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Wine Report of November 1 2025

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Wineries, wines, and the general trend of Italian wine.

– Italy’s 2025 harvest : estimated 47.4 million hl (8% vs. 2024), good-excellent quality; Italy likely to be number one in volume. (Assoenologi-UIV-ISMEA, 10 September 2025 ).

– Italian exports 1st half of 2025 : picture “in precarious balance”: -0.4% in value, -3.1% in volume (Istat WineNews analysis, 11 September 2025 ); in the USA January-July -1.1% in value with falling price/litre ( 18 September 2025 ).

– Global scenario : OIV publishes focus on re-exports as a driver of global flows ( 9 Oct 2025 ). France cuts harvest estimate due to heat wave (36 mln hl, -1% y/y ) ( 7 Oct 2025 ).

– Regulation/Labeling : Ireland postpones health labels until 2028 (positive response from CEEV, July-October 2025 ). In the EU, e-labels/QRs for ingredients and nutritional information, introduced in 2024, remain in force.

– Awards & Ranking : At the Decanter World Wine Awards 2025, Italy obtains 6 “Best in Show” (including Terlano, Donnachiara, Donnafugata) ( 18 June 2025 ). At the International Wine Challenge 2025, the trophies and the English overtaking in the sparkling wines stand out ( May-Oct 2025 ).

– Finance/credit : CDP and Finint subscribe to minibonds for Feudi di San Gregorio (€5 million in total, 21 October 2025 ).

M&A radar (deal/rumor • parties • size • geography • source)

  • Acquisition • CASTEL‑Vins → Tannico (originators: Campari & Moët Hennessy ) • nd • IT/FR • 20 Oct 2025 .
  • Acquisition • Tenuta Ulisse → Montevetrano • nd • IT (Campania) • 19 Sep 2025 .
  • Asset deal • Calmére Estate (Carneros, Napa) sold to Chinese investor • $16.8 million in cash • USA • mid-Oct 2025 / two weeks ago .
  • Sale of brands (wine & vermouth) • Campari → Caffo 1915 ( Cinzano, Frattina ) • €100 million , closing expected by 2025 • IT • 26 Jun 2025 .
  • Italy (Friuli) • Fossa Mala sells Cantina RR for use by Cantina Rauscedo (rental of branches and systems) • nd • 22 Oct / news 20h ago .

Prices & Harvest (flash)

Grapes 2025 (wholesale, €/kg, unless otherwise stated)

  • Piedmont (Cuneo) : Nebbiolo Barolo 3.00–3.21; Barbaresco 1.91–3.39; Barbera d’Alba 1.00–1.34. (Latest update from the Chamber of Commerce portal; historical series, 2024 as the base; 2025 being surveyed).
  • Piedmont (Alessandria-Asti, 9 October 2025, official price list) : examples: Moscato DOCG 1.10–1.25; Alta Langa DOC 1.40–1.70; Dolcetto 0.50–0.65.
  • Umbria : Chamber of Commerce reports drop in grape prices of up to ‑30/‑33% vs 2024. ( 18 Oct 2025 ).

Bulk/bottled wines (origin)

  • Doc/Docg ISMEA examples (September 2025): Nebbiolo d’Alba €170/hl ( -20.9% y/y ); Moscato bianco €147.5/hl (stable).
  • Igp/Igt Italia (Sep 2025): whites €6.19/hectograde ( -2.6% m/m; 9.5% y/y ), reds/rosés €6.75/hectograde (stable m/m; -4.9% y/y ).
  • Verona – Commodity Exchange (Oct 2025) : first Soave DOC and Garda Chardonnay prices; active weekly price lists.
  • Global bulk market (Oct 2025) : Ciatti report points to still weak activity in several areas; price competition is high.

Inventory & Weather

  • Italian inventories : 36 million hl as of 30 September 2025 (down vs. July).
  • EU Weather : Heatwave in France impacts yields; Champagne bucks trend, Beaujolais hits multi-year lows. ( 7 Oct 2025 ).

