No man, it doesn't exist here. Continue reading to understand that it is the least Italian thing in the world.
Alfredo sauce is made of butter, heavy cream, and Parmesan cheese. How do you think this could make sense in Italy?
There are problems everywhere
Butter is used very few times in pasta in Italy, and when it is used, it's either in very small doses in specific recipes, or it's the only ingredient (see pasta with butter). In general, butter is used mainly in northern Italy. In large parts of the peninsula it's a rare ingredient — particularly where pasta is most consumed, in the center and south.
Italian cuisine is low in saturated fat — one of the reasons we live longer than other peoples. We prefer nutrient-rich ingredients. For comparison, you can check how an extremely high-calorie sauce like pesto alla Genovese is still infinitely more nutrient-dense than Alfredo sauce.
Our Parmigiano Reggiano is NOT Parmesan Cheese. Parmigiano Reggiano is produced in very few areas in Italy between Emilia, Lombardy and Veneto, and it is very expensive. It's simply ridiculous to think it can be used industrially in sauces. We normally use a sprinkling of it on pasta at the end.
The golden rule
If you use cream in Italian cooking you are insulted (rightly) for months. There are exceptions, but they're hardly accepted. The closest thing to cream as a sensation is the sauce in carbonara, but let's remember that it's a recipe originated by American soldiers who had only bacon and powdered egg on hand, and Italian cooks made something tasty out of it. But carbonara is not more than 70 years old, and it's made with egg.
I know the Romans say the opposite. But we too can be ignorant. Just a gentle reminder: we elected Silvio Berlusconi long before you elected Donald Trump.
The big picture
You must understand that Italian cuisine started out as "un-pasteurized," with ingredients extremely rich in vitamins, unsaturated fats, fiber and valuable nutrients. It's based on complex whole-grain carbohydrates and olive oil. Recently it has deteriorated drastically with excessive addition of meat, simple sugars, non-whole carbohydrates, saturated fats, and processed foods. But many recipes — especially pasta dishes — remain true to the origin.
