After two years of constant declines in the fine wine market, Champagne has finally indicated a small upturn, according to Winecap. 

In its 2025 fine wine report, Winecap said that Champagne experienced its first month-on-month gain in a year in June. 

This followed a period in which most leading Champagne brands, such as Dom Pérignon, Cristal, Salon, Krug and Taittinger, had been flatlining for six months. 

According to data provided by Liv-ex, the shift in June represents early signs of recovery for a previously ailing category. 

Elsewhere in the Winecap report, the company said that the Rhône also saw increased demand in 2025. 

Likewise, the Italian fine wine market also saw an upturn, with Tuscany gaining traction as investors looked to Brunello, Sassicaia, Ornellaia and Masseto. 

Outside of Europe, California grew in global demand, led by strong branding and interest in labels such as Opus One and Screaming Eagle. 

Winecap said that the fine wine market more generally continued to stabilise in Q3 as global economic sentiment improved. 

It continued that this signals a market that is poised for gradual recovery, offering an attractive entry point for medium- to long-term investors. 

At the same time, some areas continued to struggle. Interest in En Primeur wines from Bordeaux was subdued this year, triggering 20–30% price cuts from the leading French wine region. 

More broadly, Winecap said that Trump tariffs continued to bring uncertainty to the fine wine market. 

This was especially true earlier in the year, when Trump’s threat of 200% tariffs dampened market activity. Stability did, however, begin to return, with increased demand emerging in July 2025.