Bottega (Prosecco): ‘U.S. Blockade Will Cause Zero Alcohol Market Boom’

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“The alcohol-free wine market has grown by 500% in the last 5 years, and the US blockade, which is causing damage of over 300 million euros (UIV estimates) to the export of our wines, is expected to lead to a 400% boom in the alcohol-free wine market in the next 5 years, also thanks to a strong increase in demand from Muslim countries.

Alcohol-free products (500% from 2021) are a new frontier for Muslims and Gen Z.

“Demand for kosher wine will also increase, estimated at 100%,” estimates Prosecco entrepreneur Sandro Bottega, head of the eponymous Veneto winery. “At a time when trade is being impacted by protectionist pressures, I emphasize the need to strengthen our presence in Muslim countries, which contain some of the most interesting alternative markets. Our winery in Bibano di Godega (TV) has also distinguished itself in the production of alcohol-free products, which have grown by approximately 500% over the past five years (2021-2025) and will increase by 400% over the next five years. This is a niche market for which further growth is expected in the near future, which will help offset the potential reduction in turnover caused by US tariffs,” commented Veneto wine entrepreneur Sandro Bottega.

Sandro Bottega, president of Bottega Spa, adds: “Bunches of grapes from the same vineyard can be used to make a kosher sparkling wine or, alternatively, a halal, alcohol-free sparkling drink. My greatest hope is that these two products can convey a message of peace and bring together, with a symbolic toast, two civilizations with thousands of years of history behind them.” Bottega continues: “Finally, for a few years now, we have been producing two wines, a limoncino and an alcohol-free amaro. These products are a different, yet not antithetical, expression of our tradition and are aimed primarily at Generation Z. I would also like to raise a toast to them, to unite, beyond demographics, the different age groups and strengthen a dialogue that has seemed somewhat tarnished for some time.”

“Today more than ever, the word peace is necessary to restore common sense and normality to the consciences of some of the world’s greats. Greed and ego have led us to an unlikely situation where 80 years of civilization, reasonableness and progress have been lost. We can do very little except offer governments around the world our “Wine of Peace” and produce both traditional sparkling wines, sparkling wines with Halal or Kosher certifications, and No/low alcohol versions for Generation Z. In short: technology, passion and a lot of naturalness to bring a toast of peace across the planet. We have always shown a sincere interest in all cultures, fully respecting the religious, ethical and cultural dictates of different peoples. The fruits of the earth, such as grapes, lemons, alpine herbs, are a common heritage, regardless of the latitude of origin, and lend themselves to being processed and transformed in different ways. It should therefore not be surprising that Bottega is able to produce, even in compliance with Kosher parameters and Halal modality, with the achievement of the respective certifications from the competent religious authorities in the matter”, concluded Sandro Bottega, wine entrepreneur at the head of the historic company Bottega SpA of Bibano (TV), among the leaders in Italy for the production of Prosecco

Wine Trends in Italy – Week of October 27-31 2025

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The Italian wine sector is experiencing a period of reflection and transformation, not crisis.

The central message emerging from this week’s events and data is clear: the future of Italian wine depends on the ability to work together and communicate better.

During the 2025 Fisar National Congress , hosted at the Library of the Chamber of Deputies, the sector’s most authoritative voices—from Riccardo Cotarella to Michele Zanardo and Roberto Donadini —reiterated that Italy remains the world’s largest producer and the most diverse winemaking industry, but that more unified and strategic communication is needed to strengthen its international positioning. The new US tariffs and a temporary slowdown in exports—also due to the “stock effect” of American importers—do not constitute a structural risk, but rather a phase of market rebalancing.

The value of the wine system remains robust: according to ISMEA data, the European market now represents approximately 40% of total exports, while the Food Industry Monitor Observatory confirms an improvement in revenues (2.5%) and profitability (ROS 5.9%, ROIC 5.3%) for 2024, with widespread financial solidity and low average debt (1.04). The sector is moving towards a structural transformation : distribution and market management now weigh more heavily than agricultural production alone.

