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Fine wine market and restaurants hit €58 billion in 2024, reinforcing their role as a pillar of global luxury

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New Bain & Company and Altagamma report highlights fine wine’s prestige and investment appeal and the rebound of fine dining industry, amid shifting consumer trends and market evolution

MILAN, April 7, 2025 /PRNewswire/ — The fine wine market continues to play a vital role in the global luxury industry, reaching an estimated value of €30 billion in 2024. Sitting at the crossroads of at-home wine consumption and out-of-home dining, this category remains an essential component of the €1.48 trillion luxury market despite its small size, catering the interest of a wide array of consumers. The fine dining industry is rebounding fast, with 27% growth from 2022 to 2024, reaching a projected €28 billion market. Europe leads the sector, housing over half of the world’s 14,000 high-end venues.

These insights come from the first-ever Fine Wines and Restaurants Market Monitor report by Bain & Company, in collaboration with Altagamma, unveiled at Vinitaly—one of the world’s leading wine and spirits exhibitions.

Despite accounting for just 1.5% of the total wine market by volume, fine wines command 11% of its total value, underscoring their premium pricing compared to mass-market wines. While their market share is smaller than other luxury sectors such as fashion (20-25%) and beauty (15-20%), fine wines maintain a strong presence in the high-end market.

After a decade of steady growth, the sector saw a slight decline of 2-3% in 2024—the first downturn outside of the COVID-19 period—driven by cautious consumer spending, mostly led by inflationary pressures driving downtrading to less premium segments and increasing trends toward alcohol moderation by newer generations.

“Fine wines stand at the crossroads of luxury, celebration, and investment,” said Claudia D’Arpizio, Bain & Company partner and leader of the firm’s global Fashion & Luxury practice, and the lead author of the study. “They serve as an essential part of daily indulgence for high-net-worth individuals, a cherished component of celebrations of their special moments for large consumer cohorts, and a prized investment for collectors. Whether enjoyed as part of a daily routine, a special occasion, or a curated collection, fine wines transcend just the consumption act, embodying prestige, passion, joy, conviviality, and a deep appreciation for quality.”

A legacy-driven, fragmented, and Western-dominated market

The fine wine industry is a unique mix of large-scale leaders and small-scale hyper-fragmented producers. The top 10 brands hold 35% of market share—comparable to luxury goods (39%) and high-end design (29%)—yet showing even greater fragmentation on the long tail, with over 400 players contributing to its structure. The market spans three key segments: Collector (€1-2B), Connoisseur (€8-9B), and Cult (€19-20B), each with evolving competitive dynamics, and distinctive route-to-markets.

Despite its legacy, fine wine remains predominantly Western-centric. In 2023, Europe produced 75% of fine wines, while the Americas and Europe consumed 80%. The Asia Pacific (APAC) and the Middle East and Africa (MEA) account for just 5% of production and 20% of demand, though these regions are showing increasing growth potential. The market is projected to reach €30B by 2024, with Europe maintaining the lead.

While deep-rooted wine culture drives stable consumption in France and Italy, shifting consumer habits pose challenges. The Americas remain strong but are sensitive to economic fluctuations. APAC, once fueled by China’s demand, faces trade barriers yet finds new opportunities in Japan and Southeast Asia. MEA sees rising demand through tourism and a growing expat population. As global preferences evolve, emerging markets in the East are unlocking new potential. While Western consumption remains dominant, regulatory shifts and changing tastes in Asia and the Middle East signal a new era for fine wine.

Premiumization

Fine wine consumption has undergone significant premiumization over the past decade, driven by a shift toward quality over quantity. This “drink better” movement has been particularly strong post-pandemic, reinforcing fine wines as a stable asset. Despite economic fluctuations, consumer demand for high-quality drinking experiences has remained resilient, positioning fine wines as a stable asset. This long-term trend of ‘drinking better’ rather than ‘drinking more’ highlights the ongoing evolution of the wine industry, with fine wines showing notable recovery and growth in the post-pandemic era.

The rise of “NoLo” beverages among younger generations

Younger generations, especially Gen Z, are increasingly embracing the “NoLo” (No and Low Alcohol) trend, signaling the rise of “young” sober curiosity, evolving preferences and potential market adaptations in the years ahead – with brands that will need to address them with new value propositions that will cater the consumption habits of newer consumers.

