Parmigiano Reggiano PDO recorded a historic €3.2bn in consumer turnover in 2024, up 4.9% from €3.05bn in 2023, despite geopolitical uncertainty and rising concerns over global trade restrictions.
Volume sales rose 9.2% year-on-year, driven by solid growth in both domestic and international markets. Sales in Italy increased by 5.2%, while exports surged 13.7%, now accounting for 48.7% of total volume — a reflection of the product’s growing global footprint.
EXPORT GAINS AND STRATEGIC INVESTMENT
The Parmigiano Reggiano Consortium reported export volumes of 72,440 tonnes, with particularly strong performances in its five core markets: the US (+13.4%), France (+9.1%), Germany (+13.3%), the UK (+17.8%), and Canada (+24.5%). Further gains were recorded in Japan (+6.1%) and Australia (+28.2%).
The Consortium invested €28.4mn in marketing and communications to capitalize on this momentum, aiming to position Parmigiano Reggiano as a global premium brand. Efforts have focused on highlighting the cheese’s distinctive qualities — such as origin, ageing, production methods, and flavour — in order to differentiate it from lower-cost imitations.
PARMIGIANO REGGIANO OUTLOOK AND TRADE CHALLENGES
Consortium president Nicola Bertinelli described 2024 as both “challenging and record-breaking”, citing foreign markets as key to sustaining future growth.
However, he flagged the risk of rising US tariffs, Parmigiano Reggiano’s largest export market, and called for a diplomatic solution at the EU level to avoid escalating trade tensions. Bertinelli reaffirmed the product’s unique status and dismissed comparisons with American-style parmesan, citing “no real competition”.
The Consortium’s forward strategy centres on strengthening the brand’s global image as a symbol of Italian craftsmanship and authenticity — attributes it believes are increasingly valued by consumers.
L’articolo Parmigiano Reggiano Breaks Revenue Record in 2024 proviene da Italianfood.net.