At the same time, the 2026 guide “The Best 100 Wines and Winemakers of Italy,” authored by Luciano Ferraro and James Suckling , highlighted the generational shift underway: young producers like Chiara Pepe and Orlando Rocca stand alongside historic masters, embodying a “best of youth” of Italian wine that combines roots, innovation, and sustainability. At the top of the quality rankings are Bruno Giacosa’s Barbaresco Asili Riserva 2021 , Valdicava ‘s Brunello di Montalcino Madonna del Piano Riserva 2019 , and GB Burlotto’s Barolo Monvigliero 2021 , all awarded 100/100.

On the international front, there is growing attention to the phenomenon of re-export , which annually moves 14 million hectoliters of wine and over €4.5 billion. Hubs such as Singapore, Hong Kong, the Netherlands, and the United Kingdom are proving to be strategic hubs of global trade. As Laura Mayr (UIV) emphasizes, re-export represents a lever for efficiency but also a challenge for transparency and value for Italian wine.

Nationally, events like GiovinBacco – Sangiovese in festa in Ravenna confirm the vitality of the local production system. Small producers, with little exposure to exports, report stable sales and domestic demand driven by quality and local tradition. However, declining restaurant consumption and growing competition from low-alcohol or “alternative” beverages (such as ready-to-drink cocktails and cannabis-infused drinks) highlight the need to rethink communication and relationships with younger consumers .

Economically, Italy stands out for its price dynamics, among the most moderate in Europe: 7.4% in ten years , according to the American Association of Wine Economists , compared to record increases such as 92% in Croatia or 1,581% in Turkey. This is a sign of equilibrium, testifying to a competitive sector capable of containing the effects of inflation.

In short, Vigneto Italia enters a new era of consolidation, innovation, and collective responsibility. The future lies in a more cohesive supply chain, a shared narrative, and a greater ability to transform wine from an agricultural product into a cultural and industrial symbol of the country . As Riccardo Cotarella reminds us: “Italian wine has been reborn many times. It will be able to do so again, if we can tell its story together.”

 

Wine Report of October 31 2025

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Territorial focus: North-East vs South Italy

North-East (Veneto, Friuli-VG, Trentino-AA)

Positioning & Market Signals

  • Veneto/Glera (Prosecco) : Chamber of Commerce surveys indicate Glera suitable for Prosecco DOC at €1.75–€1.85/kg ; Glera Bio at €2.00–€2.10/kg (22/08/2025, Padua Chamber of Commerce).
  • National inventories : as of September 30, 2025, 36.0 Mhl of wine, 8.5 Mhl of must, and 4.6 Mhl of VNAIF ; inventories decreasing compared to July, but 1.3% y/y : indicates potential pressure on indistinct wines.
  • Bulk : Brokerage reports point to a “slow” market; generic whites and Sauvignon/Pinot Grigio in some global regions perceived as “tight,” but 2025 availability still ample.

Risks/Opportunities

  • Risk : oversupply in mainstream segments; margin compression if value is not protected.
  • Opportunities : promoting organic/low-impact products, sustainable formats (e.g., premium bag-in-box for Northern European Horeca), reinvestment in hospitality and D2C.

Recommended actions (12 months)

  1. Up-trading of the range : more single-village or sustainability-led cuvées to recover mixes.
  2. Side-bet on Organic : lock-in of medium-term contracts on Organic Glera (€2.00–€2.10/kg) to occupy the premium sustainable shelf.
  3. Channel : Push Northern Europe/UK with sustainable formats and storytelling; focus on Horeca and high-end private labels.

Southern Italy (Puglia, Sicily, Calabria)

Positioning & Market Signals

  • Puglia : production estimate 17% vs. 2024; healthy grapes, good phenolic ripeness of the reds.
  • Sicily : excellent prospects for quality and quantity; low disease pressure; potentially best harvest in the last four years.
  • Grape prices (Umbria references, useful Central-Southern benchmark) : Sangiovese €26–30/100 kg , Merlot/Cabernet €28–30/100 kg ; Sagrantino DOCG €100–140/100 kg .

