Category: Wine Economics

The Wine Market Journal Announces the Top Appreciating Wines of 2024

The Wine Market Journal, the world’s top resource for rare wine valuation, has released its list of the top appreciating wines for 2024.

“2024 was a challenging year for much of the alcohol industry, but high-end wines provided a bright spot, as they generally do, with good strength.  The Wine Market Journal has been tracking the values of wines at the world’s auction houses since 1997 and this year we decided to release our list of the top appreciating wines,” says David A. Parker, Publisher and Owner of The Wine Market Journal.  “With wine collecting proving to be one of the most popular hobbies in the country and a large portion of high-net-worth families listing a wine collection as a part of their investment portfolio, we thought this very eventful year would be ideal to start our Top 10 list of appreciating wines. Looking at these provides a glimpse into the fascination and the potential return the hobby brings.”

“Putting this list together took substantial thought and analysis”, said Peter Gibson, Editor and head data analyst of The Wine Market Journal.  “Since rare wines trade less frequently than stocks, we had to first be sure there were enough trades in both 2023 and 2024 to get consistent averages.  For wines less than 25 years old, we made sure a wine had at least 6 trades in each of 2023 and 2024 and an average price of at least $50.  For those more than 25 years old, we only looked at wines that had at least four trades each in 2023 and 2024 and an average value of at least $75.  All of our top 10 wines appreciated at more than twice the rate of the stock market this year. Here are the winners.”

Number 10

Vietti Barolo Ravera 2013.  Average auction hammer in 2023: $177, in 2024: $295.  Average appreciation: 67%.  Scored a perfect 100 points by Vinous magazine, this wine demonstrates the overall demand that Italian wine has enjoyed in the US this year.  Italian wines were the best-appreciating market segment tracked by The Wine Market Journal’s exclusive regional indices. As with the Chave Blanc above and as the youngest red wine on the top 10 list, this also has plenty of time to develop further and appreciate in value.

Number 9

Cos d’Estournel 1978.  Average auction hammer in 2023: $81, in 2024: $136.  Average appreciation: 69%.  This may seem a puzzle as 1978 was not initially heralded as a great vintage in Bordeaux and this wine has “only” garnered scores in the 93–94-point range.  However, as the sole Bordeaux on our Top 10 list, it demonstrates the popularity of second-growth Bordeaux, which performed better as a class than the more highly celebrated First Growths, according to The Wine Market Journal’s market indices.  1978 is also receiving more recognition as a soft but complex vintage, demonstrating the trend of collectors enjoying lighter, lower-alcohol reds. And, even at its appreciated price, it is still a relative bargain among highly recognized reds.  Finally, it is participating in a resurgence in popularity of wines from the 70’s.  Indeed 6 of the wines on our top 10 list are from that decade.

Number 8

Rayas Chateauneuf du Pape Reserve 1979.  Average auction hammer in 2023: $1247, in 2024: $2125.  Average appreciation: 71%.  This is the most highly valued wine on our top 10 list, due to its rarity and acclaim.  With the bare minimum four trades each in 2023 and 2024 to be considered for inclusion, and a reputation as consistently one of the greatest wines from Châteauneuf-du-Pape, this can fairly be called a “unicorn”:  legendary but very rarely seen. Again, part of the trend of drinking lighter, more complex reds with lower alcohol, this and other imported wines may also be appreciating due to the perceived potential for tariffs to go into place for wine originating outside the U.S.

Number 7

Clos du Val Cabernet Sauvignon 1974.  Average auction hammer in 2023: $150, in 2024: $256.  Average appreciation: 71%.  The first of three 1974 Napa Cabernets on our top 10 list, this is a classic from that acclaimed vintage.  While the Heitz Martha’s Vineyard 1974 may be the single most famous California wine ever made, this longstanding producer has always had a reputation for great wines and clearly made one in this, the Golden State’s best vintage of the. The fact that this is a 50-year-old wine also likely figures into the increased popularity as it certainly was part of gifting and pouring decisions for those with major reasons to celebrate in 2024.

Number 6

Beaulieu Vineyards Cabernet Sauvignon Georges de Latour Private Reserve 1974.  Average auction hammer in 2023: $158, in 2024: $277.  Average appreciation: 75%.  This classic California Cabernet from BV also benefited from the renewed desire to drink older, lighter wines – and the celebration of the great 1974 vintage in its 50th year.  The fact that about four times as many auction trades occurred in 2023 and 2024 for this wine as for the Clos du Val, and appreciation was slightly higher, this seemingly became “the wine to drink” at 50th birthday parties and anniversaries during the year.

