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Issue 612 - January 16th - 20th 2023 - Expressly created for 4.429 wine lovers,
professionals and opinion leaders from all over the world |
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The Italy of wine once again on the podium of “Wine Spectator”. Which placed Villa Antinori Igt Toscana 2019, the historic label of the Marchesi Antinori, in third place in its “Top 10 Values 2022”, the best wines in terms of quality/price. Behind the Napa Valleys of Beaulieu Vineyard and Decoy. Therefore, another podium for Italy (after n. 2, in the “Top 100 2022”, of Brunello di Montalcino Riserva 2016 by Fattoria dei Barbi), with Antinori already at n. 5 of the “Top 100”, with the Tignanello 2019. Once again reconfirming itself capable of expressing great and recognized quality both in the restricted segment of fine wines and in the more “pop” one. |
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Italian wine exports in 2022 are set to exceed 8 billion euros, according to any kind of forecast, and Istat data on the first 10 months of last year, analyzed by WineNews, basically confirm the growth rates recorded since the first months of the year, with shipments reaching 6.52 billion euros, up 11.2% over the same period in 2021. A mirror-image increase to that of inflation recorded in Italy in October (+11.8%), the result of a positive dynamic of the average price, given that in volume terms the figure for the first 10 months of 2022 is identical to that of the same period in 2021: 18 million hectoliters. In order to understand whether Italian wine has been able to anticipate - at least on foreign markets - what will be a necessity for every production sector in this 2023, namely to raise prices to absorb the increase in energy and raw material costs, it would be interesting and useful to know the composition of the export “basket”, and thus understand whether it is a real increase in the average price, or whether instead imports have involved higher quality wines. Looking at the markets, the 28 countries of the European Union are worth just under half of the shipments of Italian wine in the period: 3.2 billion euros (+12.1%). An important response from what, according to forecasts, will be the area in greatest difficulty in the coming months. Obviously, the economic driving force will still be Germany, where Italian wine shows a growth of +5%, to 955 million euros. Great Britain also continues to run, despite the slowdown in the pound, which has reached 667 million euros in imports (+13.5%). It is worth to mention also the figure for Ireland, which has been in the eye of the storm for days for the decision (endorsed by the EU Commission) to include “health warnings” on the labels of spirits, including wine: in the first 10 months of 2022 it imported 38 million euro of Italian wine, +20%. The point of reference in the world, however, is overseas, in the United States which, in the period, imported 1.59 billion euros of Italian wine (+8.8%), while only Japan runs in Asia, with 172, 4 million euros of imported wine: +29.3% (data in more detail).
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Science is sometimes required to demonstrate and reaffirm what common sense and empirical evidence have already affirmed and demonstrated over millennia. In other words, rather than fear and prohibition, the key to physical and mental well-being is moderation and education. This also applies to wine, which today risks being penalized in the broader context of alcohol. The message was reiterated in Naples at the Symposium on “Wine and Health, Between Consumption and Well-Being”. This came just in the days when the European Commission, authorized Ireland to include “health warnings” on the labels of alcoholic beverages, similar to cigarette packs. Various researchers, doctors, and personalities have expressed their views on the subject, such as Luigi Moio, Luc Djoussè, and Pierre-Louis Teissedre to name a few (in more detail). |
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The wine sector, and the agribusiness sector more generally, is turning out to be more and more attractive, so much so that, in 15 years (2005-2020), the number of funds making investments in agribusiness has grown 15-fold. In the wine sector alone, it’s up to $8 billion in transactions by 2021, from Oregon to Australia, from France to Italy-a real boom, if you consider the $1.8 billion by 2021, according to estimates by Cbre, a world leader in commercial real estate advisory and investment. Between 2016 and 2022, 147 transactions exceeding one million euros were recorded, for 2.1 billion euros transacted and an affected area of 12,700 hectares of vineyards, and the value of transactions between Italian rows rose from 226 million euros in 2019 to 496 million euros in 2021 (+119%). The Region capable of attracting the greatest number of investments was Tuscany, with 38% of transactions, followed by Piedmont (19%), Veneto (11%), Sicily (8%), essentially Etna, Lombardy (7%) and Friuli Venezia Giulia (5%). In terms of denominations, Brunello di Montalcino stands out in first place, where 16.1% of all transactions passed, followed by Barolo (8.4%), Prosecco (7.7%), Etna (7.1%), Chianti Classico (6.5%), Bolgheri (5.8%), Amarone della Valpolicella (5.2%) and Barbera d’Asti (4.5%). |
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A good way, to take further stock of 2022 of Italian wine, with an eye to 2023 that has just begun, observing it from another observatory, that of the bottlings of the 220 appellations certified by Valoritalia, which represent more than 60% of quality Italian wine, from which a picture emerges with decidedly less gloomy hues than expected. Compared to 2021, the final result shows a negative balance of -3.42%, but +4.72% higher than the average for the three-year period 2019-2021, with different trends among the various denominations of Italy. |
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Sparkling wines “steal” the market from still wines, also in Italy. In 2022, the only large-scale distribution and retail category that has grown is that of “Other Charmat sparkling wines” (other than Prosecco), with a trend growth in volume of 13%, against a general drop in shelf purchases that exceeds -6%, with losses above the average for the type of still wines (-7%) and, in particular, for the red DOCs (-11%). And in the period 2019-2022, bubbles generally grew by 17% in volumes, while still wine scored -8%. This is stated by the data of the Unione Italiana Vini Observatory (Uiv) and Ismea (based on the Ismea-Nielsen IQ Observatory). |
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The promotion of Italian wine in the world restarts with Vinitaly, with an unprecedented “road show” which, from 19 January to 23 February 2023, will visit 9 countries, Austria, the USA, Denmark, Germany, Belgium, Switzerland, the United Kingdom, Japan and South Korea, which together represent two-thirds of Italy’s total wine exports. Thanks to the work of Veronafiere (in the photo, president and CEO, Federico Bricolo and Maurizio Danese) with the institutions, Ice-Agency and the Chamber system (in more detail). |
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