Written by Francesco Paolo Esposito
The wine market is undergoing a transformation that is both silent and profound. After years of growth driven mainly by volume, 2024 marks a turning point: global consumption is slowing, yet the overall value of the sector continues to rise. It’s a paradox only on the surface, one that reflects a more selective consumer, an export system that has become essential, and an industry that—despite challenges—shows a remarkable ability to adapt.
In Italy, according to the Mediobanca survey reported by Enovitae, 2024 closes with overall sales growth of +2.6%, driven primarily by exports, which increase by +3%. Sparkling wines remain the engine of the sector, with revenues up +3.7% and particularly strong international demand (+6.8%). This confirms a clear trend: Italian wine continues to be perceived globally as a product of identity, competitiveness, and cultural distinctiveness.
At the same time, the domestic market shows increasing polarization. Data from 2023 reveal a –4.5% drop in volumes, yet a significant rise in high-end wines (+12.7%), while the mid-range segment declines by –10.1%. Consumers are not drinking less out of disinterest; they are choosing more carefully: less quantity, more quality, more experience. This cultural shift is also reflected in wine tourism, which grew by +15% in 2023, and in the growing attention to sustainability—although only 35% of Italian wineries have published a sustainability report, indicating a vast untapped potential.
On the industrial side, 2023 confirms the leadership of Cantine Riunite–GIV, with revenues of €670.6 million, followed by Argea, IWB, and Caviro. Performance remains stable, but margins are under pressure: international competition, energy costs, and pricing constraints require more sophisticated strategies, from market diversification to the valorization of appellations.
The fine wine segment, meanwhile, is experiencing a phase of recalibration. The Liv-ex Fine Wine 100 index shows a –9.1% decline in 2024, while the RareWine Invest portfolio records –4.65%. Yet trading activity increases by +7.9%: investors are buying more frequently but in smaller quantities, taking advantage of a period of more accessible prices. It’s a market that isn’t retreating but repositioning, and one that may offer interesting opportunities in the medium term.
From an agricultural perspective, ISMEA data show substantial price stability across major Italian regions for 2025–2026, with minimal fluctuations and a climate of confidence supported by the strength of Prosecco, stable vineyard surfaces, and an export sector that remains the true anchor of the industry.
Overall, the wine market in 2024–2025 is not a sector in crisis but a sector in evolution.It grows less in volume, but grows better in value. It moves toward quality, experience, and sustainability. And as the world changes, wine remains one of the few products capable of uniting tradition and innovation, territory and vision, identity and market.