Parmigiano Reggiano Reports 3.2 Billion Turnover in 2024 With Strong Export Gains

Milan, 17 April 2025– During the annual press conference at Palazzo Giureconsulti in Milan, the Parmigiano Reggiano Consortium reported its 2024 performance results. Despite a challenging geopolitical environment, uncertainty in international markets and concerns over increasing trade restrictions, overall, the turnover at consumption reached a historic high of 3.2 billion Euros compared to 3.05 billion in 2023, with an increase of 4.9%. Total sales volumes grew by 9.2% supported by a strong performance in the domestic market (+5.2%) and even more so in exports (+13.7%). 

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%). As for the provinces in the area of production, Parma was the largest producer (1.362.226 wheels vs 1.350.415, +0.87%), followed by Reggio Emilia (1.217.128 wheels vs 1.217.380, -0.02%), Modena (877.874 wheels vs 860.971, +1.96), Mantua (507.631 wheels vs 476.361, +6.56) and Bologna (114.389 wheels vs 109.173, +4.77%).

Italy accounted for 51.3% of sales (Source: Nielsen Sell-In). As regards distribution channels, Large Retailers came first once again (65%), followed by food manufacturers (18%), which benefited from the increasing popularity of products featuring Parmigiano Reggiano among their ingredients. The Ho.Re.Ca channel remained at the tail end of the list, with enormous potential for development, accounting for 7% of the total. The remaining 10% was distributed through the other sales channels. Direct sales from cheese factories (over 85% in Italy, with approximately 9,000 tons sold) accounted for 5.5% of total sales and recorded a strong increase (+13.0%).

For the Consortium one key takeaway from 2024 is clear: the future of Parmigiano Reggiano lies in international markets. Exports now account for 48.7% (72,440 tons), almost half of total sales, with a +13.7% growth. The five main international markets showed strong performances: USA (+13.4%), France (+9.1%), Germany (+13.3%), UK (+17.8%) and Canada (+24.5%). Growth was also recorded in Japan (+6.1%), the leading Asian market, and Australia (+28.2%). With 28.4 million Euros invested in marketing and communication, Parmigiano Reggiano confirmed the process started years ago to become a true global iconic brand, ready to meet the challenges posed by extremely large markets, where the large number of imitation products creates great confusion for customers. The Consortium is working to enhance the PDO distinctiveness, providing consumers with more information on its characteristics: maturation, origin, production process and taste, all elements that give the opportunity to stand out 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.”