North America-Europe trade is still expanding

Fiera Milano, Rho
08-11.05.2023

Focus North America

North America-Europe trade is still expanding

Italy is dominated by oil, baked goods and alcoholic beverages. By contrast, the most imported products from the USA and Canada are alcoholic beverages, meat and fish. 

What is exchanged between Italy and North America? The real star is Food. This is confirmed by ExportPlanning data processed exclusively for TUTTOFOOD 2023. In total, the two markets are worth 5.9 billion euro, destined to become 7.7 in 2025 (+6.9% per year). In particular, trade between Italy and the USA in 2021 was close to 5 billion euro, of which more than 96% was exported from Italy for a record value of 4.8 billion euro. On the other hand, trade with Canada amounts to approximately one billion euro and more than 97% of this is accounted for by Italian exports. By 2025, the two values will increase to 6.4 billion for the United States (+6.6%) and 1.3 billion for Canada (+8.3%).

 

As far as the US market is concerned, there is double-digit growth (+15.6%) for alcoholic beverages, which will rise from almost 400 million euro to 700 million in 2025, and for bakery products, which will increase from 350 to 510 million euro (+10.1%).  The most exported food product in absolute terms is oil, which was worth over 824 million euro in 2021 and will reach 978 million in 2025 (+4.4%). This is followed by water and non-alcoholic beverages with 441 million euro, which is projected to be worth 561 million in 2025 (+4.8%). Representing about one third of the USA market (32.2%; 36.9% in 2025), Italian cured meats stand out in terms of market share with about 125 million euro in value.

 

Alcoholic beverages remain the best export performer in Canada. These will rise from almost 34 million euro in 2021 to over 62 million in 2025 (+12.2%). The increase in bakery products with almost 10%, from 88 to more than 125 million euro, is also considerable. Like the USA, Canada is also an excellent importer of oil with 97 million euro, which will reach 126 million in 2025 (+6.7%). Italian cured meats are also reigning the market in Canada, accounting for over one-fifth of the total (20.5% in 2021, 21.7% in 2025).

 

 

Imports are also doing well

 

As far as imports are concerned, Italy imported alcoholic beverages from the USA for about 90 million euro in 2021, rising to 114 million in 2025 (+6%). Next comes the import of fish, for which Italy is investing 37.5 million, rising to 47 million euro (+5.8%). Strong growth is expected by 2025 for milk and dairy products (+188%) and rice and pasta (+83.2%). Imports from Canada were close to 26 million euro in 2021; a significant increase to almost 110 million is expected by 2025. The most imported product is fish, which alone is worth 18 million euro. A big jump is expected for bakery products (+175%) and meat (+93.4%).

 

And the “world-on-world” trade will be the star at TUTTOFOOD, from 8 to 11 May 2023 at fieramilano. These two events are expected to support the business of operators through networking with trade associations and by meeting companies both as exhibitors and visitors.