Wine consumption declines globally, but Italy remains positive
Wine sales are still slowing in the three main global demand markets, as reported by the UIV-Vinitaly Observatory based on Nielsen-IQ. The overall first-half balance in large-scale retail trade in the US, UK, and Germany shows a 4.3% decline in volumes sold, with a value of €13.9 billion (-1.5%).
According to Lamberto Frescobaldi, president of the Italian Wine Union (UIV), "The greater versatility of our production has allowed us to outperform our competitors, but the reduction in consumption is becoming increasingly evident. A modern vineyard," Frescobaldi added, "must be matched by equally timely management decisions: the near future of Italian wine will necessarily require yield quotas and a more detailed analysis of markets and consumers, which have never been as fluid as they are today."
In the US, where Italian sales totaled €973 million, the 4.4% decline in still and sparkling wines (-2.5% in value) contrasts with the usual sparkling wines, which, riding high in the first quarter, remain in the green (+2.8%). And while one bottle of Italian wine in the US is Prosecco (+4.3%), among the British, the percentage rises to 33%. But the severe slowdown in the second quarter impacted the UK's mid-year results, both for sparkling wine sales (-0.4% in volume and -4.7% in value) and still wines (-2.2% in volume and +5.2% in value), for a total of €845 million. On the German market, Italy is limiting the damage to an otherwise asphyxiated market thanks to the success of its “sparkling” wines (+23.3% volume and +14.6% value), aided by an average “sale” price: 3.63 euros/litre (-7% the average price).
