Vinum Fine Wines Market Report August 2026

Back to front

Last month, my editor commented that the report was fine, just fine mind, but started boringly and became more interesting as it went on. Given the editor has little interest in markets, and only a passing interest in wine, except how to drink it, this came as no surprise. Also, it’s the height of summer in an already quiet market, so there’s very little to say anyway.

She does know quite a lot about journalism, however, so I decided, for once, to agree with her and change it up a bit.

So, for those who do want to know what is going on in the wine market, please feel free to skip the next few paragraphs and whizz to the back end.

The Weather

Talking about the weather is becoming almost an Olympic sport, and that’s not just for winemakers.

Records in the UK are being smashed each month; consistency of extreme heat, most days above 30°C, above 34°C, the warmest spring, the warmest June etc., etc., etc.

More alarmingly, the EU has reported this summer has been the worst ever on record for wildfires. According to Le Monde, soil moisture levels have dropped below that of 2022, the last great drought in Western Europe.

The Danube is running so low that several nuclear reactors have been forced to close threatening energy crises in nearby areas.

And while our CEO worries about the threat of fires on his Mallorcan doorstep, Big John is reporting of unusual snowfall in his native South Africa.

Even the Edinburgh office has reported mercury in the mid-twenties. The world has gone mad.

The impact on the wine world

As we’ve reported on consistently, the wealthier producers are finding ways to cope with global warming in terms of making great wine, but at great expense.

Some, like Lafleur, have taken drastic action and have eschewed their AOC ties for example. Others have invested in greater canopy management and other expensive technologies, chill out rooms (for the grapes, not the staff) for one.

Harvests are consistently starting earlier and earlier, and presumably much more uncomfortably given the heat. Finding pickers must be harder than ever, and much valued holidays are surely being interrupted – sacré bleu!

Harvests have already started in Rioja, on August 6^th, representing the earliest date on record. The same date applies to the more lowly appellations of Bordeaux where the Crémant is almost ready to drink. (Not really).

Applications have been made in Champagne to start before the official date of 13^th August as required alcohol levels are already being attained. And so it goes on…

Vines are suffering from hydric stress and have shut down. One grower in the Languedoc is quoted as saying that unless there’s some rain soon, the grapes will still be there but there will be no juice inside.

It is the same here in the UK. Adrian Pike of award-winning  Westwell Wines tells me, there is a real risk of hydric stress, even on chalky soils which retain moisture better than most.

The grapes are small, which make them harder to harvest physically, and more difficult to tell what is ripe and what isn’t – all more labour-intensive stuff. He also voices concerns about finding labour.

The French Agriculture Ministry normally report the national production estimate at the beginning of August but have already announced that will be pushed back a month owing to unpredictability. Hell’s teeth, almost literally!

Hailstorms abound and are very localised, but the stones seem to become larger each year. I’ve just seen a video shocker from the Beaujolais region on Sky News. And Piedmont.

Yields are going to be down again, no bad thing for an overstocked market, but the situation is really not great for the wider wine community.

Adrian is not only shocked about the pace of climate change and the effect on his vineyards and winemaking, but on all agriculture. We’re living in a brave and very hot new world.

News from Asia, starting with Hong Kong

In the first half of 2026 the value of wine imports to Hong Kong rose by a little over 20% while volume was just over 4% i.e. more bottles, but with much bigger price tags.

It is the first time in five years that both numbers have been in positive territory, and we have definitely been noticing the uptick in demand, particularly for top tier labels.

China

In China, the leading news story has been about Lady Penguin taking a dive. China’s leading wine influencer, with six million influencees, has been accused of smuggling. The dive happened last year but her case goes to court on September 1^st.

More interesting, perhaps, is Don St. Pierre’s piece published on Vino Joy’s website.

Don was a pioneer in the China wine market, founding ASC Wines in the mid-nineties, selling it to Suntory in 2014 and buying it back in 2025. He happens to own Vino Joy too.

In this piece, he is honest about Chinese domestic demand not returning as fast as many expected, himself included. The pressures on domestic households in China are similar to everywhere else and so are the systemic issues within the wine market, namely too many players, multiple distribution channels, and too many discounters trying to make a sale. This is not a particularly Chinese problem as he suggests – it is widespread.

The biggest difference about China, and perhaps why it is such an opportunity, is that the national average of wine consumption is only 1.3 litres per person per year – that’s only a decent lunch for our man from Wendover!

In Shenzhen, China’s Silicon Valley, the population of c.18 million people with an average age of 32.5, drink much more wine than that, a whopping 2.1 litres, every year. In other words, there is definitely room for growth.

Top Wine Drinking Countries

• Portugal: About 61 litres per person each year (the highest in the world).
• Italy: About 43 litres per person each year.
• France: About 42 litres per person each year.
• Switzerland: About 30 litres per person each year.

Lower Wine Drinking Countries

• Germany: About 25 litres per person each year.
• Spain: About 24 litres per person each year (where beer is often more popular).
• United Kingdom: About 22 litres per person each year.
• Poland and Northern Europe: Often under 10 litres per person each year, as beer or spirits are preferred.

Wine accounts for just under 8% of China’s alcohol market, which is still dominated by Baijiu with 75%. With most commercial varieties of Baijiu weighing in at 50-55% ABV, I can see the gap in those numbers closing. Also, from my experience at least, it’s vile!

Singapore

In Singapore, imports of sparkling wines (very nearly all Champagne) have outpaced those of still wine with a 52% market share. Numbers can be skewed in Singapore, however, as neighbouring countries often use the city state for storage, as wine has an advantageous tax treatment compared to the likes of India, Indonesia and Malaysia.

South Korea

The value of imports into South Korea rose a little in the first half of this year, but the volume of bottles fell. Unusually, American wine takes second place in the charts with c.20% of the market, second only to France with nearly 40%

Vietnam and Thailand

Both continue to grow as wine markets, but are coming from a very low base.

July performance

Looking at the indices, the news isn’t all bad, the 50 and the 100 are both up +0.3% so time to pop the Cava, if you’re in Spain.

California and Champagne had a cracking month, and the Rhône rebounded after last month’s poor performance. As noted before, the year-to-date numbers are not significant enough to warrant a letter home.

Harlan was the best performer in California, whilst Dom Perignon and Cristal Rosé were the best performing sparklers.

Rayas was king of the Rhône but dark horse Vieux Télégraphe continues to improve on the inside rails.

Chez Vinum

As usual, here at Vinum our biggest market was Burgundy, with a lot of Roumier and Meo-Camuzet changing hands, followed by Bordeaux and Champagne. California had a very decent month and we’re really looking forward to the Opus One ’23 release in September. In case you missed it, here’s my write up of our tasting here.

Unusually, we did as much business in the Rhône as we did in Italians, but in low single digit percentages.

Enjoy the rest of the summer folks and see you back at school in September!

Miles Davis, reporting from the scorching South Downs, 14^th August 2026.