They start today, April 15, 2024, the premiere celebrations National Day of Made in Italy, an event promoted by the Ministry of Business and Made in Italy with the aim of enhancing the creativity and high quality of Italian products. The choice of this date is not random, as it coincides with the anniversary of the birth of Leonardo da Vinci, considered an icon of Italian art and manufacturing. The day to celebrate Made in Italy is set for today but the celebrations will last until April 21st, with a series of events throughout Italy to support and promote, both nationally and internationally, the productive excellence and cultural heritage of our Village.
But how much is Made in Italy worth?and what is the perception of the Italy brand in the world?
How much is Made in Italy worth?
If you look at brand value, Italy is ninth in the world with a value of 2.326 billion dollars, equal to 2.18 billion euros. This is attested by National Brand 193 2024 Ranking and it is a very important position considering that there are over 193 nations in the world in the ranking. Brand value is a resource of enormous importance, which is reflected in numerous industries and supply chains that enjoy consolidated credibility both nationally and internationally. Just think of fashion, design, tourism and, last but not least, the importance of the food sector.
This prestige contributes not only to the promotion of Italian products and services on the global market, but also to consolidate the country’s image as a whole, promoting economic growth and the valorization of Italian culture and identity in the world.
Food in Italy: a 580 billion euro sector, exports are increasing
It is now well known that food is one of the most important assets for Italy: despite the challenges imposed by the energy crisis resulting from the conflict in Ukraine, according to an analysis conducted by Coldiretti in the first half of 2023 the Italian food sector was the first wealth of the country in 2022, reaching a value of 580 billion euros.
Made in Italy at the table constitutes almost a quarter of the national GDPinvolving a vast network that extends from field to fork, with approximately 4 million workers engaged in 740 thousand agricultural companies, 70 thousand food industries, over 330 thousand catering companies and 230 thousand retail outlets. This network spread across the entire Italian territory guarantees the daily supply of national consumers, who have never suffered from the lack of quality food products, despite the adversities caused by the pandemic and the war.
In 2023, according to Istat data on foreign trade processed by Unionfood and presented in recent days, Italian exports in the sector exceeded 21 billion euros, by registering a increase of 8% compared to the previous year. Foreign tables were enriched above all by the presence of high quality Italian products, such as pasta, which reached the figure corresponding to around 3 billion dishes served, as well as 55 billion cups of coffee, 500 million ice cream cones, cups and sticks, and almost 1 billion kilograms of other sweets, including biscuits, rusks, crackers, pandoros, panettone and colombe.
Among the Unionfood sectors that have recorded greater export growth are chips and snacks (+22.4%), broths, soups, sauces and gravies (+20.7%) and bakery products (+13.2% ). But all the categories represented by the association recorded positive performances. Data that confirms how strategic the food sector is for the country.
The most famous brands abroad
But it’s not just the food that makes Italy famous in the world: the ranking BrandZ Most Valuable Italian Brands, drawn up by Kantar, world leader in insights, consultancy and data management, measures Made in Italy by calculating the market value of the most important Italian brands.
And according to the 2024 ranking, Gucci reaches first place among Italian brands, with a value of 26 billion dollars, equal to 24 billion euros. Second is Enel with 12 billion euros (up 37%) and Ferrari with 9, with an increase in brand value of 30%. The total value of the top 40 most valuable Italian brands increased by 11%, reaching almost 123 billion dollars, equal to 115 billion euros.
- Gucci: €24.330 billion
- Enel: €12.334 billion
- Ferrari: €9.474 billion
- Kinder: €8.212 billion
- TIM: €7.159 billion
- Prada: €4.865 billion
- Fendi: €4.756 billion
- Nutella: €3.414 billion
- Generali: €3.101 billion
- Ferrero Rocher: €2.808 billion
The post-pandemic economic recovery has led to 28 brands in the ranking recording growth, which reflects the growth in consumer confidence.
What will be the future of Made in Italy in the world?
According to the latest forecasts from the Sace insurance group, Italy’s total exports of goods could reach 652 billion euros by the end of 2024, driven by a recovery in international trade estimated at just under 2% after the stagnation recorded in 2023.
In the agri-food sector exports should continue to grow, improving on the record level of 64 billion euros achieved in 2023 with an increase of 5.7% compared to the previous year. The gap with Spain has narrowed to six billion euros. Exports from the food industries also reached an all-time high of 52 billion euros in 2023, almost doubling over the last ten years. In 2023, for example, cheese exports increased by almost six percentage points compared to the previous year, while the export of fresh fruit and vegetables grew in value by over 9%.
It is true that “Made in Italy” agri-food is gaining more and more attention worldwide, but we cannot ignore some critical situations. FromGermany’s uncertain economic performancewhich represents the first outlet market for Italian products, the instability of the Chinese economy and global geopolitical tensions, there are several factors that can influence Italian exports.
Furthermore, the outcome of the presidential elections in the United States in November it could lead to protectionist policies, with a possible increase in customs tariffs that could hit Italian exports.
Another challenge is represented by difficulties emerged in wine sales abroad. Contrary to the general trend, exports to the main outlet markets recorded a decrease in 2023, according to data from the Observatory of the Italian Wine Union. This decline affected all the main wine producing countries.
To face these challenges, it is important to open new markets and actively promote Italian products. Promotion plays a fundamental role in expanding towards new markets and maintaining the competitiveness of Italian products abroad.
Tags: billion mark famous brands QuiFinanza
