Fine wine market grows 234% in 10 years
on 17/06/15 at 9:46 amWine
Commissioned by Cult Wines, a specialist in the acquisition, management and valuation of rare wines, the report by Intelligent Partnership also predicted a shortfall in production as demand for fine wine increases from wealthy buyers, particularly from China and India.
Citing research from Morgan Stanley the report places current global demand at around 3 billion cases, compared to total production of around 2.8 billion.
The report said that in the past 10 years fine wine experienced 234% growth from Q4 2004 to Q4 2014, according to Knight Frank’s Luxury Investment Index.
Guy Tolhurst, managing director of Intelligent Partnership, said: “Wine collecting has been a hobby for hundreds, if not thousands of years, but more recently fine wine has been recognised as a genuine alternative asset class, providing significant diversification benefits from mainstream financial markets.”