China to become world's 2nd biggest wine market by 2020: VINEXPO
LONDON - China is set to become the world's second biggest wine market by 2020 when sales of still and sparkling wine reach $21 billion in the country, the wine industry's VINEXPO announced here on Wednesday.
The data was released by Guillaume Deglise, CEO of VINEXPO, the world's leading wine and spirit exhibition, at a press conference.
It is forecast that China, which is currently ranked fourth behind the United States, Britain, and France, will witness a growth of 39.8 percent in retail values in the next three years.
The United States will still come out on top with $38 billion by 2020 after a growth of 11.9 percent over last year's volume.
VINEXPO is an international wine and spirits exhibition that will?be held?in Bordeaux, France from June 18 to 21 this year.
