World's largest wine markets by 2020 predicted by report | Lifestyle.INQ

OCTOBER 27, 2022

China is set to overtake the UK to become the second biggest wine market in the world by 2020. Image: CarlosAndreSantos/IStock.Com via AFP Relaxnews

China is set to become the world’s second largest wine market after the United States, and push the United Kingdom 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 in China, marking a growth of nearly 40 percent, while imports to the U.K. are predicted to fall from $15.8 billion 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 U.S., U.K. and France.

Sales in the U.S. are projected to reach $38 billion over the same period.

Back in the U.K., 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), 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 U.K. 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 U.K., the U.S. is poised to supplant France to become its second largest wine supplier this year.

After the U.S. and France, Italy and Spain round out the top spots. JB

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