The Mediobanca Study Area publishes its survey on the wine sector in Italy covering 253 major Italian corporations with 2022 revenues over 20 million euros and aggregate revenues of 11.8 billion euros, accounting for 88.4% of the sector's national turnover. The study includes a focus on PDO and PGI wines, major M&A deals, and sustainability. World wine production in 2023 is estimated at 237 million hectoliters, down sharply from 2022 (-9.6%). World consumption is 221 million hectoliters (-2.6%). The reshaping of demand, induced by generational change and the spread of health patterns as well as climate change, caused a decline in red wine consumption from an average 51.3% share in the 2000-2004 period to 48.3% in 2017-2021. White wine consumption (from 40% to 42.2% +2.2 points) and rosé wine consumption (from 8.7% to 9.5 %+0.8 points) bucked the trend. Italy follows the world trend by recording -23.2% in production compared to 2022 and -1.6% in consumption, with 37.4 liters per capita per year). The surplus for Italy is the trade balance: in 20 years it has grown at an average annual rate of 5.5%, from 2.5 billion euros in 2003 to 7.2 in 2023. Italy is the leading wine exporter in quantity (21.4 million hectoliters in 2023) and the second in value (7.7 billion euros behind only France's 11.9 billion).
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