Exceptional year for Parmigiano Reggiano: 2021 closed with excellent results both in terms of sales and prices, the consumer turnover reached the all-time high of 2,7 billion euros against 2,35 billion in 2020. The value generated in production was also at its peak with 1,71 billion euros against 1,52 billion in 2020. 2021 was also a record year for production, which grew overall by 3,9% compared to the previous year. THE 4,09 million formsand (about 163 thousand tons) represent the highest level in the history of Parmigiano Reggiano. Volumes that lead the Consortium to aim more and more abroad: markets with great development opportunities for a production in continuous, but programmed, expansion.
La export share has in fact risen to 45% (+2,9% growth in volume compared to the previous year). The United States is the first market (21% of total exports), followed by France (19%), Germany (17%), United Kingdom (11%) and Canada (5%). In the most important markets, the best performances, compared to 2020, were recorded in the USA (+10,4%), France (+4,5%) and Canada (+5,5%). Most European markets also grew, especially Switzerland (+14,7%) and Sweden (+13,2%). On the other hand, the United Kingdom (-15,6%) lost ground due to Brexit, and Germany (-1,9% but after significant growth compared to 2019).
USA, France, Germany main importing countries
In general in the last four years, the production of Parmigiano Reggiano has increased from 3,7 million shapes to 4,09 million shapes, recording a growth of 10,6%. On the markets, Parmigiano Reggiano recorded a positive and stable price in 2021: the annual average was 10,34 euros per kilo (12-month Parmigiano Reggiano from a producer dairy), with price fluctuations contained between 10,25 €/kg and €10,40/kg. It should be remembered that in 2020 the average was 8,57 €/kg and in 2019, before the start of the pandemic, 10,76 €/kg (source: Parma Comprehensive Merci Exchange).
THEincrease in consumption in Italy recorded a +4,5% compared to pre-pandemic levels: 89.101 tons in 2021 against 85.258 in 2019. The figure is slightly down (-1,3%) if compared to that of 2020: an extraordinary year in which, due to the first lockdown, there was a boom in domestic consumption of the product. There GDA remains the first distribution channel (51%), followed by direct sales by dairies which record a strong increase, and by industry (14%), which benefits from the growing popularity of products characterized by the presence of Parmigiano Reggiano among the ingredients. The Horeca channel remains at the rear, and therefore has enormous development potential, but recovers volumes and stands at 7% of the total compared to 2% recorded in 2020. The remaining 8% is distributed in the other sales channels.
"The truce that Covid is giving to Europe could herald, according to the WHO, the end of the pandemic - said Nicola Bertinelli, president of the Parmigiano Reggiano Consortium - Our supply chain has not only withstood the shock wave of Covid but in this year it managed to expand consumption and find stability in producer prices. Now that we are exiting this phase, we will have to deal with the reflections of a market which has been tonic but which could show - following a production increase driven by prices and demand - problems of excess supply. The marketing plan and the new production plans, approved in the Shareholders' Meeting in December 2021, are the two main tools with which we are preparing to face these short and medium-term challenges in order to once again place Parmigiano Reggiano on a strong growth trajectory and long-term".
