White wine trading has surged 650% as Burgundy reshapes the fine wine market

Trading in fine white wine has risen sharply over the past 15 years, led by Burgundy and supported by broader changes in buying habits, restaurant demand and supply constraints, according to new market data published by Liv-ex and industry comments gathered across the trade.

Liv-ex said the value of white wine traded on its exchange has climbed 650% since 2010, while red wine trading by value has fallen 15% over the same period. Champagne and sparkling wine posted an even larger increase of 1,100%, though that category has also gone through a more volatile cycle since 2020. By contrast, white wine demand has held up better during the recent downturn in the fine wine market.

The figures point to a steady shift in a secondary market that was long dominated by red wine. Burgundy is at the center of that change. Liv-ex said Burgundy accounts for 69.3% of white wine trading by value in 2026. White Bordeaux is a distant second at 10.5%, and its share has declined 17.6% since 2011. Italy represents 4.5% of white wine trading by value on the exchange, followed by the United States at 3.6%, Germany at 3.3% and the Rhône at 3.2%.

The rise of white Burgundy reflects both strong demand and limited supply. Merchants and brokers say top wines from Puligny-Montrachet, Le Montrachet, Chablis and Corton-Charlemagne continue to attract buyers, while areas such as Saint-Aubin and Meursault are drawing more attention as collectors look for alternatives within the region. Scarcity has become a central factor in pricing and turnover, especially as allocations remain tight.

At Armit Wines in Britain, managing director Brett Fleming said premium whites are increasingly being traded in much the same way as top red wines, with Burgundy driving much of that activity. He said volume restrictions from Burgundy are likely to keep supporting this trend. Benjamin Stanley, a broker at the company, said demand for producers such as Coche-Dury remains far above available supply, while village-level wines from names such as Pierre-Yves Colin-Morey and Ramonet are also moving faster as buyers search for lower entry points.

Auction data shows a similar pattern, though with some signs of stabilization after several years of growth. At iDealwine, the share of still dry white wine sold at auction slipped to 20.1% in 2025 from 20.8% in 2024, after rising from 19% in 2023 and 17.7% in 2022. The French auction house sold just over 30,000 bottles of white Burgundy last year on a standard 75-centiliter basis, up 13% from 2024. Even so, average hammer prices fell to €193 from €213.

That softer pricing suggests that demand remains solid but is no longer moving in a straight line upward. The broader fine wine market has cooled after earlier peaks, and some traders say white wines have not been immune. Still, compared with red wines, whites appear to be gaining a larger place in collector portfolios.

Geraint Carter, an investment specialist at Bordeaux Index, said white Burgundy’s share of his company’s trade by value has increased from about 2% to about 5% over the past decade. He described that as meaningful growth but said it should not be overstated because volumes are limited and distribution is fragmented. He also placed the trend in a wider context: Bordeaux no longer dominates buying patterns as it once did, and collectors are spreading spending across more regions and styles.

That diversification is one of the clearest themes emerging from the market. As top white Burgundy becomes harder to secure and more expensive, buyers are looking elsewhere. Sophia Gilmour, a market analyst at Liv-ex, pointed to Antinori’s Cervaro della Sala, a Tuscan Chardonnay that was rarely traded before 2020. Liv-ex has recorded eight times more volume traded so far this year than in all of 2019.

Other non-Burgundy whites are also attracting attention at auction. iDealwine cited recent sales including Jean-Louis Chave’s Hermitage Vin de Paille 1989 in half-bottle format for €576, Dagueneau’s Astéroïde Pouilly-Fumé 2000 for €2,066 and Keller’s G-Max Riesling Trocken 2021 for €1,440. These examples suggest that buyers are willing to pay high prices for rare white wines outside Burgundy when provenance and reputation are strong.

Primary market sales tell a related story. The Wine Society said its sales of fine white wines have doubled over the past four years. Alex Turnbull, head of fine wine at the merchant, said global demand for white Burgundy has surged, but stock shortages and higher prices have pushed customers toward other regions. He said South Africa, Austria, Jura, New Zealand and the Loire have benefited from what he called Burgundy’s halo effect. He also said white Bordeaux is recovering because buyers see value there, with demand at The Wine Society up 55% over four years.

The merchant reported even faster growth in other categories. Sales of regional French fine white wines have tripled over the past three years, while fine white Portuguese wines have risen 370% over four years. Turnbull said these gains reflect broader improvements in white winemaking around the world rather than simply spillover from Burgundy. He pointed to South African Chenin Blanc, Italian whites from multiple regions and small-production American wines as examples of categories that have built their own following.

Not every region is sharing equally in this shift. Carter said Bordeaux Index sees a mixed picture beyond Burgundy. He said Sauternes and white Rhône have experienced long-term declines in trading activity, while interest appears to be growing in the Loire Valley, South Africa and Germany. Those categories remain small in secondary market terms, but they show that buyers are becoming more willing to move beyond traditional centers of fine wine collecting.

Industry participants also see a demographic change behind the numbers. Stanley said younger buyers entering the market are less tied to the old idea that red wine is the main status symbol in collecting. He added that restaurants have helped shape demand because sommeliers have spent years promoting lesser-known white appellations by the glass and on tasting menus, encouraging trial that later feeds into retail and secondary market purchases.

That restaurant influence matters because it connects consumption trends with investment behavior. Fine wine collecting is no longer driven only by cellar traditions or auction history. It is also shaped by what drinkers encounter in dining rooms, what they can still afford to buy and what they believe will remain scarce.

For producers and merchants in France and elsewhere, the shift carries economic implications beyond headline trading values. Stronger secondary market demand can support release prices and reinforce brand prestige for leading estates. At the same time, it can redirect attention toward regions once considered peripheral in fine wine circles if they offer quality at lower prices or greater availability.

The latest data does not show a complete reversal of red wine’s importance in fine wine markets. Red still accounts for much of global trade by volume and value. But it does show that white wine now occupies a larger role than it did a decade ago, especially at the top end of the market where scarcity, reputation and changing tastes are reshaping how collectors spend their money.