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Parmigiano Reggiano Reaches Over 3.25B Record Milestone; Nicola Bertinelli Comments

Parmigiano Reggiano Reaches Over 3.25B Record Milestone; Nicola Bertinelli Comments


MILAN, ITALY
Friday, April 5th, 2024

During the annual press conference at Palazzo Giureconsulti in Milan, the Parmigiano Reggiano Consortium reported its 2023 performance results, revealing a year of great challenges, positive trends, and continued investments for the PDO.

Nicola Bertinelli, President, Parmigiano Reggiano Consortium"2023 was a year of great challenges for Parmigiano Reggiano, but it ended with positive results, with sales up by 8.4 percent and exports up by 5.7 percent," said Nicola Bertinelli, President of the Parmigiano Reggiano Consortium. "In the near future, the Consortium will increasingly need to invest in the growth in foreign markets, which represent the future of our PDO."

With 31.8 million euros invested in marketing, communication, and market development in 2023, Parmigiano Reggiano confirmed the process started years ago to become a true global brand, a press release explained.

Some of the highlights reported in the release include:

  • Turnover at consumption reached a historic high of 3.05 billion euros (over $3.25B USD) compared to 2.9 billion in 2022, an increase of 5 percent
  • Production remained stable compared to 2022: 4.014 million wheels vs 4.002 million in 2022 (+0.3 percent)
  • Large Retailers came first once again (65 percent), followed by food manufacturers (17.1 percent), which benefited from the increasing popularity of products featuring Parmigiano Reggiano among their ingredients

The Parmigiano Reggiano Consortium reported its 2023 performance results, revealing a year of great challenges, positive trends, and continued investments for the PDO“In 2024, our Consortium turns 90, but we feel more energetic and future-oriented than ever. We are experiencing a period of profound change, in which the inevitable revolutions of the future are clearly emerging: the issue of sustainability; managing production costs in a scenario of global uncertainties; protection of markets and free trade agreements in the global dimension; new consumer sensitivities,” Bertinelli added.

The full release can be accessed here.

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