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.