after a triumphant ride that lasted 15 years (Covid year aside) with sales rising by almost 100%. But according to Uiv-Vinitaly this is not the end of a love affair. From cross-referencing data between orders, held back by destocking, and actual consumption, the difference is huge: monitoring actual purchases in fact marks further growth (+1.7%) for the Italian sparkling wine sector in 2023, as opposed to domestic, French and Spanish sparkling wines, whose difficulties are widely confirmed.
“We aim to go along with this situation of competitive advantage of our sparkling wines”, said Veronafiere CEO Maurizio Danese, “both with the roadshows in Houston and New York and directly at Vinitaly 2024 (Verona, April 14-17), with the highest contingent of selected buyers and a target of selected presences at the fair from all the main U.S. macro-regions”. Vinitaly Roadshow lands, in the U.S., with appointments in Houston (March 4) and New York (March 7). The format, in collaboration with wine writer Ian d’Agata, includes in both cities in the USA a walk-around tasting and masterclasses moderated by the same wine writer together with some of the most famous experts in the United States.
According to the Uiv-Vinitaly Observatory based on SipSource, a platform that monitors purchases in large-scale distribution, stores, clubs and restaurants in the stars and stripes, Italian sparkling wines now account for a third of Italian purchases, with a trend growth in volumes in the last year of 1.7%, thanks in particular to a further leap (+4%) in consumption in the “out of home” channel. This figure is also confirmed by retail and large-scale distribution, where NielsenIQ-based elaborations report an increase of 2% in volume and 5% in value (to 820 million euros), with Prosecco even +10% (591 million euros). The situation for competitors is different, with sparkling consumption falling by 7% overall. In 2023, the analysis concludes, an unprecedented asymmetrical relationship between actual consumption and U.S. imports has emerged, with Italian wines substantially holding up better to the impact of the crisis and destocking precisely because of sparkling wines.