China to become world s 2nd largest wine market by 2020

London March 2 (IANS) China is set to become the world s second biggest wine market by 2020 when sales of still and sparkling wine reach the $21 billion-mark in the country the wine industry s VINEXPO has said.

The data was released by Guillaume Deglise CEO of VINEXPO the world s leading wine and spirit exhibition according to Xinhua news agency.

It is forecast that China which is currently ranked fourth behind the US Britain and France will witness a growth of 39.8 per cent in retail values in the next three years.

The US will still come out on top with $38 billion by 2020 after a growth of 11.9 per cent 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.

--IANS
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