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Wine Report of November 17 2025

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Here’s a concise and actionable update for the wine sector, useful for guiding strategic decisions about acquisition, divestment, or positioning.

Bullet points

  • Italian wine exports in the first eight months of 2025 recorded a decrease of -2.9% in volume (≈ 1.37 billion litres) and -1.9% in value (≈ €5 billion) compared to the same period of the previous year.
  • In the first half of 2025, according to the report of the 12 main international destinations, Italy recorded a 2.1% growth in volume and 1.5% in value for wine exports.
  • The global wine market is experiencing a decline in consumption and production volumes to the lowest levels in decades: the crisis in numbers is being offset by selective growth in premium wines.
  • At a technical/production level: for bulk wine in Italy, in 1H 2025, indicative average price ~ €0.78/litre (2.1% compared to the previous period) but with weak demand.
  • For the 2025 Italian harvest: initial estimate of ~47.4 Mhl (8% vs 2024), but some revisions bring the forecast towards ~44 Mhl; overall quality is reported as “good-excellent”, but weather uncertainties and supply/demand imbalance risks persist.
  • In the technological and digital fields: an academic study highlights how AI (machine learning, computer vision) is emerging as a strategic lever in viticulture, production, and wine tourism.
  • A significant M&A transaction: Groupe Castel (via its subsidiary CASTEL‐Vins) has acquired 100% of the Italian wine e‑commerce platform Tannico, previously controlled by Campari Group and Moët Hennessy.

M&A Radar

Deal / RumorParties involvedGeographySize / NotesSource & Date
Acquisition of TannicoCASTEL‑Vins ← Tannic (Campari & Moët Hennessy)Italy (wine e-commerce platform)100% acquired, amount undisclosed(Oct 20, 2025)
Repurchase of 51% of Cantine Torrevento by the Apuliana company itselfTorrevento ← Prosit GroupPuglia, ItalyRenationalization of control operation, amount not specified(13 n

Prices & Harvest

  • Average price of bulk wine in Italy (1H 2025): ~ €0.78/litre , 2.1% compared to the previous period.
  • Grape prices in some areas: for example, in Veneto/Vicenza for DOC grapes ~ €40-60/q.– (higher organic premiums) and in Pavia Barbera DOP ~ €48/q (range €40-55/q) – generally downward trend compared to previous years.
  • Italian stocks: as of October 31, 2025, wine stocks ~ 44.5 Mhl (23.8% compared to September 30, 2025; 5.2% vs. October 31, 2024) – signals potential overaccumulation.
  • Italy 2025 harvest: initial estimates ~47.4 Mhl (8% vs 2024) but revised to ~44 Mhl; quality reported as good–excellent but be wary of weather and demand.

Harvest 2025: Italy on the Rise, Excellent Quality and a Market Seeking Balance

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The 2025 harvest delivers a positive and, in many ways, encouraging production outlook for Italy. After a 2024 marked by climatic uncertainty and market tensions, the newly completed vintage brings the country back to the five-year average, with output estimated at 47.447 million hectolitres, equal to +8% year-on-year. But the real headline is quality: the grapes harvested stand out for their health, uniform ripening and very high oenological potential.

Harvest 2025: Italy on the Rise, Excellent Quality and a Market Seeking Balance

A mild spring and an early summer favoured a regular vegetative cycle and an overall earlier harvest, especially in the North. The result is a quality profile that promises fresh and long-lived wines in northern regions, balanced wines in central Italy, and structured, deep wines in the South.

Key Features of the Italian Vintage

Production on the rise
Total volume rebounds after two years of decline, realigning with historical standards. With over 47 million hectolitres, Italy confirms its position as the world’s leading wine producer, ahead of France, Spain and the United States.

High quality from North to South
– Northern Italy: excellent ripening, intact grapes, pronounced aromatics. Early fermentations point to particularly clean and well-balanced white wines.
– Central Italy: good day-night temperature variation and limited disease pressure favoured a uniform harvest.
– Southern Italy: structured and highly expressive reds, with sugar levels well balanced by natural acidity.

Stable stocks
Despite higher production, wine stocks as of 30 September 2025 remain essentially stable. This signals an active—yet still fragile—market.

The hot topic: grape prices aren’t covering production costs

The 2025 harvest is generous in terms of quality, but the economic picture shows growing tension. The provincial president of Cia Cuneo, Claudio Conterno, raises an alarm echoed in many other Italian regions: “At this year’s average prices, it’s difficult to maintain vineyards.”

According to Conterno, a fair price for grapes should start at €1.20 per kilo, a figure that now coincides merely with production costs. Nevertheless, the season saw sharp fluctuations: almost no demand in July, followed by a sudden shortage of grapes during harvest.

Conterno also highlights another critical issue: the weight of industry players in price formation. In the Langhe, he notes, 70% of grapes are vinified directly by growers, 20% by cooperatives, and only a small share by industry. Yet the latter continues to significantly influence grape prices, even in territories where production costs—including land—are incomparable.

At the same time, the Cia president comments on wine’s public image: “Wine is often demonised, while other beverages with a much greater health impact are rarely questioned. When consumed in moderation, wine is part of our landscape, our culture and our work.”

The global picture: low production, but a more stable market

While Italy posts a positive season, the rest of the world remains in a delicate balance. According to the OIV report published in November 2025, global production is estimated at 232 million hectolitres—the third lowest ever recorded.

