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BEER&FOOD, ECONOMIC OUTLOOK: SECTOR GROWTH

Press release n. 8 of the 13/02/2024 9.58.35 ( download )

beerandfoodattraction.it

Rimini, 12th February 2024 . Ahead of Italian Exhibition Group´s Beer&Food Attraction (at Rimini Expo Centre from 18th to 20th February), the world of beer in Italy is in good health. Indeed, the sector has a shared value of 10.2 billion euros and generates 124,000 jobs along the supply chain. At the end of 2022, microbreweries in Italy had reached 1,326 units with a total of 9,612 direct employees and a growth of 104% in terms of breweries and 22% in terms of employees compared to 2015. The increase in agricultural breweries was particularly substantial: 290 at the end of 2022 with an increase of 22% compared to 2015. On the industrial production front, Italy boasts seven large groups with 12 production sites, more than 20,000 direct and indirect employees and a significant allied industry of about 120,000 people. In 2022, Italian beer production was 18.4 million hectolitres, up from 17.8 in 2021. Consumption also grew from 21 million litres in 2021 to 22.3 in 2022 with a per capita consumption of 37.8 litres. Exports were stable at 3.8 million hectolitres, while imports were up from 7.1 to 7.8 million hectolitres. (Source: Assobirra/Unionbirrai).

THE QUICK SERVICE RESTAURANT SECTOR: POSITIVE DATA AND NEW TRENDS AMONG CONSUMERS
Research conducted by Circana shows that the Quick Service Restaurant sector, which in Italy includes the world of bars as well as all establishments that do not provide table service - from fast food to pizza by the slice - recorded a growth in attendance of 6.9% in 2023 compared to the previous year, which is above the market average. While breakfast at the bar is an indicator of a return to greater out-of-home consumer mobility, lunch and snacks indicate a careful consumer moving from restaurants to quick service. 53% of consumers continue to eat out but activate strategies to cope with rising prices. The level of experience offered by quick-service establishments has increased over the years through new restaurant formats and service levels. Consumers are keen on innovation and looking for an experience that they cannot have at home.

OPENINGS OF NEW PREMISES
Last year was positive in terms of new establishment openings. According to FIPE-Confcommercio and FIEPET-Confesercenti surveys, 6,205 new restaurants raised their shutters registering +5.5% compared to 2022, while about 4,000 new bars opened. The pizzeria segment also recorded a positive sign by returning to pre-pandemic levels with 3,730 new businesses opened.

FULL RECOVERY FOR OUT-OF-HOME CONSUMPTION
Figures from FIPE-Confcommercio and FIEPET-Confesercenti also indicate a preliminary forecast for out-of-home meals in 2023 of 89.6 billion euros compared to 83.5 the previous year. A recovery also aided by the return of incoming tourism with over 65 million foreign visitors choosing Italy as their destination and an average expenditure of over 212 euros per person for breakfast, lunches, dinners and aperitifs. A result that contributed to a total amount of over 13.8 billion euros, the highest value since 2019. Spending in bars and restaurants accounted for 33% of foreign travellers´ total consumption in Italy, which in 2023 is expected to have reached 42 billion euros, an increase of +7.8% compared to 2022. A growth that brings foreign tourists´ spending to 4% of the total in Italy. Data that should be interpreted as a sort of declaration of love for Italian cuisine: success in the world of catering also drives Italy´s agri-food product exports, which reached the value of 31.7 billion in the first half of 2023, a 7.7% leap compared to the same period in the previous year.


MINERAL WATER: CONSUMPTION CONSTANTLY RISING WITH 252 LITRES DRUNK PER HEAD EACH YEAR
Mineraqua reports an increasingly positive trend in mineral water consumption. In 2023, 16.5 billion litres were produced, 14.9 of which were destined for the domestic market with a growth of 8% compared to 2022, a turnover of 3.1 billion euros and a per capita consumption of 252 litres (230 in 2021, 217 in 2020 and 225 in 2019).
The market scenario sees 130 companies in the country producing more than 250 brands. Bottled mineral water (plastic 81% and glass 16%) covers 97% of the market. The other packaged water categories (gallon bottles, cartons, cans and metal containers) account for 3% of the total and cover particular consumer segments. Sales in the Horeca channel, which account for 16% of the total, were recovering in 2023.

SOFT DRINKS ARE INCREASINGLY SUGARFREE
The trend in soft drink consumption is increasingly a healthy one. Surveys by Assobibe show how consumers favour both sugar-free drinks (+16% in the last 10 years) and those with a lower sugar content. 2022 figures for the soft drinks sector show that, with 32 million hectolitres produced, pre-pandemic levels were also exceeded with a 6% growth compared to 2019. The soft drinks sector saw around 100 companies operating in Italy, located throughout the country, with a higher concentration in the North West (42%), followed by the North East (28%), South and Islands (16%) and Centre (11%). 64% of the companies were small and medium-sized. Employees number 84,000 and the total turnover was 4.9 billion euros.


ABOUT BEER&FOOD ATTRACTION 2024
Dates: 18 . 20 February 2024; Organiser: Italian Exhibition Group SpA; edition: 9th; frequency: annual; info: https://www.beerandfoodattraction.it/

ABOUT BBTECH EXPO 2024
Dates: 18 . 20 February 2024; Organiser: Italian Exhibition Group SpA; edition: 6th; frequency: annual; info: https://www.bbtechexpo.com/

PRESS CONTACT ITALIAN EXHIBITION GROUP
Head of media relation & corporate communication: Elisabetta Vitali; press office manager: Marco Forcellini;
international press office coordinator: Silvia Giorgi; media@iegexpo.it

MEDIA AGENCY BEER&FOOD ATTRACTION: Mind The Pop - Martina Vacca: martina@mindthepop.it, mob. +39 339 748 4994; Fabrizio Raimondi: fabrizio@mindthepop.it, mob. +39 335 389 848; Stefano Chiossi: stefano@mindthepop.it, mob. + 39 388 739 4358.



This press release contains forecast elements and estimates that reflect the management´s current opinions (´forward-looking statements´), particularly regarding future management performance, realization of investments, cash flow trends and the evolution of the financial structure. For their very nature, forward-looking statements have a component of risk and uncertainty, as they depend on the occurrence of future events. The effective results may differ (even significantly) from those announced, due to numerous factors, including, only by way of example: food service market and tourist flow trends in Italy, gold and jewellery market trends, green economy market trends; the evolution of raw material prices; general macroeconomic conditions; geopolitical factors and evolutions in the legislative framework. Moreover, the information contained in this release does not claim to be complete, and has not been verified by independent third parties. Forecasts, estimates and objectives contained herein are based on the information available to the Company as at the date of this release.