This is not an irreversible structural crisis, but a profound transformation of the global market, of consumption, and of the ways in which wine is produced, distributed, and described.
Italian wine is going through one of the most delicate phases of recent years.

The week of May 25-29, 2026, clearly confirms that the sector is entering a new historical phase: more selective, more competitive, and much less predictable than in the past.

Exports: signs of improvement, but the situation remains fragile

The main focus continues to be exports.
Data for the first quarter of 2026 still show a negative situation for Italian wine in non-EU markets, although March showed a slight improvement compared to the first two months of the year.

According to the Italian Wine Union Observatory, non-EU exports of Italian wine closed the quarter at nearly €1 billion, down 11% in value compared to 2025, but improving on the 16% decline recorded in the initial two months.

The main problem remains the American market.
The United States, the world’s leading market for Italian wine, continues to slow down sharply:

Italian wine exports to the US: -20.5% in the first quarter of 2026
Italian sparkling wines in the US: -27% in value
total volumes in the US: -7.2%
Consumer prices increased by 4.3% despite discounts applied by Italian wineries to offset duties

The combined effect of:

American tariffs,
slowdown in consumption,
geopolitical tensions,
excess stock,
increasing logistics costs

is creating strong pressure on the entire supply chain.

However, some interesting signals also emerge.
Italian exports are not currently supported by historic markets, but by emerging and high-potential markets:

China
Brazil
Mexico
Russia

in fact, they show significant increases in demand.

At the same time, Prosecco continues to demonstrate greater resilience than other categories, especially in the premium segment and in the international HoReCa sector.

Italy remains the world leader in wine

Despite the market slowdown, Italy confirms its global manufacturing leadership.

According to the Mediobanca Research Area report:

Italian production 2025: 44.4 million hectoliters
global share: 19.7%
world’s leading exporter by volume
second largest exporter in the world by value after France

The sector continues to represent a strategic asset for Made in Italy, with a trade balance that increased from €2.7 billion in 2005 to €7.2 billion in 2025.

But behind these numbers, some very evident critical issues also emerge.

Turnover, margins and consumption are decreasing

2025 ended with:

turnover of top Italian players: -2.8%
EBITDA: -4.2%
net profit: -7.5%
exports: -3.4%
domestic market: -2.2%

Those who suffer the most are:

small and medium-sized companies,
the most capital intensive structures,
the middle range of the market.

Premium wine is holding up better, while the intermediate segment continues to lose strength.

Even traditional channels are showing difficulties:

Horeca slowing down,
wine shops in decline,
weak online,
wholesalers in contraction.

This confirms a trend that is now evident: the wine market is becoming more selective and less oriented towards large volumes.

Consumption is changing: less quantity, more experience

One of the most important changes concerns consumer behavior.

In recent years:

global wine consumption is decreasing,
attention to well-being is growing,
no-low alcohol increases,
the concept of “drink less but better” is strengthened.

This is also clearly seen in the aperitif phenomenon.

World Aperitivo Day 2026 confirms:

growth of premium aperitifs,
strong development of alcohol-free products,
increase in mixology,
search for lighter and more transversal convivial experiences.

Generation Z is approaching beverages in a completely different way than previous generations:

less traditional ritual,
more sociability,
more experience,
less historical fidelity to wine.

This forces the Italian wine sector to rethink its language, communication, and commercial approach.

Wine tourism: one of the true strategic levers of the future

In this scenario, one central theme emerges forcefully: wine tourism.

Today, Italian wine tourism is already worth over 3 billion euros and, according to many industry analyses, could exceed 5 billion in the coming years if the system is better structured.

The most interesting fact is that:

for many wineries, wine tourism already accounts for more than 20% of their turnover,
the most organised companies record significant increases in margins,
direct sales are growing,
increases customer loyalty.

The real Italian crux, however, remains the ability to create a system.

Many territories:

they communicate little together,
they do not integrate enough hospitality, wine and tourism,
they still have organizational shortcomings,
they are not fully structured on professional reception.

Yet Italy’s potential remains probably the strongest in the world:

unique wine biodiversity,
iconic territories,
gastronomic culture,
authenticity,
globally recognized landscapes.

Today, wine can no longer be just a bottle to sell.
It’s becoming more and more:

experience,
relation,
territory,
cultural identity.

And it is precisely here that many wineries will be able to build their economic future.

Luxury continues to spend

Also interesting is the signal coming from the Costa Smeralda, where wine continues to be seen as an element of status, luxury, and an exclusive experience.

Events like the Porto Cervo Wine & Food Festival show how the high-end segment remains very dynamic, especially in high-spending international tourism.

This confirms an increasingly evident dynamic:

the average market is suffering,
the premium one lasts better,
Super premium continues to grow in some contexts.

Final conclusions

Italian wine is not losing value.
The market is changing.

The model based primarily on volumes, traditional distribution and consolidated consumption today shows clear limitations.

The new phase of the sector requires:

greater selection,
production control,
strengthening of perceived value,
new communication languages,
more territorial identity,
greater integration between wine, tourism and hospitality.

The strongest companies in the coming years will likely be those capable of:

build a direct relationship with the consumer,
develop experiences,
invest in the brand,
to oversee wine tourism,
differentiate yourself on real quality,
work in a network with the local area.

Italy still has a huge competitive advantage: authenticity, history, biodiversity, and productive capacity.
But today it is no longer enough to produce excellent wine.

It needs to be told better.
We need to create experience.
We need to build value around the territory.
And it is precisely there that much of the future of Italian wine will be played out in the coming years.