Journal du Luxe

As consumer habits evolve and markets transform, fine wines are reaffirming their central role in the luxury industry. In a first report on the subject, research firm Bain & Company, in collaboration with Altagamma, highlights the appeal and challenges of this historic sector.

A core market and new territories
According to the first edition of the Fine Wines and Restaurants Market Monitor published at the Vinitaly trade fair, the global fine wine market will be worth 30 billion euros in 2024.

Although these premium vintages represented only 1.5% of global wine sales volume last year, they nevertheless concentrated 11% of their value in a market dominated by the West: 75% of fine wine production comes from Europe, which, along with the Americas, accounts for 80% of consumption. This does not prevent the emergence of new dynamics: Asia-Pacific, hampered by trade tensions with China, is redirecting its growth towards Japan and Southeast Asia. In the Middle East, demand is growing thanks to tourism and the expatriate population.