A a record year for Parmigiano-Reggiano (PDO) production, 2020 saw a total increase of 4.9% globally over the previous year. The export share was 44% (+10.7% of volume growth vs. previous year). Of the main international markets, the best performance was recorded in the GCC countries (+62.3%), followed by the United Kingdom (+21.8%), Germany (+14.8%) and France (+4.2%).
“Despite the difficulties associated with the pandemic, Parmigiano Reggiano ended 2020 with a successful result that has rewarded the reputation, the quality of the PDO product with the highest value in the world. Consumers forced to give up out-of-home meals for several months have shown their preferences very clearly on all markets. We are ready to deal with a challenging 2021: the Parmigiano-Reggiano brand can become a true global brand and we are working in this direction,” says Nicola Bertinelli, President of the Parmigiano-Reggiano Consortium.
The 3.94 million wheels of cheese (about 160 thousand tonnes) produced in 2020 represent the highest peak in the age-old history of Parmigiano-Reggiano. A 2.35 billion euro turnover for the protected designation of origin product, which is increasingly expanding abroad: an outlet for a constantly growing production that needs new market spaces. In the last four years, production rose from 3.47 million to 3.94 million wheels with a 13.5% increase.
Parmigiano-Reggiano also enjoyed a very good 2020 as far as prices are concerned. If in the first semester, the price of 12-month cheese was 7.55 euro/kg, at the end of the year it rose above 10 euro/kg. The average annual price (8.56 euro/kg) was below the 2019 price, but the remarkable increase in the second half of the year led to a recovery of margins.
Italy – which accounts for 56% of the market for Parmigiano-Reggiano – recorded a 7.9% increase of the sales volumes. Globally, Large Retail is still the top distribution channel (61%), followed by normal trade (13%), retail (12%) and food industry (4%).
The Horeca channel accounts for only 2% – thus with open to considerable margins for improvement – and experienced a drastic fall caused by the closure of restaurants during the pandemic. The remaining 7% is distributed in other sales channels.