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CLASS

China to be one of the main importers of PGI Balsamic Vinegar of Modena

November 17, 2021


Abstract : The Modenese Monari Federzoni, leading producer of the famous PGI product in Italy led by Sabrina Federzoni, grew by 80% y-o-y in China mainly thanks to its quality and to product innovation, with successful data also in the EU and US markets.

MILAN, Nov. 11 (Class Editori) -- Made-in-Emilia-Romagna agri-food keeps growing in China. The Modenese Monari Federzoni led by CEO Sabrina Federzoni — a historical company based in Solara di Bomporto, co-leader of the Italian market and producer of PGI Balsamic Vinegar of Modena, dressings and drinks — recorded an 80% growth y-o-y in exports to China compared to 2020. As concerns the EU market, the Group recorded its best results in the Iberian Peninsula with a 63% growth.

Sales have been led by PGI Balsamic Vinegar of Modena, a symbolic product of the Italian know-how, which has been produced for years by Monari Federzoni, that is deeply linked to the territory and was the first company to receive the license to produce the precious dressing in Italy in 1912 but also fruit and wine vinegars and glazes.

Balsamic Vinegar of Modena PGI is one of the most exported Italian agri-food products worldwide, with 92% of the production destined for foreign countries, especially the US, Germany, France and the UK, and with positive trends also in the Far East (Japan and South Korea), according to data published by the Retail division of the Consortium of Balsamic Vinegar of Modena.

By considering the performance in relation to the several channels, in 2021, the company's retail exports are in line with 2020's already positive data, while sales grew by 53% in the food service industry thanks to the recovery of out-of-home consumption linked to the openings of businesses.

"Product innovation, enhancement of tradition, distribution capillarity and continuity in trade relations are the key factors that allowed us to seize the opportunities linked to recovery after a difficult year," Matteo Candotto, Sales Manager of Monari Federzoni, explained. "The results we are recording confirmed the appreciation of Made-in-Italy agri-food excellences abroad with products that increasingly need to be safeguarded against the attacks of both Italian sounding and operations against the quality and long-standing legacy typical of Italian excellences".

Monari Federzoni PGI Balsamic Vinegar of Modena was also the protagonist of the recent exhibitions Cibus and Anuga, reference events for the international food & beverage sector, which gave new momentum to physical commercial relations.

During the two fairs, Monari Federzoni presented its wide range of products, with a particular focus on the innovations in the PGI Balsamic Vinegar of Modena line, in which each product is characterized by its taste. From this new concept are born "Lively taste", fruity and with a marked acidity, ideal for cooking and marinating meat and fish; "Round taste", a full, complex and harmonious flavor, with a perfect sweet-and-sour balance loved by consumers, designed to dress salads and raw vegetables; "Full-bodied taste", soft and intense, with woody aromas, perfect for cooked meat, fish and vegetables; "Velvety taste", a dense, sweet and creamy product that perfectly enhances the flavors of fruit, desserts and cheese. These innovations are aimed at guiding the consumer in a path of knowledge, supporting customers in the choice of the most suitable cooking use while promoting a greater appreciation of a precious product with a long tradition.

Monari Federzoni was the first company of the sector to get the license to produce this dressing in Italy in 1912, thanks to the more than 100 hectares of vineyards surrounding the firm, and it still obtains the musts for its excellent products by carefully overseeing the whole process.

In order to guarantee the highest quality, it also internally produces wine vinegar used for fermentation. The company has five diversified bottling lines in terms of speed and automation that meet all consumption needs and give rise to a range of 300 references. Monari Federzoni employs about 40 workers at its headquarters and plant in Solara di Bomporto, produces 12 million bottles a year and exports to 60 countries worldwide. Furthermore, in 2020 it achieved a turnover of 18 million euros.

In December 2020, it acquired Fattorie Giacobazzi, a Nonantola-based company specialized in the production of Balsamic Vinegar of Modena, thus creating one of the most important hubs for this product with 84 employees and about 5,500 barrels for a production capacity that covers about 25% of total sales of the aged product in the world. The two companies export a total of 18 million bottles to over 55 countries, with an aggregate production equal to 11% of the total PGI Balsamic Vinegar of Modena sold worldwide.

(Source:Class Editori)

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Keyword: PGI Balsamic Vinegar

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