Italian Wine Exports Fell 6.2% in the First Half of 2026

Italian wine exports lost ground in the first half of 2026, even as shipments to the United States recovered later in the year, leaving producers caught between weaker demand, lower selling prices and heavy inventories.

The picture emerged in an analysis published November 8 by Di Testa e Di Gola, which cited industry figures and comments from Unione Italiana Vini, the country’s main wine trade group. The article described the downturn as more than a short-term swing and pointed to a broader weakening in global demand.

According to the figures cited in the analysis, Italian wine exports exceeded 3.6 billion euros in the first half of 2026 but fell 6.2% in value and 4% in volume from a year earlier. Nine of Italy’s 10 largest foreign markets reduced purchases during that period. The United States, Italy’s top export destination for wine, posted a 14.1% decline, while the average selling price fell 7.8%.

The report said the pressure was especially visible in the 12 months from April 2025 through March 2026, a period marked by tariff tensions in the U.S. market. In that stretch, exports to the United States fell 17%, a drop of more than 340 million euros, and volumes sank to their lowest level in a decade.

At the same time, producers have been squeezed by costs and pricing. The analysis said production costs rose 8.9% from a year earlier, while consumer wine prices fell 2.6%. It also cited a drop in quotations for protected designation of origin wines, or DOP wines, to 1.57 euros per liter. Inventories were described as being at record highs, adding to the strain on wineries trying to clear stock without cutting prices further.

Weakness has not been limited to foreign markets. The article said Italian supermarket sales of wine fell 2% in the January-May period. Mid-sized wineries were identified as among the most exposed businesses because they lack both the scale of the largest groups and the high-volume structure of cooperatives.

Still, the data also showed some improvement later in the year. In the third quarter, shipments to the United States rebounded by nearly 17%, according to the analysis, and average prices started rising again. China and Russia were both described as growing at roughly 20%, while Brazil remained in positive territory. The article said Italy had held up better than France, Spain and Chile, which were also facing weaker conditions.

Product mix has mattered. Sparkling wines and white wines were described as the strongest categories, and September bottlings were said to be up 5%. The regional picture was more uneven. In Piedmont, one of Italy’s flagship red wine regions, declines ranged from 2% to 6%, the analysis said. Asti alone was reported to have lost 20 million bottles in Eastern European markets.

Lamberto Frescobaldi, president of Unione Italiana Vini, was quoted as describing the downturn as a structural decline in global demand, worsened by lower purchasing power and geopolitical tensions. That view is important for the broader beverages business because it suggests that a rebound in a key export market such as the United States may not be enough to offset wider pressure on prices and inventories. If those conditions persist, they could affect promotion budgets, distributor strategies and the balance between premium and volume products across imported alcoholic drinks.

The article also pointed to a debate inside the industry over how to respond. Trade groups have called on the Italian government to create an extraordinary fund for export promotion. At the same time, the analysis argued that financial support alone would not solve the problem if global demand remains weak and too much wine continues to chase too little pricing power.

Part of the industry’s response has shifted toward value rather than volume. The analysis linked stronger resilience to products tied to tourism, regional identity and a premium consumer experience rather than to wine sold mainly as a commodity. It said wine tourism continued to show strong momentum, an indication that consumers may still be willing to spend when the product is tied to place, quality and travel.

The 2026 harvest was described as likely to be smaller because of drought and policies aimed at lowering yields. A reduced crop could help ease excess supply after a period of swollen cellar stocks, but the near-term challenge for producers remains the same: restoring margins in export markets while domestic demand and supermarket sales remain under pressure.