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Fine wine market to “experience boost in growth”

Fine wine market to “experience boost in growth”

Positive times lie ahead for the fine wine market as the industry is set to experience significant growth over the coming years.

Premier Cru Fine Wine Investments expects the market to grow 22 per cent by Christmas 2014, marking a major improvement on the 15 per cent increase that has been recorded since November 2012. There is a predicted ten per cent rise due to happen from December 2013 making it a great time for people to invest in the drink. The wine broker believes that the market is on another high following similar situations in 1998 and January 2009.

Stacey Golding, co-founder of Premier Cru, said: "Although we continue to see the prices of our most desired investment wines rise, there is a considerable opportunity for investors to profit in an ideal medium to longer-term period and the sooner investors act, the more they can benefit from the turnaround."

Experts at the organisation have been tipping the Chateau Pontet Canet and Chateau Lafite Rothschild as "ones to watch" in the coming years. They believe that wines such as these could have a big say in the way the market progresses. One of the driving forces behind the positive figures has been a boost in industry confidence.

This has been helped by large wine merchants holding more stock and the fact that investors are now becoming more willing to replenish stock on a regular basis. Demand has also been on the rise in China which is quickly becoming a major player within the fine wine market.

In an interview with the Guardian, Adam Lechmere, news editor at Decanter.com, explained how the Chinese are not just importing fine wine from countries like France and Spain but are now purchasing whole vineyards.

"It's a perfectly logical thing for the Chinese to do. They value provenance above everything else. A common scenario sees them buy up the vineyard and take over everything from production to sales," he told the news provider.

 

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