Fine wines, sentiment for 2025 is positive, with Piedmont in the spotlight

Despite platforms such as the Liv-Ex seeing all indices in sharp decline for months, and wineries in every corner of the world telling of widespread difficulties in the markets, compared to the recent past, and in all value segments, for the 2025 approaching the sentiment is distinctly positive, especially for fine wines. With the Piedmont of great Barolo and Barbaresco being the region with the most potential for the near future, ahead of Champagne, Burgundy, Tuscany and California. This was said by the “Golden Vines Report” 2024 (formerly known as “The Gérard Basset Global Fine Wine Report”) by “Liquid Icons”, which polled the opinions of hundreds of wine merchants, distributors, producers, journalists, collectors, hôtellerie and restaurant representatives, auction house managers and others, from 106 countries around the world, who also decreed the “Golden Wine Awards” 2024, proclaimed in recent days in Madrid (awarded with a trophy-jewel created by the partnership between the world leader in cork, Amorim Cork, London silversmith Grant Macdonald, Spanish artist Nuria Moria and London artist Shantel Martin, ed.), choosing a wine legend from Spain such as Vega Sicilia as the “World’s Best Fine Wine Producer Award” (in the top 10, in order, Krug, Domaine Armand Rousseau, Domaine Leroy, Egon Müller, Château Latour, Gaja, Giacomo Conterno, Tenuta San Guido and Château d’Yquem), and then again the legendary Domaine de la Romanée-Conti as “Best fine Wine Producer Europe” (which surpassed in the top 10 category, in order, Vega Sicilia, Domaine Armand Rousseau, Krug, Gaja, Tenuta San Guido, Szepsy, Giacomo Conterno, R. López de Heredia and Egon Müller), Harlan Estate, California’s wine gem, as “Best Fine Wine Producer in the Americas”, and Henschke, in Australia, as “Best Fine Wine Producer in the Rest of the World”, while The Sadie Family Wines, from South Africa, is the “World’s Best Rising Star” (Piedmont’s Roagna is also in the top 10), and with the “Innovation Award” going to a wine legend from Spain like Familia Torres, ahead of Italy’s “Vine Master Pruners,” Simonit & Sirch. And with the “Sustainability Award going to Felton Road, in New Zealand” (in the top 5 also Ornellaia), and the “Hall of Fame Award” given to British Master of Wine Jasper Morris (among the top five nominations also the Piedmontese producer Elio Altare).
Well, going back to the report for 64% of more than 1,200 respondents to the fine wines market survey, sentiment for 2025 is positive, while only 22% have negative sentiment, and 14% think things will remain along the same 2024 lines. Among the most interesting trends for 2025, 20% point to the growth in demand for fine wines worldwide, which will be driven by a return to stocking restaurants and wine bars, the general trend of drinking less, but looking at more fine wines, even within the home. “In particular, wine industry professionals anticipate increased interest in Italian fine wines, supported by an “overheated” Burgundy market, with market players perceiving high-end Barolo and Barbaresco as “the new Burgundy” when it comes to high-end fine wines”. But growing, according to another 20%, will also be knowledge of the world's fine wines, globally, accompanied by a growing interest in healthy living associated with psychological well-being, which goes hand in hand with tasting just a few glasses of wine, but of a great standard. This is without taking into account the growth of qualified sommeliers, wine educators, consultants and more generally the growing curiosity for knowledge training about wine, worldwide.
Nonetheless, according to 16%, an unfavorable geopolitical and macroeconomic environment will still have to be taken into account, which will lead to a widening gap in income, savings and consumption worldwide. Still, 16% of operators report an “unprecedented interest in fine wines created by a new generation of producers”, who are looking at craftsmanship, single vineyards, native grape varieties, fresher and less alcoholic wines, organic, natural, orange and generally produced with sustainable practices and great transparency about processes. Perhaps accompanied by important “story telling,” which Millennials especially like. But there is also an 11% pointing the spotlight on the growth of no and low-alcohol wines.
Another aspect that bodes well for the future of fine wines, according to 10% of respondents, lies in the growth of passion for wine among the world’s rich and ultra-rich, including as an investment, and also in emerging economies, while positive effects, for 5%, are also expected thanks to the growth of direct sales practices, digitalization and so on. There are also those who point out, as a trend to watch, the phenomenon of “Merger & Acquisitions”.
Looking at the territories with the greatest potential for growth by 2025, the region most indicated, by 20% of respondents, is Piedmont, even more so than Champagne (the most popular in the last 3 years), second with 17% of responses, and Burgundy (14%), but Tuscany (12%), California (9%), Australia (8%) and Bordeaux (7%) also rank well, with the remaining 13% divided among other areas of the world. Among the regions that are likely to lose the most, however, especially in terms of wine prices, leading the way is Bordeaux, with 27% of responses (which come after an “en primeur” campaign that has seen price drops of up to -40% on 2023, even by top names, ed.), ahead of Burgundy (19%), California (15%) and Australia (15%). Few predicted price declines for Champagne (9%), Tuscany (7%) and Piedmont (5%).