Parmigiano Reggiano: Record of 3.2 Billion Euros in Consumption in 2024. Total Sales Increased (+9.2%): Italy (+5.2%) and International (+13.7%)

Canada with strong 24.5% growth, highlighting the nation’s deepening passion for authentic Parmigiano Reggiano

/EIN News/ -- TORONTO, May 05, 2025 (GLOBE NEWSWIRE) -- During the annual press conference at Palazzo Giureconsulti in Milan on April 17, the Parmigiano Reggiano Consortium reported its 2024 performance results. Despite a challenging geopolitical environment, uncertainty in international markets, and concerns over increasing trade restrictions, turnover at consumption reached a historic high of 3.2 billion Euros compared to 3.05 billion in 2023, marking an increase of 4.9%. Total sales volumes grew by 9.2%, bolstered by strong performance in the domestic market (+5.2%) and a particularly impressive surge in exports (+13.7%).

Among international markets, Canada stood out with a remarkable 24.5% growth in imports, reflecting the country’s growing appetite for premium, authentic food products.

Canada has emerged as a key growth market for Parmigiano Reggiano, with the first quarter of 2025 marking a particularly strong performance. Imports of the iconic Italian cheese increased by an impressive 64.0% compared to the same period in 2024, and a remarkable 166.4% over 2023. This growth is the result of targeted marketing and trade initiatives in collaboration with leading Canadian retailers and importers, which have significantly boosted visibility and consumer demand. Importantly, monitoring activities have confirmed that Parmigiano Reggiano continues to be properly recognized and protected in the Canadian market, with no significant violations reported. These results underscore the success of the brand's strategic efforts in Canada and its continued resonance with Canadian consumers.

“Canada’s exceptional 24.5% growth is a testament to the country’s evolving culinary culture and its appreciation for authentic, PDO-certified products like Parmigiano Reggiano,” said Nicola Bertinelli, President of the Parmigiano Reggiano Consortium. “Canadians are discerning consumers who value transparency and tradition—and we are proud to see our cheese becoming such a beloved part of their lives.”

Producer prices also increased. In 2024, the average price for 12-month matured Parmigiano Reggiano rose to €11.0/kg, up 9% from €10.13/kg in 2023. For 24-month matured cheese, the price climbed to €12.5/kg with a 5% increase over the previous year’s €11.90/kg.

Production remained stable compared to 2023: 4.079 million wheels vs 4.014 million in 2023 (+1.62%). Parma led production (1.362.226 wheels), followed by Reggio Emilia, Modena, Mantua, and Bologna.

Italy accounted for 51.3% of sales (Source: Nielsen Sell-In). Regarding distribution channels, Large Retailers came first once again (65%), followed by food manufacturers (18%)—who continue to innovate with Parmigiano Reggiano as a hero ingredient. The Ho.Re.Ca channel, while still emerging (7%), offers vast potential. Direct sales from cheese factories accounted for 5.5% of total sales, with a 13.0% increase year-over-year.

For the Consortium, one key takeaway from 2024 is clear: the future of Parmigiano Reggiano lies in international markets. Exports now represent 48.7% of total sales, with strong growth across key regions: USA (+13.4%), France (+9.1%), Germany (+13.3%), UK (+17.8%), and Canada (+24.5%). Growth was also seen in Japan (+6.1%) and Australia (+28.2%).

With 28.4 million Euros invested in global marketing and communications, the Consortium continues its long-term strategy to protect the PDO designation and educate global consumers about the cheese’s unique qualities—maturation, origin, production process, and flavour—that distinguish Parmigiano Reggiano from competitors.

“2024 was a challenging year for Parmigiano Reggiano, yet it ended with record results: turnover at consumption reached an all-time high of €3.2 billion, total sales volume rose by 9.2%, domestic sales increased by 5.2%, and most notably, exports grew by 13.7%,” said Nicola Bertinelli, President of the Consortium. “Looking ahead, we must increasingly invest in international market growth.

"With exports now nearing half of total sales at 48.7%, creating space in foreign markets is a necessity. The United States, our top international market, plays a crucial role in this context. The news of increased tariffs on Parmigiano Reggiano is disappointing, but as a premium product, price increases do not automatically reduce demand. We aim to pursue diplomatic solutions to explain why such tariffs are unreasonable for a product that does not directly compete with American parmesan cheese. We need to engage in meaningful dialogue—not on a bilateral level, but through the European Union—to avoid counterproductive trade wars.

"We are experiencing a time of great change, driven by ongoing conflicts, trade restrictions, and a shift in consumer values. Today’s consumers seek products that feature authenticity and heritage—values embodied by Parmigiano Reggiano. Our goal is to make Parmigiano Reggiano not just a cheese, but a lifestyle, a true icon of Italian craftsmanship. The Consortium is ready to meet the challenges ahead.”

For more information or to schedule an interview, please contact:

Julie Rusciolelli
President, MAVERICK PUBLIC RELATIONS
julier@wearemaverick.com 
(416) 457 – 9954

Sierra LeBlanc
Account Executive, MAVERICK PUBLIC RELATIONS
sierra@wearemaverick.com
(647) 405-2196

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/6cf092e0-043f-442f-83a8-5547b62cd6a1