Fine dining reinvented: the rise of experiential luxury

The fine dining industry is rebounding fast, with 27% growth from 2022 to 2024, reaching a projected €28 billion market. Europe leads the sector, housing over half of the world’s 14,000 high-end venues. While traditional fine dining still dominates (98% of venues), immersive experiences—blending food, entertainment, and social engagement—are on the rise, set to capture 15-20% of the market in 2024. Fine wines remain integral, with wine pairings accounting for up to 40% of starred restaurant revenues in some cases, contributing with an estimated overall value of €6-7 billion in 2024. More than 50% of the wine consumed outside the home is sparkling (whether Champagne or other varieties) – largely associated with celebratory occasions, but also increasingly integrated into wine tourism experiences. After the pandemic, customers are seeking authenticity, shared experiences, and emotional engagement, transforming restaurants into cultural and social hubs.

Investment potential and market resilience

Fine wines are increasingly recognized as an asset class, benefiting from limited supply and strong demand. With a more than twofold price appreciation over the past decade, fine wines have outperformed other luxury assets, including handbags, jewelry, and watches. The sector remains resilient against economic downturns, further enhancing its investment appeal. In the last five years, fine wine indexes, such as Liv-Ex Champagne-50 and Liv-Ex Italy-100, have grown by 34% and 20%, respectively, reinforcing their status as a long-term investment.

New challenges: consolidation and climate change reshape the sector

The U.S. is leading a wave of fine wine consolidation, with 30 M&A deals annually totaling $8 billion—transaction values doubled from 2022 to 2023. Europe is following suit, with Italy and France closing 10 deals in 2024. This trend is driving market expansion, innovation, and resilience amid economic volatility, setting new industry benchmarks. At the same time, climate change is redrawing the wine map. Southern regions face rising temperatures (+3°C from flowering to harvest in 2024) and extreme droughts (-50mm rainfall), threatening traditional vineyards. Meanwhile, northern areas like Denmark, will gain ground with longer growing seasons and milder conditions. If the climate challenge is not addressed Cabernet Sauvignon, once exclusive to southern Europe, may thrive in central and northern regions by 2100. To adapt, the industry must invest in policy reforms, agricultural technology, and collaborative solutions to ensure a sustainable future. From 2015 to 2024, major Italian fine wine brands maintained steady earnings before interest and taxes (EBIT) margins of 15-17% despite market swings. Despite France’s dominance—nine of the top 10 brands and 95% retail value share—Italy’s diversity offers growth potential, and unique storytelling opportunities, with 20 wine regions and 1,000 grape varieties (vs. France’s 13 regions, 250 varieties).

The future of fine wines

Looking ahead, the fine wine market sits on sound fundamentals for steady growth, with projections indicating a rise from €30 billion in 2024 to €35-40 billion by 2030, representing a 4-6% compound annual growth rate (CAGR) from 2025. However, intensified trade tensions, with new tariffs potentially impacting European exports to the US, could put at risk some of the projected growth, particularly in the entry level portion of the market. At the same time, Western markets will remain dominant, while emerging regions such as Asia and the Middle East present untapped opportunities, alongside consolidation efforts reshaping the industry.

“The fine wine sector continues to evolve, balancing tradition with innovation. While the market faces short-term headwinds, its fundamentals remain strong, positioning it as a core component of the luxury landscape for years to come,” said Federica Levato, partner at Bain & Company and leader of the firm’s EMEA Fashion & Luxury practice and co-author of today’s report.

Editor’s Note: For a media pack on the above findings, questions, or to schedule an interview; please contact Orsola Randi at orsola.randi@bain.com or +39 339 327 3672.

About Bain & Company  

Bain & Company is a global consultancy that helps the world’s most ambitious change makers define the future.  

 Across 65 cities in 40 countries, we work alongside our clients as one team with a shared ambition to achieve extraordinary results, outperform the competition, and redefine industries. We complement our tailored, integrated expertise with a vibrant ecosystem of digital innovators to deliver better, faster, and more enduring outcomes. Our 10-year commitment to invest more than $1 billion in pro bono services brings our talent, expertise, and insight to organizations tackling today’s urgent challenges in education, racial equity, social justice, economic development, and the environment. We earned a platinum rating from EcoVadis, the leading platform for environmental, social, and ethical performance ratings for global supply chains, putting us in the top 1% of all companies. Since our founding in 1973, we have measured our success by the success of our clients, and we proudly maintain the highest level of client advocacy in the industry.

