Italian wines gain ground in New Zealand: market dynamics at the wine2wine Business Forum
The wine2wine Business Forum 2023 session presented by Marco Nordio IWA offered a comprehensive overview of the Italian wine market in New Zealand, addressing key topics such as market access, consumer preferences, import regulations, distribution and costs. This session, here available in podcast format, provides invaluable guidance for Italian wineries navigating this complex landscape.
A continuously evolving and expanding market
New Zealand has consolidated its position as a wine producing and exporting nation, prompting closer examination of the role of Italian wines within its market. Analyzing the trends of the last ten years, Nordio delved into the breakdown of wine imports by country, focusing on both volume and value to shed light on the evolution of market dynamics.
Italian wines have seen a significant increase in popularity among New Zealand consumers, with their presence steadily growing, both in terms of volume and value. Prosecco, in particular, has emerged as a success story, leading the early stages of Italian wine imports and highlighting considerable potential for other varieties.
Nordio also discussed the current regulatory framework for wine imports, including recent labeling requirements, and provided insights into the market structure, including the expanding online distribution system. Looking to the future, Nordio highlighted strategies to capitalize on the excellent success of Italian wines in New Zealand and maximize their market potential. This involves understanding local tastes, adapting to regulatory changes and identifying strategic entry points into the New Zealand wine market.
Europe and New Zealand: a free trade agreement
The EU-New Zealand Free Trade Agreement, which came into force on 1 May 2024, has already brought significant benefits to the trade relationship between Europe and New Zealand. The agreement eliminates tariffs on industrial and agricultural products, including wine, creating a more favorable environment for Italian wine exporters. Italian wineries can now benefit from reduced trade barriers, allowing greater market access and greater competitiveness in New Zealand.
The free trade agreement also promotes deeper collaboration between the two countries, promoting sustainable trade practices and facilitating investment opportunities. By abolishing tariffs on key export products such as wine, European companies will be able to save substantial costs, improving their ability to compete in the New Zealand market.
Ultimately, by understanding and responding to market dynamics, Italian wine producers can address the complexities of the New Zealand market and unlock new opportunities for growth and success under the EU-New Zealand Free Trade Agreement.
Marco Nordio IWA
Marco Nordio, graduated in Monetary Economics from Bocconi University in Milan, he is an entrepreneur in the wine sector based in New Zealand. In 2013, he founded Sapori d’Italia Import Ltd, a company specializing in the sourcing and distribution of Italian wines in New Zealand. In 2019, he successfully organized the largest Italian wine tasting in New Zealand, the “Vino Italiano” in Auckland, with 150 labels tasted, 15 Italian personalities and 400 guests attending. In 2023, he obtained the title of Italian Wine Ambassador after passing the rigorous Vinitaly International Academy (VIA) exam.