Experts Predict China Will Drink More Wine By 2020
March 9, 2017 | BY AFP/RelaxNews
The Asian country is set to become the world's second largest wine market after the US, and push the UK into third spot by 2020.
Those are the latest stats out of Vinexpo, a leading wine and spirits exhibition ahead of its gathering in Bordeaux this June.
Over the next three years, sales of still and sparkling wine are poised to reach $21 billion USD in China, marking a growth of nearly 40 percent, while imports to the UK are predicted to fall from $15.8 billion USD to $15.5 billion between 2015 to 2020.
The move means that China will also overtake France in the wine world. China is currently ranked fourth behind the US, UK and France.
Sales in the US are projected to reach $38 billion USD over the same period. Back in the UK, statistics also predict an overall decline in per capita wine consumption from 24.3 liters to 20.3 liters by 2020.
But there's a twist. Though consumers may be drinking less, the figures suggest they're drinking better, with sales of premium still wine rising. Meanwhile, sales of value wines— defined as under £5 ($6 USD)—are predicted to fall about four percent over the five-year period between 2015 and 2020.
In other sectors, lower alcohol wines are expected to see greater popularity, driven by health-conscious consumers and lower price points.
British consumers are also predicted to develop a growing thirst for sparkling wines, most notably with prosecco which is expected to lead the global growth market to reach a total consumption of 8.2 million, 9-liter cases.
Consumption of sparkling wine per head in the UK is also set to increase overall from 12 liters in 2015 to more than 15 liters by 2020.
The report also shows that over the next three years, while Australia will remain the leading wine supplier for the UK, the US is poised to supplant France to become its second largest wine supplier this year.
After the US and France, Italy and Spain round out the top spots.
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