Amid global trade shifts and emerging consumer trends, Italy’s wine industry is exploring new markets to diversify its export portfolio. Traditionally dominated by the United States, Germany, and the United Kingdom, Italy’s wine exports are facing challenges in these key markets due to factors like rising tariffs and changing consumption patterns. As a result, smaller and secondary markets are gaining importance, and Canada has emerged as a key player in 2024.In recent years, Canada has shown strong growth in Italian wine imports. In 2023, Italian wine exports to Canada increased by 15.3%, reaching 73.6 million liters and generating €447 million. This growth is significant, especially as the U.S. market braces for potential trade disruptions due to tariffs, creating new opportunities for Canadian importers to shift focus toward European wines, particularly from Italy.The trade war between the U.S. and Canada, coupled with the increasing strategic pivot away from U.S. products, positions Canada as an ideal alternative market for Italian wine producers. Canada's stable economic conditions and favorable trade relationships with Europe only add to its appeal, making it an attractive destination for diversifying wine exports. For Italian wine producers, Canada presents a unique opportunity to tap into a growing and relatively stable market while reducing reliance on traditional destinations that are facing more volatility. As the U.S. prepares for changes in its trade policies, Canada's wine market looks set to rise in importance for Italian exports in 2024 and beyond. (ICE TORONTO)

Fonte notizia: https://www.gamberorossointernational.com/news/italian-wine-seeks-new-markets-from-india-to-brazil-a