Fine wines could see another healthy year.
According to Fortune Business, the global wine market was worth $339.53 billion in 2020. It’s expected to grow to $456.76 billion by 2029. Also, according to the CAIA Association, “Our outlook from a year ago noted fine wine’s greater growth potential in 2021, and the market did not disappoint. The Liv-ex 1000 index, the widest measure of the market, gained 19.08% in 2021. We think fine wine holds plenty more performance potential as we head into 2022. Historically, fine wine’s growth periods have lasted much longer than the current rally.”
That could be beneficial for top wine companies, such as Gaucho Group Holdings Inc. (NASDAQ: VINO), LVMH Moet Hennessy Louis Vuitton (OTC: LVMUY), Vintage Wine Estates (NASDAQ: VWE), Constellation Brands (NYSE: STZ), and Brown-Forman Corp. (NYSE: BFB).