Number 5

Faiveley Corton Clos des Cortons 1996. Average auction hammer in 2023: $120, in 2024: $222.  Average appreciation: 85%.  The sole Burgundy to make the Top 10 list demonstrates that wines from this region, which had been the fastest appreciating category for more than a decade but suffered a correction since spring of 2022, are coming back. A relative bargain for a Grand Cru red Burgundy with appreciable bottle age, this wine may be getting snatched up in preparation for celebrations in 2026, in anticipation of possible tariffs, or just because it’s hitting its peak of consumability right now,

Number 4

Chapoutier Ermitage Le Pavillon 1990. Average auction hammer in 2023: $287, in 2024: $546.  Average appreciation: 90%.  Receiving 100 points from Wine Advocate qualifies this as “perfect” to many people, and this Syrah-dominant wine from the northern Rhone by one of the most famed producers reconfirms interest the Northern Rhône category was strong in 2024.  Here again, we are seeing ready–to–drink wines from the best producers drawing the greatest increase in attention from collectors.  To paraphrase a noted wine personality: “I don’t have the time to age wine for 35 more years, but I can buy those years.”  Increased interest in this wine may also be heightened by the upcoming 35th anniversary in 2025 and the potential for tariffs for wine coming in from outside the US.

Number 3

Sterling Vineyards Cabernet Sauvignon Reserve Napa Valley 1974. Average auction hammer in 2023: $157, in 2024: $302.  Average appreciation: 92%. The third classic Napa Cabernet from the acclaimed 1974 vintage to make our list, this was the rarest, with only 4 trades at auction in 2024.  Here again, we are seeing the perfect confluence of factors for appreciation: a classic producer, a classic vintage, the resurgence of interest in the time period, and an anniversary year.  A savvy investment indeed.

Number 2

Inglenook Cabernet Sauvignon Limited Cask 1978. Average auction hammer in 2023: $92, in 2024: $183.  Average appreciation: 99%.  Surprisingly, the fastest-appreciating California Cabernet for 2024 is not from the hallowed 1974 vintage and won’t be an anniversary wine for three years, but unsurprisingly, it is from a legendary producer and the newly rediscovered 70’s. One of the “big 4 producers” of the era, this is further confirmation that reasonably priced, perfectly-aged California Cabernets are gaining increased attention by investors and connoisseurs alike.

Number 1

Sandeman Vintage Port 1963.  Average auction hammer in 2023: $88, in 2024: $184.  Average appreciation: 108%.  Appreciating almost as much as BitCoin during this period, is this classic fortified wine from Portugal.  Long the “sleeper” in terms of appreciation, Vintage Ports have received renewed interest and have often been the fastest appreciating category tracked by The Wine Market Journal’s market indices.  Top Vintage Ports are garnering more recognition by top bars and restaurants as wines that last after opening and short pours have become popular. While the 1963 vintage is a classic and Ports are known to age effortlessly for the better part of a century, Sandeman is regarded as a mid-tier producer, so perhaps this appreciation can be best equated to the Cos d’Estournel, with second-tier, reasonably priced wines garnering the strongest appreciation in this market.

There were some trends in 2024 with anniversary wines, and Napa Cabs from the 70’s being notably strong.  And 100-point wines are popular for collectors.  But the joy of collecting wine goes beyond the profit motive, to the unique social and artistic aspects of the product. A top collector states:  “Some wines go up in value. Some go down my throat.  They both bring pleasure.”

Alto Adige Wines Announces a New UGA Classification

Nestled in Italy’s northeastern corner, Alto Adige, one of the country’s most compact yet pioneering viticultural areas, is advancing its esteemed Alto Adige DOC designation with a significant new addition. The Consorzio Alto Adige Wines has recently announced that, starting with the 2024 vintage, 86 well-defined and meticulously documented vineyard areas have been granted special legal status as Additional Geographical Units (in Italian “Unità Geografiche Aggiuntive” or UGA).

“Our goal is to capture the unique character of each vineyard in every bottle,” said Martin Foradori, Vice President of the Consorzio Alto Adige Wines and owner of the J. Hofstätter estate. “Terroir” should not be just a marketing term—it should be something you can truly taste in each glass of wine.”

Defined by rigorous criteria, each UGA reflects an ideal alignment of soil type, microclimate, altitude, slope inclination, sun exposure, rainfall, and more. While forward-thinking was essential to this process, tradition also played a significant role, as many of the selected vineyard sites hold historical importance. A land register dating back to the mid-18th century provided access to valuable historic land names, testifying the region’s rich viticultural heritage. Additionally, within each UGA, permissible yields have been further reduced by 25% compared to DOC regulations, ensuring optimal grape quality and exceptional wines.

