White and Sparkling Wines Are Redrawing the Map of Wine Investment

For decades, the fine wine market was dominated almost exclusively by the great red wines of iconic regions such as Bordeaux, Burgundy and Piedmont. However, the latest data from the international secondary market indicate that the traditional balance is changing. Today, white wines and, above all, sparkling wines are gaining prominence not only among consumers but also among collectors, investors and specialised market operators.

According to figures published by Liv-ex—the world’s leading marketplace for the trading and analysis of fine wines—the value of transactions involving white wines has increased by 650% since 2010, while sparkling wines have recorded an extraordinary rise of 1,100%. By contrast, the red wine market has remained largely stagnant and, in relative terms, currently stands around 15% below the levels recorded fifteen years ago.

Although these percentages should be interpreted in light of the fact that white and sparkling wines started from a much smaller base than red wines, the trend reflects a profound transformation that appears to extend far beyond a passing fashion.

From Red Wine Dominance to a More Diversified Market

For much of the twentieth century and the early years of the twenty-first, the world’s great red wines were regarded as the ultimate benchmark for wine investment. Labels from Bordeaux, Burgundy, Tuscany and Napa Valley accounted for the majority of value traded within specialised wine markets.

However, the shifts in consumer behaviour already visible in the broader wine sector are now reaching the world of collectible wines. Consumers are showing a growing preference for fresher, lighter and more versatile wine styles, driving increased demand for white wines and sparkling categories.

This evolution is clearly reflected in the Liv-ex indices. While red wines have followed a relatively flat trajectory over the past fifteen years, white and sparkling wines have experienced sustained growth, with a particularly strong acceleration between 2020 and 2022.

The Remarkable Rise of Sparkling Wines

The category that has most surprised market analysts is undoubtedly sparkling wine. According to Liv-ex, the commercial value index for this segment reached almost 1,900 points in 2022, using 2010 as a base value of 100. Although a market correction followed, the index still stood at approximately 1,100 points in 2025, far above its original level.

Much of this phenomenon can be attributed to the growing international prestige of Champagne, which continues to establish itself as one of the most resilient assets within the fine wine investment universe. This has been reinforced by the global expansion of premium sparkling wines, driven by increasing consumption linked to celebrations, gastronomy and experience-oriented lifestyles.

The growing interest in sparkling wines is also evident beyond investment markets. Several international studies forecast continued expansion of the global sparkling wine sector over the coming decade, supported by premiumisation trends and rising demand for products associated with social occasions and leisure activities.

White Wines Consolidate Their New Position

If sparkling wines represent the most striking development, white wines arguably constitute the most significant structural change.

After years of relative stability, white wines experienced substantial growth between 2020 and 2022, with indices approaching 1,000 points. Although they subsequently underwent a moderate correction, they remained close to 800 points in 2025, demonstrating greater resilience than many other categories during the recent market slowdown.

This performance confirms that great white wines no longer occupy a secondary position within the fine wine landscape. On the contrary, they have become an increasingly sought-after category among both consumers and specialist investors.

Burgundy Leads the Revolution

Much of this transformation has a clear protagonist: Burgundy.

According to Liv-ex analysis, Burgundy has established itself as the world’s leading region for white wines within the secondary market. This growth is driven by a combination of factors, including rising trading volumes of relatively accessible labels, strong international demand and notable price stability among the most prestigious wines.

The situation contrasts sharply with developments in Bordeaux. White Bordeaux wines have seen the value of their market exchanges decline by 17.6% since 2011, reflecting a loss of prominence compared with regions perceived as more dynamic and attractive to international buyers.

Burgundy’s success also illustrates a broader trend: investors are increasingly seeking regions capable of offering scarcity, a strong sense of place and robust global demand—factors that are essential for preserving value over the long term.

An Increasingly Selective Market

The data suggest that the fine wine market is entering a new phase. Success is no longer determined solely by investing in the most famous historical names; it increasingly depends on identifying categories and regions capable of responding to evolving global consumer preferences.

Over the past fifteen years, sparkling wines and white wines have demonstrated growth rates far exceeding those of red wines. At the same time, the availability of increasingly precise and transparent market information enables collectors and investors to make decisions based on objective data rather than relying exclusively on established reputations.

In this context, diversification is becoming ever more important. Champagne, the great white wines of Burgundy and other emerging segments are broadening the range of opportunities available within a market that traditionally revolved around a relatively small number of regions and styles.

Fine Wine Investment Enters a New Era

The picture painted by the Liv-ex data points to a genuine shift in the fine wine landscape. Red wines remain fundamental to the global premium wine market, but they are no longer the sole protagonists.

The remarkable growth of sparkling wines and the strengthening position of great white wines reflect a structural transformation driven by changing consumption patterns, generational shifts and a more diversified approach to wine investment.

For producers, distributors and investors alike, the message is clear: the future of fine wine will be more diverse, more dynamic and considerably less dependent on the traditional models that dominated the market for much of the past fifty years.