In this article Edoardo talks about the African market, the recovery of the Russian one and the goals for the Asian market.
The Italian wine market in the world is going strong: Asia is consolidating, Africa is growing, and Russia is also recovering.
The up-to-date figures come from Edoardo Freddi International, Italy’s leading export management company in the wine sector, which has achieved a managed turnover of over 75 million euros, with a +30% annual growth rate, representing 43 wineries in partnership in 100 countries worldwide. The challenge of the next few years will be played out on the African market, which today accounts for 1% of the distribution company’s total sales and aims to approach 7% in the next 5 years, starting with the most important markets (South Africa, Nigeria, Angola and Mozambique).
With regard to the Russian market, “on the other hand, there has been a sharp slowdown, due to the war and logistical and financial difficulties,” explains Edoardo Freddi. However, since June, the various players have been working to restart.
Initially, the tendency was to buy entry-level wines, while now there is a renewed focus on premium wines.
On the well-established Asian market front, the goal is to reach 30% of sales by the end of the year: the top four countries, which alone account for 95% of revenues, are China, South Korea, Japan and Vietnam.
In recent weeks, two new companies from Lombardy have joined the distributed references: they are Santa Lucia in Franciacorta and Curtefranca, with an organic orientation, and the Valtellina-based Triacca, from Valposchiavo (Swiss Grisons) but with a cellar in Bianzone (Sondrio).
Source: Ansa – Terra & Gusto