The ideal grape varieties for vineyards within each UGA have also been carefully defined. Eduard Bernhart, Director of the Consorzio Alto Adige Wines, explained: “Wines that qualify for a UGA designation must be made exclusively with grapes from that specific site. Depending on the vineyard’s location within a UGA, up to five varieties may be permitted, while some UGAs restrict production to just one or two varieties.”

As of the 2024 vintage, the geographical designation—such as Gries, Mazon, or Eppan Berg, to name just a few of the 86 recognized UGAs—may be listed on wine labels alongside “Alto Adige DOC.”

Producers wishing to use a UGA name on their label are required to include a pictograph specially designed by the Consorzio. Alto Adige Wines This will allow consumers to clearly recognize these special wines, as the pictograph must appear on both the front and back labels.

“Much like other renowned wine regions, we believe this initiative will set new benchmarks for exceptional and distinctive Alto Adige wines,” commented Andreas Kofler, President of the Consorzio Alto Adige Wines and of Cantina Kurtatsch. “These UGAs establish Alto Adige as a leader in the highest quality, terroir-driven winemaking.”

The creation of UGAs marks the culmination of years of research, collaboration, and vision led by the Consorzio Alto Adige Wines. Contributions from agronomists, enologists, growers, and producers helped shape the new classification, blending innovation with a deep respect for tradition.

Wine Business Monthly’s Wine Industry Leaders of 2024

Wine Business Monthly’s 2024 Wine Industry Leaders list was just announced! It serves as a valuable guide to the visionaries shaping the current and future landscape of the wine industry. Recognizing those who drive innovation, sustainability, and economic resilience, this annual compilation includes leaders who stand out in their commitment to advancing the wine sector through strategic foresight and adaptability in the face of evolving market demands. The 2024 selection reflects a cross-section of influential figures, from pioneering winemakers and business executives to sustainability advocates and digital strategists, each making significant contributions to both the trade and broader cultural appreciation of wine.

By highlighting these individuals, Wine Business Monthly not only celebrates success but also inspires continuous growth and evolution across the industry.

Here is the full list: https://www.winebusiness.com/wbm/article/293943

Source: Wine Business Monthly

New Leadership to Foster Growth and Recognition for Vins du Centre-Loire

The Bureau Interprofessionnel des Vins du Centre-Loire (BIVC) has ushered in a new chapter with the appointment of François Bouteille as its Director, succeeding Edouard Mognetti. With a strong background in vine and wine law, a degree in business law, and intellectual property from Bordeaux University, Bouteille brings extensive expertise to the role. His wine industry journey began with the Champagne Trade Association, followed by a consulting firm in Australia that specialized in appellation protection. Most recently, Bouteille held the directorship at the Vouvray Syndicate, where he worked closely with regional winegrowers to elevate their profiles on both local and global stages.

Bouteille is determined to champion the values of independent winegrowers while promoting the diverse terroirs and appellations of Centre-Loire wines. His strategic vision focuses on enhancing the region’s economic research initiatives to identify new markets and diversify its offerings.

“I am convinced that the vineyards of Centre-Loire are poised for greater recognition. The immense potential of our wines resonates with enthusiasts across all generations, both in France and internationally,” Bouteille said.

He emphasized that the BIVC’s technical and promotional strategies will continue to support the sustainable growth of the region’s eight appellations and two IGPs. The appeal of single grape variety wines offers an approachable entry point for consumers, fostering a deeper exploration of the region’s unique mosaic of terroirs.

Source: (BIVC)

Five Food and Drink Trends for 2025 from Bidfood +CGA by NIQ

Bidfood, a leading foodservice provider in the UK, has published its forecast of key food and beverage trends for the out-of-home market in 2025. CGA by NIQ, a research firm, served as Bidfood’s strategic research partner for this annual trend report.

As well as value, quality and elevated experiences, this year’s trends are influenced by consumers’ desires to make healthier and sustainable choices, as well as emotional drivers such as comfort, tradition, reward and sharing.

The 2025 Food and Drink Trends Report from Bidfood offers critical insights into key developments shaping the foodservice industry. The following five trends are particularly noteworthy:

1. Flavours less travelled

Trying new and unique cuisines are top of consumer’s priorities and a key factor influencing this year’s report, with 55% frequently looking to explore these new and exciting flavours when eating out. The flavours less travelled trend encourages consumers to embrace their sense of adventure with authentic ingredients, flavours and formats, while experiencing and learning about the cultures they come from.  Research has shown that the global cuisines gaining momentum this year are:

Southern States - Southern USA cuisine refers to the comfort food from the Deep-South including Louisiana, Mississippi and Florida and has seen a rise in popularity with consumers who consider themselves as ‘foodies’. Offering diversity, the cuisine can be adapted to suit lunch or dinner, as well as on the go. Hearty and comforting, this is trend full of potential with a real gap in the market ready to be filled.