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In HelloNation, Custom Fabrication Expert Mark Coyle Explains a Common Mistake in Custom Aluminum Design

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The article explains why smart geometry, not thicker walls, creates stronger, more efficient aluminum components.

ROCHESTER, N.Y., Oct. 24, 2026 /PRNewswire/ — What early design choice causes many custom aluminum projects to become heavier, costlier, or harder to manufacture? That question is addressed in a HelloNation article featuring insights from Custom Fabrication Expert Mark Coyle of American Custom Metals, Inc. in Rochester, New York, that outlines how misunderstanding aluminum behavior leads designers to rely on thick walls instead of stronger geometry.

The article begins by explaining that many people assume thicker walls automatically make aluminum parts stronger. It notes that aluminum does not respond to wall thickness the way steel does. Instead, its performance is shaped by how the metal flows through the extrusion die. The article states that custom aluminum design is more effective when profiles use ribs, chambers, and flanges to create stiffness without adding unnecessary weight. This guidance helps readers understand why adding material often increases cost without improving strength.

The article also highlights that thicker walls change how aluminum moves during extrusion. When heavy areas fill more slowly, the metal cools unevenly and can develop stress that only appears later. The HelloNation piece explains that well-balanced geometry keeps extrusion smooth and predictable. This consistency makes it easier to maintain dimensional accuracy across long production runs. By focusing on geometry, custom aluminum design avoids the problems that come with slow extrusion speeds and uneven cooling.

Another insight in the article centers on how ribs and internal supports influence stability. It describes how a thin wall supported by a properly placed rib often performs better than a thick wall with no reinforcement. This happens because the rib helps distribute load, improve stiffness, and guide the aluminum as it cools. The article explains that this structural approach makes custom aluminum design more efficient and gives designers more control over how the final part behaves under pressure.

The article also shows why early collaboration between designer and fabricator prevents costly changes. It states that a fabricator familiar with extrusion can catch potential issues before a die is built. Small adjustments to corners or transitions can remove weak points or improve metal flow. The article notes that this teamwork keeps the design aligned with real-world production. By working together early, both sides reduce the risk of redesigning the die after the first test run.

Machining is another area where the article explains how wall thickness affects performance. Features such as deep pockets or sharp internal angles may require slow feed rates or special tooling. When walls are thicker than needed, those areas can become difficult to machine cleanly. The article states that thoughtful custom aluminum design makes machining more predictable. Small changes, such as adding radiused edges or sizing features to match standard tools, help shorten cycle times and prevent tool wear.

Thermal behavior receives detailed attention as well. The article explains that aluminum retains heat differently depending on the mass of each section. Thicker walls hold heat longer, which increases the chance of distortion during extrusion, machining, or finishing. When a design uses geometry to create strength, the material cools more evenly. This reduces warping and helps long profiles stay aligned. The article notes that stable cooling is important for components that require a precise fit and consistent shape throughout an entire production run.

Cost is also a key topic in the article. It states that heavier profiles increase material use, extrusion time, and tooling needs. A custom aluminum design that relies on geometry instead of mass lowers material consumption and keeps the fabrication process efficient. The article explains that lighter parts are easier to handle, ship, and assemble. This saves money across multiple stages of production and supports long-term manufacturing efficiency.

The article also notes that smart custom aluminum design creates profiles that behave predictably during extrusion and machining. Smooth transitions, balanced wall dimensions, and structural features help reduce the chance of distortion or dimensional drift. These elements also lower scrap rates and support reliable performance. By using geometry instead of excess material, designers build parts that maintain strength without compromising manufacturability.

As the article concludes, it emphasizes that avoiding thick walls is one of the best ways to improve performance and lower cost. It states that the most dependable custom aluminum components come from designs that use structural features to strengthen the profile. When designers understand how aluminum behaves at each stage of extrusion and machining, they create parts that are strong, efficient, and consistent from batch to batch. This approach turns custom aluminum design into a predictable process rather than a series of uncertain adjustments.

