UK: Outlook for fine wine bullish

A recent report by Liquid Icons, formerly The Gérard Basset Global Fine Wine Report, indicates a positive outlook for the fine wine market, with 64% of respondents expressing optimism. The survey of over 1,200 international fine wine and rare spirit market players highlighted a global surge in demand for fine wines, driven by re-stockings, increased consumption, and higher spending by those with increased disposable income. Fine wine is viewed as a safe haven investment, with high and ultra high net worth individuals building private collections. However, Bordeaux is losing favor, with Burgundy, California, and Australia also facing risk perceptions. There's growing interest in Italian wines, especially Barolo and Barbaresco, with Piedmont noted as the region with the most potential. The market also sees a rise in younger millennial drinkers drawn to artisanal, single variety wines and environmentally friendly practices, although there are concerns about the impact of global geopolitical and macro-economic issues.