Risks/Opportunities

  • Risk : local drought/water stress; price pressure if exports fail to absorb demand.
  • Opportunities : Push for Mediterranean reds (Primitivo, Nero d’Avola) with a modern profile ; value-for-money positioning for price-sensitive markets in APAC/LatAm.

Recommended actions (12 months)

  1. “Mediterranean Reds” line : 10–20k case batches with a fruit/spice profile, balanced alcohol, sustainable closures.
  2. Selective large-scale retail contracts for better-quality private labels (UK/DE/NL) to absorb volumes without cannibalizing top labels.
  3. Targeted Capex : Micro-irrigation, sensing, and canopy management for climate resilience.

Export playbook per channel

Asia-Pacific

Context & data

  • Wine consumption in China remains depressed in the medium term; 2023 will be at a multi-year low (-24.9% year-on-year in demand), with reopening volatility; however, the greatest long-term opportunity remains “metropolitan clusters” .
  • Mercosur : EU approval expected by the end of 2025 (political timing to be confirmed). For wine, this means progressive elimination of tariffs and a window of opportunity for growth in Brazil and Uruguay .

Operational moves

  • China Tier-1/2 : Enter with an iconic entry-premium portfolio (giftability, IWSC/Decanter medal leverage), partnerships with specialized importers, and digital brand education .
  • ASEAN (SG, VN, TH): focus on aromatic/sparkling white wines served cold and “fresh style” red wines.
  • Brazil : Prepare pre-Mercosur records and compliance; use a logistics hub in Santos with a bottled/bulk mix for local re-bottling.

Americas

Context & data

  • USA : July–August 2025 : -28% value on Italian wine imports, despite an average discount of ~-17% (15% tariff impact on EU wines).

Operational moves

  • Barbell strategy :
    • Top-end (DOCG/IGT icons): preserve price, “allocations” for fine-dining clubs/restaurants;
    • Value-premium : Optimized SKUs in 6×750 cartons, targeted tactical promos, but avoid price wars .
  • Direct-to-Trade : US B2B platforms for transparent sell-in to D2C business clubs (where legal).
  • Risk : FX and logistics; minimum coverage and annual freight contracts .

Middle East

Context & moves

  • GCC on-trade premium markets (hotels/restaurants) growing; demand for sparkling wines and iconic reds .
  • Requires an accredited distributor and portfolio with legal clearance ; promote hospitality pairing and by-the-glass at 5-star venues.

M&A Recommendations (Buy-Side/Sell-Side) – “What to Do Today”

For those who buy (buy-side)

  1. Target screening : D2C/e-commerce platforms (e.g., the recent Tannico case), distributors with cold chains and APAC/LatAm coverage; micro-brands with strong territorial identities .
  2. Deal thesis : route-to-market synergies > short-term agricultural synergies.
  3. Technical due diligence : agronomic KPIs (yield/ha, Brix level, phenolic stability), ESG (water/energy), digital readiness.

For those who sell/open to partners (sell-side)

  1. Readiness file : traceability data, P&L by channel, LTV of club/D2C customers, inventories by year (consistent with Cantina Italia ).
  2. Valorisation : Bio/SQNP certifications, international awards, wine tourism traffic, earned media .
  3. Term sheet : include earn-out on mix margin and export KPIs (new post-USA markets).

Quick KPIs (for decision table)

  • Export Italy H1-2025 : 1.5% value / 2.1% volume (≈ €2.8 billion / 703.5 million litres).
  • USA two-month period Jul-Aug 2025 : -28% in value for Italian wine (15% duties).
  • Italy 2025 harvest : estimated 47.4 Mhl , good/excellent quality.
  • Glera Prosecco DOC : €1.75–1.85/kg (organic 2.00–2.10).
  • Stocks (09/30/2025) : 36.0 Mhl wine (Italy).
  • Puglia : Estimated production up 17% vs. 2024; Sicily : Improving quality and quantity.
  • EU-Mercosur : ratification possible by the end of 2025 → progressive tariff opening in South America.