USA is ‘Strategic Asset’ for Italian Wine with Revenues of $10bn

Chicago: 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 Ansa News Agency, an analysis by the UIV-Vinitaly Observatory reveals that while Italian companies have an annual turnover of over $2.2 billion, the figure rises to over $10 billion for their US trade partners. Federico Bricolo, the president of Veronafiere, explained that Italian wine is not only a symbol of food and wine excellence, but also an economic pillar of relations between Italy and the US.

Data from the UIV-Vinitaly Observatory shows that although the majority of wine consumed in the US is produced domestically (70% of the volume consumed), Italian wine holds a market share of 38%, followed by Australian, New Zealand, French, and Chilean wines. Every dolla
r 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. On the hospitality front, the Italian restaurant industry in the US alone is worth $95 billion a year, featuring over 62,000 businesses.

Italian wines are also crucial to the economy of all US restaurants, both in terms of presence and consumer appreciation. Prosecco, a flagship product for Italian wines, 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, accounting for 24% o
f the total value of Italian exports. Finally, according to Wine America’s “2025 Economic Impact Report,” the annual impact of wine in the US is $144.4 billion, with almost $19 billion generated by Italian wine.