The fine wine market by region in 2021

  • Bordeaux’s trade share is the highest in Europe and the lowest in the US year-to-date.
  • Burgundy’s trade share is the highest in Asia and the lowest in Europe.
  • Italy, California, the Rhône and Champagne have benefited from US buying.

Liv-ex, the global marketplace for the wine trade, currently has over 530 members across 43 countries. The buying patterns of these merchant members differ depending on their location, which in turn influences the total make-up of the secondary fine wine market.

The following post takes a deeper look at each major buying region to establish which wines dominate in each region.

Bordeaux and Burgundy take equal share in the UK market

The UK, which remains the biggest player on the secondary market for fine wine, has been subject to the greatest diversification. Over 6,420 different wines (measured as LWIN11s) have been bought by UK wine merchants so far this year.

The UK market has shown an equal fondness of Burgundy and Bordeaux in 2021, based on the total value of wine traded. Burgundy has taken 29.3% of the total trade share versus 29.8% for Bordeaux. But this has not always been the case. Just five years ago, Bordeaux accounted for 69.2% of trade by value, while Burgundy stood at 9.8%.

Champagne has been the third most traded region by value at 9.4%. Demand for Tuscany (8.6%) has outweighted that for Piedmont (4.8%) in the UK.

The ‘others’ which have taken a 5.8% share in 2021 have been led by Spain (0.9%), the UK itself (0.6%), Australia (0.5%), and Germany (0.4%).

Italy, California and Champagne dominate in the US

Compared with other markets, the US has placed much stronger emphasis on Italy (24.3%), California (11.1%), Champagne (9.5%) and the Rhône (8.1%). Indeed, these regions have achieved their highest share of the trade in the US, which has also been the second biggest buying region overall.

Bordeaux and Burgundy, meanwhile, have accounted for less than half of the total trade by value in the US. The two region’s combined trade this year has been just 41.9%.

Burgundy’s trade share is highest in Asia

Asia, which has traditionally focused on Bordeaux, has been increasingly buying Burgundy. The region has achieved a record 30.3% of trade by value in Asia so far this year, a level higher than in other markets.

As in the UK, Champagne has been the third most traded region. But the presence of Italian fine wines has been less pronounced than elsewhere. Piedmont in particular has only taken 1.8% of trade by value.

Californian wines have been gaining ground, with the region’s trade share rising from 1.6% in 2016 to 5.2% in Asia so far this year.

The smaller countries that Asia has been after include Australia (0.9%), Spain (0.9%) and Chile (0.4%).

Bordeaux still reigns in Europe

European buying patters have been more traditional and the market has been broadening at a slower pace.

Bordeaux still has unchallenged supremacy at 72.1% of the total trade by value, compared to 9.5% for Burgundy. At 5.9%, Tuscany is the third most traded region, thanks to strong demand for the Super Tuscans.

Piedmont, California and the Rhône, which are clear US favourites, have accounted for less than 2% of trade each in Europe.

Which have been the most searched for wines across these main buying regions? Find out here.

 

Liv-ex analysis is drawn from the world’s most comprehensive database of fine wine prices. The data reflects the real time activity of Liv-ex’s 530+ merchant members from across the globe. Together they represent the largest pool of liquidity in the world – currently £80m of bids and offers across 16,000 wines. Independent data, direct from the market.  

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