Italy Regional Report

Our Italy Regional Report examines the development of its investment market, historic performance, and key players.

Italy is the world’s largest wine producer, responsible for more than 6.5 billion bottles annually across nearly two million acres of vineyards. While its dominance in the mass wine market is undisputed, Italy’s fine wine sector has undergone a remarkable transformation over the past half century.

The modern era of Italian fine wine began in the 1970s with the emergence of the Super Tuscans – wines such as Sassicaia and Tignanello that challenged traditional classifications and redefined quality expectations. This shift elevated Italy’s global reputation and laid the foundations for a serious fine wine investment market.

Today, Italy stands as one of the most dynamic and resilient regions in the global fine wine landscape. Once overshadowed by Bordeaux and Burgundy, it now accounts for over 15% of secondary fine wine trade by value, with a growing roster of investment-grade wines. The complementary strengths of Tuscany and Piedmont, alongside emerging regions such as Veneto and Sicily, have positioned Italy as a compelling choice for portfolio diversification.

WineCap’s Italy Regional Report examines how this evolution has unfolded – and where the most attractive opportunities now lie.

Key findings from the Italy Regional Report

Italy has become a core fine wine investment region

Over the past two decades, Italy’s presence in the secondary market has grown steadily. In 2010, Italian wines represented less than 2% of global fine wine trade. Today, they account for more than 15%, reflecting rising international demand, increased critical acclaim, and greater investor confidence. This growth has been achieved without the extreme volatility seen in some other regions, reinforcing Italy’s reputation as a stable, long-term investment option.

Consistent performance with lower volatility

Italy’s investment appeal is underpinned by steady performance. The Italy 100 index has risen by over 200% in the past twenty years, outperforming both the Liv-ex 100 and Liv-ex 1000 indices over the last decade. Importantly, Italian wines have shown greater resilience during market downturns, with less pronounced corrections than Burgundy or Champagne.

This combination of growth and stability makes Italy particularly attractive to investors seeking diversification with reduced risk.

Accessibility and affordability set Italy apart

One of Italy’s defining advantages is accessibility. Top Italian wines are generally priced well below their French counterparts, offering a more approachable entry point into fine wine investment. In addition, higher production volumes for flagship wines such as Tignanello, Sassicaia, and Ornellaia enhance liquidity and ease of acquisition, particularly when compared to the extremely limited production of top Burgundy or Californian wines.

This balance of quality, availability, and price makes Italy an effective way to build meaningful exposure within a diversified portfolio.

Tuscany and Piedmont play complementary eoles

Italy’s two leading investment regions serve distinct but complementary functions. Tuscany provides scale, brand recognition, and liquidity through its iconic Super Tuscans and Brunello di Montalcino, delivering consistent returns over time. Piedmont, often compared to Burgundy, offers greater scarcity and potential upside through its Barolo and Barbaresco wines, driven by limited production and strong critical demand.

Together, these regions allow investors to balance stability and growth within a single country allocation.

Emerging regions are gaining traction

Beyond Tuscany and Piedmont, Italy’s regional diversity is increasingly reflected in the investment market. Veneto, Abruzzo, Umbria, Sicily, Campania, and Alto Adige are attracting attention for their quality, value, and growing international recognition. As exposure increases, these regions are expected to play a larger role in Italy’s fine wine trade. This depth and breadth of opportunity is unmatched by any other fine wine-producing country.

Explore the full report

WineCap’s Italy Regional Report provides a comprehensive analysis of Italy’s investment performance, accessibility, regional diversity, and best-performing wines – alongside a clear framework for understanding Tuscany, Piedmont, and the country’s most promising emerging regions.

Download the full Italy Regional Report to explore the data, insights, and opportunities shaping one of the most resilient and accessible fine wine investment markets in the world.