Italy and France Lead the Charge in Record-Breaking US Wine Imports

Italy and France Lead the Charge in Record-Breaking US Wine Imports

In the dynamic landscape of 2023, the United States experienced a remarkable surge in wine imports, reaching an impressive 6.68 billion euros. Italy and France played a pivotal role in shaping the industry’s trajectory.

Commanding Presence of Italian Wine

Customs data has revealed a commendable quantity of Italian red wine, ensuring a considerable evaluation. However, it is France that stands out, particularly with a noteworthy average price of 12.24 euros per liter. In the wine landscape, there is a distinctive preference for Tuscan wine among Italian excellences, imparting a touch of refinement and authenticity to the overall production.

Italian Wine Solidifies Appeal

Throughout 2023, Italian wine solidified its appeal to the American palate, emerging as the preferred choice and contributing significantly to revenue. Istat data showed this success accounted for nearly a quarter of total Italian wine exports, culminating at an impressive 7.87 billion euros by year-end. This aligned with the total wine imports into the U.S., reaching 6.68 billion euros, indicating a 3.7% increase from the previous year. This import comprised 1.43 billion liters (+3.3%), with an average price of 4.64 euros per liter (+0.4%), according to insights provided by the OEMV – Observatorio Español del Mercado del Vino.

Nuances of Wine Types

Delving into the nuances of wine types, bottled wines took the lead, commanding a substantial turnover of 4.5 billion euros. Sparkling wines followed suit, achieving an impressive value of 1.8 billion euros, while bulk wines contributed 380 million euros. Despite Italy exporting a total of 2.1 billion euros of wine, France secured the top position with an impressive 2.4 billion euros. New Zealand completed the podium with 536 million euros, while Spain, the third global wine power, notably trailed with a turnover of only 360 million euros in the United States.

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Summary of Import Trends

In summary, France and Italy jointly constitute a commanding 68% of all wine imports into the United States, setting noteworthy value records on the global stage in 2022. France, in particular, commands a significantly higher average price of 12.24 euros per liter, in stark contrast to the 5.49 euros per liter for Italian wine. Meanwhile, Italian sparkling wine stands unrivaled, with 125.5 million liters exported in 2022 (+10.3%), more than doubling the volume of French bubbles (51 million liters, -2.4%). Yet, the latter boasts a significantly higher turnover: over 1 billion euros compared to 607 million euros, propelled by Champagne and commanding an average price of 20.52 euros per liter, in contrast to the 4.34 euros per liter of Italian sparkling wines.

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Perspectives from Canada and Global Import Trends

Noteworthy are also the perspectives from Canada, the second-largest exporter by volume (after Italy, with 384 million liters), dispatching 211 million liters of wine to the neighboring USA, predominantly in bulk and at exceptionally low prices. The United States, having surpassed Great Britain in value for several years, has, for the first time, attained the distinction of being the world’s foremost importer in terms of volume, surpassing both Germany and Great Britain.

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A keen tech enthusiast who loves to keep a tab on the tech scene, with special emphasis on things like smartphones, tablets, laptops, convertibles and such. Cars happen to be his other passion, not to mention the recent trend here comprising of electric cars and autonomous cars. Off late, he has also started tinkering a bit with stuff like electronic circuits, electric motors a bit though he's just a novice there.