Millions of people worldwide share the opinion that Italian wine is the best. But why is that? Italy – the “Land of Wine” is blessed with sprawling vineyards where approximately 2,000 varieties of grapes are grown, each with a distinctive taste and character.
Supported by the perfect climate for viticulture, Italy’s wines are exemplary and are of the finest quality. From Barolo, Chianti, and Pinot Grigio to Lambrusco Bianco e Rosso, you get to choose from a variety of red and white wines.
Moreover, these wines are specifically prepared to be paired well with food, where they accentuate the taste and turn any good meal into a great meal.
Surge In Italian Wine Exports
Italian wine exports grew 12% in value in 2021 and exceeded the value of 7.1 billion euros. This is because of the increase in demand for wine in the EU market and among non-EU countries.
Moreover, the sharp increase in exports was also witnessed due to the reopening of restaurants worldwide after facing a setback in 2020 due to the Covid-19 pandemic.
The most significant growth in Italian wine exports was seen in the United States in the non-EU market. Regarding the EU market, Germany took the lead in being the top market for Italian wine.
Not only this, after facing trade restrictions and other setbacks in the Asian market in 2020, exports have gone half a billion euros up in 2021. Among Asian countries, Singapore is one of the most important wine markets, as evidenced by Italy’s export value in Singapore increased by 34.5 percent in 2022.
What makes Singapore dominate the Asian market is its economic stability which cannot be seen in western economies owing to inflation and strained household expenses. It is an expat-led market where wine is expensive due to high import costs and taxes imposed on it.
Borsa Vini Italiani – A Line-Up Of Italy’s Finest Wines On Display
Organized by the Italian Trade Agency (ITA), Borsa Vini Italiani is a one-day trade event that showcases some of the best Italian wines to rouse local wine buyers’ interests, connoisseurs, and restaurant owners. This event offers an opportunity to connect with wine owners and winemakers from Italy’s popular wine regions.
The third edition of the Borsa Vini event in Singapore was held at CHIJMES Hall, where almost 30 top wine producers from 10 regions of Italy displayed their wine collections. The ITA also arranged seminars with professional sommeliers to ensure that the Italian culture and wine taste continues to excel in Singapore with the same fervor.
As an initiative to promote Italy’s excellence in the food and beverages sector and instill an appreciation of its wine, the ITA also participated in the Food and Hotel Asia event and arranged live cooking classes from expert Italian chefs.
Moreover, the ITA also brought ten wine importers from other ASEAN countries, such as Thailand, Malaysia, and the Philippines, to familiarize the people of Singapore with new flavors and support the growth of B2B in the ASEAN region.
Is Singapore’s Penchant For Italian Wine Growing?
Singapore has lately emerged as a bright star in the universe of premium wine. Despite high import costs and other restrictions, Singapore is witnessing a broadening pool of wine drinkers.
Not only formal events, but we are also witnessing huge spending on wine in informal settings, which demonstrates that the thirst for premium Italian wine is growing among consumers.
ITA Website: www.ice.it/en
ITA LinkedIn Page: www.linkedin.com/company/itaitaliantradeagency
ITA Singapore LinkedIn Page: www.linkedin.com/company/itasingapore
ITA Instagram Page: www.instagram.com/itatradeagency
ITA Singapore Instagram Page: www.instagram.com/itasingapore
