According to a survey by the Italian industry portal WineNews, 35% of wine companies in Italy expect a revenue decline for 2024 compared to the previous year. 40% anticipate stagnation in sales, while only 25% expect growth.
The survey included 20 “leading Italian wine companies”, which together generate over €2bn in annual revenue. These companies ranged from "small, well-known businesses to large, structured groups, prestigious wineries, and cooperatives".
Most companies predicting a revenue loss expect a decrease of about 4%, with some estimates reaching as high as a 10% drop. On the other hand, those anticipating growth expect increases of 2 to 5%, with a few forecasting up to 9%. These trends largely align with the sales performance reported by these companies in the first three quarters of the year.
The outlook on the domestic and international markets varies among Italian wine companies. In the domestic market, 25% of companies reported stable sales in the first nine months of the year, 35% saw growth, and 40% experienced a decline compared to 2023. On the international market, half of the respondents reported steady sales, 15% indicated revenue growth, and 35% reported losses.
When asked about their future concerns, 85% of companies cited the continuation of economic and geopolitical difficulties and their impact on wine consumption. Half of the companies fear an increase in consumption of non-alcoholic alternatives, particularly among younger people. The effects of climate change and health policies were identified as concerns by 40% of companies each. 35% are worried about rising costs, and 20% mentioned the labor shortage. Only 10% cited bureaucracy as a concern, a stark contrast to earlier surveys where bureaucracy was considered one of the biggest barriers for businesses, according to WineNews. VM
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