Exporting agribusiness is proving to be an increasingly attractive opportunity for Italian companies. Figures for 2023 reveal that Italian agrifood exports have reached a new record, surpassing 62 billion euros. This milestone represents one of the best performances among the world's leading exporters, with a 6% increase. Only Germany experienced slightly higher growth, up 6.2%, while France, China and the United States ended the year with negative results.
Italian export growth was mainly driven by European Union markets (+9%), with significant contributions also coming from Central and South America (+9%).
Several industry trade shows have been held recently that have confirmed this positive trend. What new opportunities have emerged from these events?
Italian agrifood exports continue to grow, driven by several key factors.
The prestige of the Made in Italy undoubtedly plays a key role, attracting global consumers through its reputation for high quality and authenticity. In addition, the increasing use of organic products responds to the growing demand for healthy and sustainable food, further strengthening Italy's position in international markets.
And this is well demonstrated by two of the most relevant international trade fairs for this market.
Excellent news for Italian agrifood exports to the Middle East comes from the Italian Pavilion, which opened in Gulfood 2024, the leading exhibition of the F&B industry in the United Arab Emirates and throughout the region. Gulfood has become a strategic event for Italian companies, with as many as 200 domestic companies participating.
During the event, the latest data on Made in Italy food and beverage exports to the Emirates were released, highlighting the great potential of the sector in this country. As of November 2023, Italy has exported agri-food products worth more than 412 million euros, registering a growth of 8.4%, higher than that of Made in Italy as a whole.
Special mention should be made of the program “Italian Food Lab“. This project aims to educate the local and international market about the organoleptic and health peculiarities of Italian products, countering the phenomenon of Italian Sounding.
The Italian Food Lab will also provide an opportunity to support the candidacy of Italian Cuisine as a UNESCO Intangible Heritage of Humanity, recognizing the value and uniqueness of the country's culinary tradition, and reinforcing its position as a world leader in the agri-food sector.
During Cibus 2024, the flagship exhibition for the agribusiness sector held at Fiere di Parma from May 7 to 10, significant data were presented showing that between 2013 and 2023, the industry went through a decade of remarkable development. The growth of the italian exports in the sector touched a total value of $64 billion, accounting for about 10% of European exports.
One of the main themes of this edition was the importance of PDO and PGI products as quality indicators that incentivize consumption. PDO and PGI labeling on packages not only increases the general propensity to buy, but also prompts buyers to prefer higher-priced products.
One innovation that emerged during the event was the use of artificial intelligence to combat food counterfeiting. For example, the Nina project, promoted by the Consortium of Mozzarella di Bufala Campana DOP, aims to protect this Italian food excellence from imitations and to combat the phenomenon of Italian sounding.
Sustainability was another key theme of the fair. Sustainable packaging was identified as crucial, with two out of three Italians seeing it as decisive in their purchasing choices and one in two seeing it as crucial in making a product more environmentally friendly.
Antonio Cellie, CEO of Fiere di Parma, reiterated this concept also referring to foreign countries, saying that “trends such as organic, driven by Generation Z and millennials, continue to grow overseas.”
This is an important element to consider for companies that want to export agribusiness And stand out from competitors.
Particular attention was paid to the American market, valued at $1.5 trillion considering retail and alcohol, thus turning out to be ten times larger than that of Europe.
During the conference USA4 Cibus, carried out in collaboration with the American Chamber of Commerce in Italy, opportunities for Italian companies to invest in the United States, especially in the era of the Inflation Reduction Act, were discussed. This program offers substantial tax credits for clean energy-related projects, also involving the agribusiness sector. In addition, the program SelectUSA will further facilitate investment in the country by foreign companies.
Caroline Chung, Principal Commercial Officer of the U.S. Consulate General in Milan, pointed out that. “no other food influences culture in America and around the world like Italian food. The Italian food industry is globally successful because of the quality of its products and the fame it has earned.”
What are the most promising target countries for companies involved in export agribusiness, beyond the United States?
La Germany, historically Italy's main trading partner in various sectors, is also confirmed as the preferred destination for agrifood exports. In 2023, sales to Germany exceeded 10 billion euros, registering a growth of 7.3% over the past five years. The biggest demands come from the beverage, pasta and bakery sectors.
La France is another major market, accounting for 11% of total Italian agri-food exports and registering 8.7% growth over the past five years. French consumers mainly demand pasta, baked goods, milk and dairy products.
In addition to European markets, new opportunities are emerging in countries with growing economies.
L’India, which sees Italian export growth of 9.3%, is the world's second largest producer of fruits and vegetables. It offers considerable opportunities in the sectors of agricultural machinery and agrifood preservation and processing processes. In fact, about 40% of Indian agricultural production perishes before it reaches consumers due to inefficiencies in preservation technologies. This creates room for innovation and efficiency in Italian technologies.
The Vietnam forecasts a growth in agri-food imports from Italy of 10.2% annually until 2028, offering significant new export opportunities for Italian companies interested in expanding their presence in this particularly dynamic market.
Also the South Korea shows promising growth prospects, with a projected increase of 8.4% annually until 2028, thus presenting further expansion opportunities for Italian companies in the agribusiness sector.
Octagona offers internationalization strategies for Italian companies, also supporting them in the agribusiness export process. Our professionals help companies identify the most promising markets, adapt products to local regulations, and develop effective trade networks. Contact us for more information.
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