Key Market Indicators
**Italian Wine Revenue Projected to Hit €14.3 Billion by 2028** The Italian wine industry is set to see a significant increase in revenue, projected to grow from €12.5 billion in 2023 to €14.3 billion by 2028. This marks an average annual growth rate of 2.1%. Since 2013, the Italian wine market has experienced a year-on-year growth rate of 1.8%. In 2023, Italy was ranked second in the global wine revenue market, with France taking the lead at €12.54 billion. Following Italy, Spain and Germany occupied the third and fourth spots, respectively. **Steady Italian Wine Consumption Through 2028** Italian wine consumption is expected to remain stable over the next five years. The consumption figures are projected to stay at 1.87 million metric tons by 2028, unchanged from 2023 levels. Since 2019, there has been no significant year-on-year increase in Italian wine demand. In the 2023 ranking, Italy stood fourth in global wine consumption. The United States led with a consumption of 1.87 million metric tons, followed by France and Italy in the second and third spots. **Modest Growth in Italian Wine Production** Italian wine production is set to see a modest increase, growing from 5.41 million metric tons in 2023 to 5.66 million metric tons by 2028, reflecting a compound annual growth rate (CAGR) of 0.7%. Historically, since 1966, the Italian wine supply has remained relatively stable with no significant year-on-year decrease. In the global production rankings for 2023, France, Spain, and the United States were ahead of Italy, occupying the second, third, and fourth positions, respectively.