In 2022, Madeira Wine exports to the USA generated more than €3,000,000, in 2023 IVBAM reinforces promotional investment in this market

In 2022, Madeira Wine exports to the USA generated more than €3,000,000, in 2023 IVBAM reinforces promotional investment in this market

The Madeira Wine, Embroidery and Crafts Institute (IVBAM) highlights the encouraging results of Madeira Wine exports to the United States of America (USA), in the last two years, with this market taking the first position, in terms of exported/traded value. In fact, in 2022, exports of Madeira Wine to the USA, yielded €3,431,0006.54, 11% more than in the previous year, despite the slight decrease in terms of volume (-16%), which implies a consumption of higher ranges of Madeira Wine, a factor that may be related to the high American purchasing power, but also due to the more focused and professional dissemination on the part of IVBAM and the main agents in the Madeira Wine sector, in the USA.

In order to reinforce its focus on the North American market, IVBAM will promote the “Madeira Wine Experience – Los Angeles” event, which will take place on October 24th, at the “The Maybourne Beverly Hills” hotel.

Together with IVBAM, five Madeira Wine companies will be present at the event, namely: Justino's Madeira Wines, Madeira Wine Company, Henriques & Henriques, Vinhos Barbeito and Pereira D'Oliveira.

This event will last nine hours and will be entirely dedicated to Madeira Wine, being the stage for: tastings; seminars; masterclasses; foodmatching; speedtastings and cocktails, where Madeira Wine economic agents will have the opportunity to establish contacts with professionals in the US wine sector, including importers, retailers, cavistas, chefs, sommeliers, bartenders and journalists. And where guests/participants can discover and appreciate the qualities of Madeira Wine.

The main target of the action will be professionals in this market, however, the final part of the event will also be open to other wine lovers, in an informal atmosphere, but surrounded by the charm and elegance characteristic of Madeira Wine.

It should be noted that, last year, the “Madeira Wine Experience”, also organized by IVBAM, took place in New York, one of the most populous cities in the USA and a recognized center of cultural dynamism, proving to be a winning bet for all involved, which is why it will be replicated this year in another major American city - Los Angeles - known for being a gigantic center for business, entertainment, culture and with a great appetite for wine consumption, especially premium categories.

For IVBAM, investing in the promotion of Madeira Wine in the USA is fundamental, not only because of the excellent results that this market has presented, in terms of exported value, but also because of the historical link between both, since in the middle of the 17th century At the beginning of the 18th century, Madeira Wine represented two thirds of all wines consumed in the USA and on July 4, 1776, the “Fouthing Fathers” chose Madeira Wine for the “toast of independence”.

The implementation of this action is co-financed 50% by community funds, and 20% national funds, carried out by the OCM project to Support the Promotion of Wines in Third Country Markets (FEAGA Program).

 In addition to the wine aspect of the event, considering that Madeira Wine is inexorably linked to its land of origin, the Madeira Tourist Destination will also be promoted in the hope of contributing to enriching the event and sparking participants' interest in visiting Madeira.