(PRLeap.com) A sip of 'Italian-ness', a testament to a human and cultural bond celebrated at the table, but also an economic asset for both sides of the Atlantic, which has been put to the test by the 15% tariffs in effect since August.This is what was discussed on Monday at Vinitaly.USA during the wine2wine Business Forum in Chicago.
According to an analysis by the UIV-Vinitaly Observatory, while the Italian companies have an annual turnover of over 2.2 billion dollars, the figure rises to over 10 billion dollars for their US trade partners.
"Italian wine is not only a symbol of food and wine excellence, it is also an economic pillar of relations between Italy and the US," explained Federico Bricolo, the president of Veronafiere centre that hosts the Vinitaly fair.
According to data from the UIV-Vinitaly Observatory, although the majority of wine consumed in the US is produced domestically (70% of the volume consumed), Italian wine is top with a market share of 38%, followed at a distance by Australian, New Zealand, French, and Chilean wines.
Every dollar spent on Italian and European wine generates $4.50 in value for the US economy.
According to data from the Vinaty international wine importer and distributor search platform, over 1,000 wine importers operate in the US, many importing Italian and European wines.
There are the same number of distributors and wholesalers, as well as 2,000 retailers.
When it comes to the hospitality front, the Italian restaurant industry in the US alone is worth $95 billion a year, according to IBISWorld, and features over 62,000 businesses.
And Italian wines are also crucial to the economy of all US restaurants, both in terms of presence and consumer appreciation.
Prosecco, today's flagship product for Made in Italy wine, is present on 41% of American menus, while Tuscan reds are also highly sought after.
Imports of Italian wine to the US reached nearly $2.3 billion in 2024, with 354 million litres sold (470 million bottles).
These figures make the US the top market for the Italian wine ecosystem (which is made up of 530,000 companies and 800,000 employees), with a share of 24% of the total value of Italian exports.
Finally, according to Wine America's "2025 Economic Impact Report," the annual impact (direct, indirect, and induced) of wine in the US is $144.4 billion, almost $19 billion of which is generated by Italian wine.
PRESS CONTACT:
Carlo Alberto Delaini
Head of Corporate & Product Communication at Veronafiere
Email: delaini@veronafiere.it
Phone: 045.8298242-427; Mobile phone: +39 3357367388
Web site: https://www.veronafiere.it/
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Carlo Alberto Delaini
Veronafiere
045.8298242-427
https://www.veronafiere.it/
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