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USA is 'strategic asset' for wine with revenues of $10bn / Vinitaly analysis presented at Chicago event
Venezia (ots) - A sip of 'Italian-ness', a testament to a human and cultural
bond celebrated at the table, but also an economic asset for both sides of the
Atlantic, which has been put to the test by the 15% tariffs in effect since
August .
This is what was discussed on Monday at Vinitaly.USA during the wine2wine
Business Forum in Chicago.
bond celebrated at the table, but also an economic asset for both sides of the
Atlantic, which has been put to the test by the 15% tariffs in effect since
August .
This is what was discussed on Monday at Vinitaly.USA during the wine2wine
Business Forum in Chicago.
According to an analysis by the UIV-Vinitaly Observatory, while the Italian
companies have an annual turnover of over 2.2 billion dollars, the figure rises
to over 10 billion dollars for their US trade partners.
"Italian wine is not only a symbol of food and wine excellence, it is also an
economic pillar of relations between Italy and the US," explained Federico
Bricolo, the president of Veronafiere centre that hosts the Vinitaly fair.
According to data from the UIV-Vinitaly Observatory, although the majority of
wine consumed in the US is produced domestically (70% of the volume consumed),
Italian wine is top with a market share of 38%, followed at a distance by
Australian, New Zealand, French, and Chilean wines.
Every dollar spent on Italian and European wine generates $4.50 in value for the
US economy.
According to data from the Vinaty international wine importer and distributor
search platform, over 1,000 wine importers operate in the US, many importing
Italian and European wines.
There are the same number of distributors and wholesalers, as well as 2,000
retailers.
When it comes to the hospitality front, the Italian restaurant industry in the
US alone is worth $95 billion a year, according to IBISWorld, and features over
62,000 businesses.
And Italian wines are also crucial to the economy of all US restaurants, both in
terms of presence and consumer appreciation.
Prosecco, today's flagship product for Made in Italy wine, is present on 41% of
American menus, while Tuscan reds are also highly sought after. Imports of
Italian wine to the US reached nearly $2.3 billion in 2024, with 354 million
litres sold (470 million bottles).
These figures make the US the top market for the Italian wine ecosystem (which
is made up of 530,000 companies and 800,000 employees), with a share of 24% of
the total value of Italian exports.
Finally, according to Wine America's "2025 Economic Impact Report," the annual
impact (direct, indirect, and induced) of wine in the US is $144.4 billion,
almost $19 billion of which is generated by Italian wine.
Contact:
Carlo Alberto Delaini
Head of Corporate & Product Communication at Veronafiere
Email: mailto:delaini@veronafiere.it
Phone: 045.8298242-427;
Mobile phone: +39 3357367388
Web site: https://www.veronafiere.it/
Additional content: http://presseportal.de/pm/172296/6133048
OTS: veronafiere
companies have an annual turnover of over 2.2 billion dollars, the figure rises
to over 10 billion dollars for their US trade partners.
"Italian wine is not only a symbol of food and wine excellence, it is also an
economic pillar of relations between Italy and the US," explained Federico
Bricolo, the president of Veronafiere centre that hosts the Vinitaly fair.
According to data from the UIV-Vinitaly Observatory, although the majority of
wine consumed in the US is produced domestically (70% of the volume consumed),
Italian wine is top with a market share of 38%, followed at a distance by
Australian, New Zealand, French, and Chilean wines.
Every dollar spent on Italian and European wine generates $4.50 in value for the
US economy.
According to data from the Vinaty international wine importer and distributor
search platform, over 1,000 wine importers operate in the US, many importing
Italian and European wines.
There are the same number of distributors and wholesalers, as well as 2,000
retailers.
When it comes to the hospitality front, the Italian restaurant industry in the
US alone is worth $95 billion a year, according to IBISWorld, and features over
62,000 businesses.
And Italian wines are also crucial to the economy of all US restaurants, both in
terms of presence and consumer appreciation.
Prosecco, today's flagship product for Made in Italy wine, is present on 41% of
American menus, while Tuscan reds are also highly sought after. Imports of
Italian wine to the US reached nearly $2.3 billion in 2024, with 354 million
litres sold (470 million bottles).
These figures make the US the top market for the Italian wine ecosystem (which
is made up of 530,000 companies and 800,000 employees), with a share of 24% of
the total value of Italian exports.
Finally, according to Wine America's "2025 Economic Impact Report," the annual
impact (direct, indirect, and induced) of wine in the US is $144.4 billion,
almost $19 billion of which is generated by Italian wine.
Contact:
Carlo Alberto Delaini
Head of Corporate & Product Communication at Veronafiere
Email: mailto:delaini@veronafiere.it
Phone: 045.8298242-427;
Mobile phone: +39 3357367388
Web site: https://www.veronafiere.it/
Additional content: http://presseportal.de/pm/172296/6133048
OTS: veronafiere
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