Global Fine Wine Industry Exudes Optimism for 2023

There's a war in Ukraine. Europe appears to be facing a winter of brutal cold, with Russia throttling down supplies of natural gas.  Inflation is raging.  And 90% of responses to a survey for Liquid Icons, a consultancy, exuded optimism about the global fine wine market.  Indeed, 30% of responses were "very positive" and 60% were "positive."

Respondents cited the overall strength of the fine wine market, rising demand around the world, increasing quality, growing levels of investment into fine wine, and an unprecedented level of interest in fine wines created by a new generation of wine wine makers using new practices.

France, Italy and the U.S. were the most optimistic countries.  But the regions with the greatest potential for downside included France, Australia, the U.S. and Italy.  

Respondents said the best red wines they tasted this year came from France (49.41%), Italy (16.56%) and the U.S. (10.71%).   The best sparkling wines came from France, the UK and Italy.