Luxury wines and spirits in trouble by 2025

Luxury wines and spirits in trouble by 2025

Wines and spirits in trouble in the luxury segment, but with exceptions and the possibility of a moderate recovery next year. That's according to the Altagamma Observatory 2025. Overall, the global luxury sector (which in addition to wines, spirits and food also includes major sectors such as motorcycles, travel, boating and design) amounts to 1,440 billion euros and is "in line with 2024," with declines between 3% and 1% year-on-year at current rates, with -1/+1% at constant rates. The personal luxury goods market shows a similar trend, with estimated annual sales of €358 billion (-2% at current exchange rates, but stable at constant exchange rates, just like the overall market).

The heat in wines and spirits

Looking at the different categories, we see a polarization between higher end segments on one side and more affordable price ranges on the other, according to the findings of two separate studies (Altagamma Consensus 2026 and Altagamma-Bain Worldwide Luxury Market Monitor 2025). Premium wines and spirits will show losses of 5% at current exchange rates and 2% at constant exchange rates in 2025 , with the exception of sparkling premium wines and Italian red wines.

The comeback of rosé wines

Italian red wines are improving in terms of exports, symbolizing self-centered luxury. Rosé wines are gaining market share in resorts, at the expense of white wines. And there is growing interest in smaller formats in the out-of-home segment," said the report, "so as not to undermine the quality aspects of the product.

Rapid expansion into no-low alcohol and ready-to-drink beverages

For ready-to-drink and no-low alcohol products, there is rapid expansion and success among younger consumers.

Gourmet restaurants and fine dining

In a growth trend that continues for all consumption occasions, as well as due to the fact that resorts have extended their seasons, new casual and fine dining are gaining market share among younger consumers. In food, the moderate growth expected for 2026," said Maurizio Zanella, vice president of Altagamma, "will be driven by the ultra-premium segment and a consumer attentive to authenticity and quality. In fine dining, the demand is evolving for contemporary formulas that combine gastronomic excellence with an experiential and entertainment dimension. Our gastronomic culture can count on a unique territorial heritage, and the top wines.