The figure represents only a timid recovery compared to 2024 (+3%), yet remains 7% below the five-year average.

Paradoxically, this is not necessarily bad news. Lower production is helping stabilise the global market, in a context marked by weak demand, high inventories and persistent trade tensions.

Main Producers in 2025
– Italy: 47.3 mln hl, +8%
– France: 35.9 mln hl, –1% (second-lowest harvest since 1957)
– Spain: 29.4 mln hl, –6%
– United States: 21.7 mln hl, +3%
– Australia: 11.6 mln hl, +11%
– Argentina: 10.7 mln hl, –1%

Europe: a mix of recovery and difficulty
Italy leads the continent, while France, Spain, Germany and Portugal continue to face unfavourable climatic conditions. Romania stands out in the opposite direction, growing by 30% and surpassing 4 million hectolitres.

Southern Hemisphere recovery
After three challenging harvests, the Southern Hemisphere shows a 7% increase. Australia, South Africa, New Zealand and Brazil all report positive trends thanks to more favourable weather conditions.

A harvest that encourages, a market that demands stability

The 2025 vintage confirms the solidity of Italian viticulture, both in quantity and quality. The challenge now is economic: ensuring profitability for producers, containing market fluctuations and enhancing a production that demonstrates resilience and adaptability year after year.

A country that continues to be a global leader cannot overlook the real value of grapes, vineyard labour and the cultural heritage embodied in every bottle. The 2025 harvest marks a fresh start; the future will depend on the sector’s ability to achieve a more stable and sustainable balance.

Wine Report of November 16 2025

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Here is the updated briefing for the wine sector (Italy globally), designed for acquisition, sales, and positioning operations.

Key points

– Italian wine exports in the first six months of 2025 recorded an increase in volume (2.1%) and value (1.5%), reaching approximately 703.5 million litres and a turnover of €2.8 billion.

– The international bulk wine market shows a slight contraction in volume (-2.3% in 1H 2025 compared to 1H 2024) but stability in value thanks to an increase in average prices of 2.1% (around €0.78/litre).

– The 2025 Italian harvest is initially estimated at around 47.4 Mhl (8% vs 2024), but some revisions update the forecast to around 44 Mhl. General quality is reported as “good-excellent”, but with concerns linked to weather conditions and possible supply/demand imbalances.

– In the M&A sphere, the French group Castel Vins has acquired 100% of the Italian platform Tannico, previously owned by the Campari Group and Moët Hennessy.

The 2025 report on the Italian wine industry highlights pressures on domestic and international consumption: changing patterns, growing competition, and the urgent need to transform quantity into value.

– Growing focus on innovation: A 2025 study shows how AI (machine learning, computer vision) is emerging as a lever in viticulture, production, and wine tourism to improve sustainability and efficiency.

– Exports to the USA are showing signs of weakness: although Italy remains the leader in foreign wines, the average price per liter in the USA is declining, and tariff/metropolitan barriers are pushing for market and channel diversification.

M&A Radar

Deal/RumorParties involvedSize / geographySource and date
Acquisition of TannicoCastel Vins ← Tannic (Campari & Moët Hennessy)Italy (wine e-commerce platform)(date: October 20, 2025)

Prices & Harvest (mini-box)

  • Average price of bulk wine in Italy : ~€0.78/litre, 2.1% compared to the previous period.
  • Italy 2025 harvest : initially estimated at ~47.4 Mhl (8% vs 2024) with some revisions towards ~44 Mhl; good/excellent quality but with regional variability.
  • Trends and weather/market note : Estimated production increases, but bulk market under pressure in some areas; innovation may be needed to avoid downward competition.

Wine Report of November 15 2025

with:

Here is the updated briefing for the wine sector (Italy globally), designed for acquisition, sales, and positioning operations.

Key points

  • Wine imports into Belgium are expected to grow by 16.8% in volume in 2025, with the average price dropping to ~€3.51/litre.
  • Italian wine exports in the first six months of 2025 recorded 1.5% in value (≈ €2.8 billion) and 2.1% in volume (≈ 703.5 million litres).
  • Global wine trade in H1 2025 shows a decline: -2.3% in value, -3.7% in volume. The bulk wine market: in Italy, the average price was approximately €0.78/liter, down 2.1% compared to the previous period, but with high inventories (~36 Mhl) and weak demand.
  • The 2025 harvest in Italy is estimated at around ~47.4 Mhl (8% compared to 2024) but more prudent revisions bring it to ~44 Mhl; “good-excellent” quality, but climate and yields are arousing concern.
  • In the fine wine segment and in the luxury channel, global demand remains solid: the fine wine restaurant market is estimated at ~€58 billion in 2024.
  • Innovation enters the vineyard and the cellar: an academic study highlights the growing use of AI, remote sensing, and digital management for sustainability, efficiency, and competitive advantage.

M&A Radar

Deal/RumorParties involvedSizeGeographySource
Sale of the Cinzano & Frattina brandsCampari Group → Caffo Group 1915~€100 millionItaly

Prices & Harvest (mini-box)

  • Average price of bulk wine in Italy : ~€0.78/litre (2.1% vs previous period)
  • Stockpiles in Italy : ~36 Mhl as of September 30, 2025, slow reductions and strong pressure on margins.
  • Italy 2025 harvest : estimated ~47.4 Mhl (8% vs. 2024) but possible revisions to ~44 Mhl. Quality reported as “good-excellent”; climatic conditions (heat waves, irregular rainfall) to be monitored.
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