A Common Mistake in Custom Aluminum Design features insights from Mark Coyle, Custom Fabrication Expert of Rochester, NY, in HelloNation.

About HelloNation
HelloNation is America’s Good News Network, a premier media platform built on the idea that good news travels faster when real people tell real stories. Through its community-focused publications and innovative “edvertising” approach, HelloNation delivers content that informs, inspires, and spotlights the leaders making a meaningful impact in their communities.

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World Young Scientist Summit 2026 Opens in Wenzhou, Zhejiang

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WENZHOU, China, Oct. 24, 2026 /PRNewswire/ — This is a report by China Daily:

On October 24, the World Young Scientist Summit 2026 opened in Wenzhou, Zhejiang. The event is hosted by the China Association for Science and Technology (CAST), the Zhejiang Provincial People’s Government, and the World Association of Young Scientists. Nearly 800 representatives, including scientists, educators, and entrepreneurs from more than 60 countries and regions, are attending the summit.

He Junke, Vice President of CAST in charge of daily work and First Secretary of its Secretariat; Lian Yimin, Chairman and Party Group Secretary of the Zhejiang Provincial Committee of the Chinese People’s Political Consultative Conference; Marcelo Knobel, Executive Director of The World Academy of Sciences; and Zhang Zhenfeng, Member of the Standing Committee of the CPC Zhejiang Provincial Committee and Secretary of the CPC Wenzhou Municipal Committee, attended the summit and delivered remarks. Yao Gaoyuan, Vice Governor of the Zhejiang Provincial People’s Government, presided over the first segment of the plenary session.

With the theme “Gathering Talents Worldwide to Create a Better Future,” the summit’s annual agenda is “Global Youth Action in the AI Era: Building a Sustainable Future.” It aims to draw on the insights of young people around the world, deepen international sci-tech cooperation, and jointly address questions about young people, science, the world and the future.

Efim Zelmanov, Fields Medalist and Foreign Member of the Chinese Academy of Sciences; Chen Yunji, Deputy Director of the Institute of Computing Technology, CAS, and Director of the National Key Laboratory of Processor Chips; Mary Garson, President of the International Union of Pure and Applied Chemistry; and Lu Chaoyang, Member of the Standing Committee of CAST, Executive Dean of the Shanghai Institute of Advanced Study, University of Science and Technology of China, and Chairman of the Council of the World Association of Young Scientists, delivered keynote speeches respectively on education reform in the AI era, AI and processor chips, young women scientists’ participation in science, and quantum computing. They explored new opportunities for scientific research, talent cultivation, and international cooperation in the AI era.

This year’s summit placed greater emphasis on the growth needs of young scientists, with young talents under the age of 45 accounting for 88 percent of participants. It aimed to build a cluster of international journals, bring together young scientific talent, facilitate a batch of international collaborative projects and advance the application and commercialization of scientific and technological achievements. The summit released the Report on the Distribution and Mobility of Young Scientists in the Field of Embodied Intelligence, launched the World Young Scientist Summit Partner Journal Program and the 2026 World Young Scientist Innovation and Entrepreneurship Growth Support Program. It also published the “Young Scientist Pioneers 2035” list and announced the 2026 Sustainable Development Young Scientist Award. The awards were presented to four Chinese and foreign scientists.

Chen Tianrun, Founder of Hangzhou Moxin Technology Co., Ltd.; Yuan Yang, Assistant to the Dean of the Institute for Interdisciplinary Information Sciences at Tsinghua University; and two of the 2026 Sustainable Development Young Scientist Award winners, César de la Fuente and Nicola Segata, among other Chinese and foreign young scientist representatives, spoke at the flash-talk session to share their research practices and reflections.

In addition, the conference focused on fields such as future manufacturing, quantum information, embodied intelligence, brain-computer intelligence, environmental science, deep-sea resources, and life and health, and held 12 parallel forums. It also included the “Gravitation π” Future Technology and Concept Products Exhibition and Exchange, local thematic side events, and sci-tech and humanities study visits, further building an interdisciplinary, cross-regional and cross-sector platform for youth sci-tech exchange and cooperation.

