The turnover in the distilling, rectifying, and blending of spirits sector in Italy showed a general upward trend from 2013 to 2023, growing from €2.49 billion to €2.85 billion. The most notable growth occurred in 2019 with a 5.47% year-on-year increase. The sector experienced a significant setback in 2020 with a 10.29% decline, likely due to the COVID-19 pandemic's impact. However, recovery was evident in 2021 and 2022 with year-on-year increases of 2.33% and 4.35%, respectively. The 2023 data showed a further increase of 3.16%, bringing the turnover to €2.85 billion, with a 5-year compound annual growth rate (CAGR) of 0.83%.
Looking ahead to 2028, the forecast indicates steady growth with a CAGR of 0.77%, reaching a turnover of €2.99 billion, corresponding to an overall growth rate of 3.91% from 2024 to 2028. Trends to watch include the potential impact of shifts in consumer preferences towards premium and craft spirits, regulatory changes, and advancements in production technology. Strategic investments in innovation, marketing, and sustainability could further drive growth in this sector.