Turkish – Turkish cuisine is growing in popularity right now, appealing to a whopping 79% of consumers. Offering bold and aromatic flavours, warming spices and meze sharing dishes, the Turkish food has far more to offer than just kebabs that most associate it with.  

Greek – Characterised by its simplicity, Greek food is renowned for its use of fresh and seasonal ingredients. A great fit with both street food, on the go as well as sit down venues, Greek cuisine boasts familiar favourites such as quality grilled meats, fresh feta salads and creamy dips such as hummus and tzatziki, alongside many lesser-known dishes like courgette balls that offer opportunities for operators. 

Argentinian – With more cattle than people, Argentinian cuisine is characterised by its hearty flavours, rooted in locally-grown and sourced produce. Argentinian cuisine is certainly growing in popularity, with more than half of consumers wanting to try it. Classics dishes include steak, chimichurri, empanadas and dulche de leche, along with a rich reputation for wine.

Portuguese – Despite being an already familiar cuisine to 1 in 5 consumers, Portugal still has a wealth of authentic dishes waiting to be discovered. Although piri piri chicken and Portuguese tarts will always be popular, operators should look towards one-pot rice dishes (called arroz), rice pudding (known as arroz doce), and mixed seafood stew (known as cataplana de marisco), to really nail authenticity.

Swiss: The ultimate comfort food, Swiss dishes featuring cheese, potatoes, cream and meats are at the very heart of this cuisine. Popular with consumers but often hard to come by, Swiss cuisine includes sharing options such as fondue, breakfast dishes like rosti and bircher museli and of course, cheese.   

2. Closer to home

As consumers continue find provenance on menus appealing, many seem to be drawn to learn more about those cuisines that are on our doorstep, but which offer something different to the traditional English classic dishes that are familiar. Nearly half (43%) of consumers are interested in trying Scottish, Welsh and Irish cuisine, due to its traditional flavours, comforting nature and their desire to support British suppliers. Take consumers on a journey across the British Isles with a warm and hearty Irish stew, rich and flaky Scottish salmon and tender Welsh Lamb. However, a number of lesser known dishes such as stovies, oggies and coddle also draw appeal.

3. Buns and Bowls

In today’s fast-paced world, consumers are busier than ever. It’s therefore no surprise that on-the-go options have become a staple for individuals seeking convenience without sacrificing quality. Whilst over 40% of consumers already eat staples such as wraps and cakes when out of home, the demand to try the lesser eaten options like poke, Buddha, and acai bowls as well as chia pots is increasing in popularity. This is coupled with a desire for next level hot and cold premium sandwiches, packed with innovative quality fillings.

4. Friendly Fibre

Healthy eating is increasingly front of mind for consumers, in particular the awareness and understanding of gut health. Bidfood’s friendly fibre trend explores how this important nutrient helps keep our digestive system healthy, which foods are rich in fibre and how operators can include a variety of tasty dishes on their menus that debunk the myth of high fibre foods not tasting good.

5. Proactive Practices

Consumers are still highly conscious of the environmental impact within their own lifestyles. This is evident when they make choices in the out of home sector, with 7 in 10 saying that sustainability is an important factor when deciding which out of home venue to visit. Not only will consumers be more likely to visit, but they will also pay more if they can see that their food and drink comes from sustainable sources, making it important for operators to demonstrate the great work they do around ESG. Some of the areas that consumers are most interested to see operators engage with are:

Food waste
Carbon reduction
Seasonality
Certifications
Regenerative farming
Sustainable seafood

“It’s great to see that this year’s trends are shaped by consumers eagerness to experiment and try something new, along with their desire for indulgence, premiumisation and comfort. This will allow chefs to showcase their creative skills, while providing operators the opportunity to increase margin.

Encouraging sustainable practices remains incredibly important for us as a business, and so it is reassuring to see this reflected within the trends this year. Similarly, gut health is also emerging as a key area of interest to consumers in 2025, something we feel well equipped for with our expert nutrition team on hand to support with implementing this trend.” – Catherine Hinchcliff, Head of Corporate Marketing and Insights at Bidfood

For further details: https://www.bidfood.co.uk/food-and-drink-trends-2025/

Sources: CGA Strategy, Bidfood, CGA by NIQ