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SOURCE China Daily

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The Ultimate Send-off to Summer: CSTS Debuts Global Entertainment IP PremierX at New York’s Pier 17, Ushering in a New Era of Live Entertainment

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NEW YORK, Oct. 24, 2026 /PRNewswire/ — CSTS Enterprises (‘CSTS’), a New York-based sports, entertainment, integrated media and travel technology group, today announced the official launch of PremierXTM, its flagship live entertainment brand, with a landmark Halloween Weekend event “AFTER DARK” at The Rooftop at Pier 17 in New York on October 30, 2026.

Capping off Seaport’s 2026 Summer Season in unforgettable fashion, the grand finale brings a powerhouse lineup of stars to the PremierXTM stage at Pier 17, featuring Lil Xan, Armani White, DJ Soda, Nate Wyatt, and surprise A-list guest headliners. Set against the iconic Manhattan skyline, the landmark eventing unites chart-topping hip-hop and high-octane electronic music for a festival-grade experience as The Rooftop at Pier 17 transforms into the city’s premier live music destination.

Building on the momentum of the PremierXTM After Party for the 2026 World Cup Final that took place in New York on July 19th, “AFTER DARK” signals the official debut of PremierXTM, a proprietary, New York – born global entertainment IP created by CSTS to deliver defining cultural experiences at the intersection of music, sport, art and lifestyle. Centred on the power of cultural crossover, PremierXTM serves as an international bridge connecting East and West, modern innovation and timeless classical, while uniting world-class artists, creators, performers and audiences through the universal language of entertainment and premium live experiences.

The launch also marks the beginning of a promising relationship with Pier 17, providing a world-class stage for PremierXTM to accelerate its growth in the U.S. and engage international audiences over the long term. By combining PremierXTM’s global entertainment vision with Pier 17’s iconic waterfront setting, the partnership aims to create a premier destination for live experiences, empowering both platforms to expand their global reach, deepen audience engagement, and drive sustainable growth.

As a key pillar of CSTS’ integrated ecosystem spanning entertainment, sports, travel, integrated media and marketing solutions, PremierXTM further strengthens the Group’s ability to create high-impact experiences that connect audiences, destinations and brand partners. With the global live entertainment market projected to grow from approximately US$203 billion in 2025 to US$270 billion by 2030[1], PremierXTM is well-positioned to capitalize on the growing demand for premium, experience-led entertainment while creating long-term value to the Group through recurring audience engagement, tourism and brand partnerships.

“PremierX TM represents a significant milestone in CSTS’ evolution from a leading operator of global sports and hospitality platforms into a creator of world-class entertainment experiences,” said Abel Zhao, Group CEO and Executive Director at CSTS Enterprises. “The season finale at Pier17 marks the beginning of an exciting new chapter for CSTS as we expand our entertainment footprint and introduce a platform designed to deliver iconic live experiences and bring together artists and audiences from across the globe.”

“PremierXTM was built from the ground up as a bespoke platform to champion multicultural talent and visionary creative performers.” said Jason Liu, Regional Director of CSTS USA. “Starting from New York, we are building a scalable global brand that brings iconic live experiences to audiences worldwide while expanding our presence across key entertainment hubs in North America, Asia and Europe.”

Following its New York launch, PremierXTM plans to expand through a broader international rollout across North America, Asia and Europe, with future editions planned as part of a growing network of recurring live entertainment properties and flagship cultural events.

For ticket information on PremierXTM: “AFTER DARK”, visit
https://www.axs.com/events/1644912/after-dark-tickets

About CSTS Enterprises

CSTS Enterprises is an integrated media, entertainment, sports, and travel technology group. Headquartered in New York City, the company develops and partners with intellectual properties and brands to deliver compelling experiences that connect with audiences across the world. In addition to its own initiatives, including Generation CTM and PremierXTM, it collaborates with international IPs including FIFA World Cup, UEFA European Championship, and Formula 1.

CSTS integrates experiential marketing, travel, data, and technology to deliver seamless end-to-end audience experiences. The company engages consumers across physical events and digital channels, executing at scale worldwide, turning complex activations into co-ordinated, measurable outcomes.

[1] Source: Industry research by Markets and Markets, Live Entertainment Market Size, Share, Latest Trends & Growth Analysis, 2025-2030, Live Entertainment Market Size, Share, Latest Trends & Growth Analysis, 2025-2030.

 

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