Winecap: High demand growth expected for fine wine

By Hamish Graham

Published: 02 April, 2025

The wine investment firm Winecap in its UK Wealth Report 2025 has revealed that 96% of British wealth managers expect demand for fine wine to grow in 2025, more than any other luxury asset.

This figure outperformed the likes of art (94%), watches (90%) and jewellery (72%), amongst the UK wealth managers surveyed. This expected demand growth figure has also grown since last year, when it stood at 92%. According to Winecap, fine wine stands out for a number of reasons when it comes to investment, including the well-documented performance history of wines relative to other speculative assets. Additionally, established auction houses, secondary markets, as well as digital platforms offer investors more transparency when it comes to wine investment.

Fine wine’s exemption from UK Capital Gains Tax (CGT) due to its classification as a ‘wasting agent’, has led to 92% of investors surveyed by Winecap to conclude fine wine investment will rise as a result of these tax changes. Diving deeper into this figure, 80% believe it will ‘increase somewhat’, while 12% believe it will ‘increase significantly’.

Read more: Bolivian winery amongst winners at Old Vine Hero Awards 2025

Of the wine invested by wealth managers, 26% now exist in high-risk investment portfolio as of 2025. This figure has more than doubled since 2024.

Another intriguing revelation from the report is that amongst investors, 6% are looking to add fine wine to retirement portfolios. Although this figure may seem small, it is a stark rise since 2024 when this figure stood flat at 0%.

Winecap concludes its report by detailing what it believes to be a ‘generational shift’ to be underway when it comes to wine investment. Younger investors are leveraging technology and data to refine their investment strategies. This shift has reinforced fine wine’s role as a financial asset while simultaneously being a passion investment.

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