China is set to become the world's second biggest wine market by 2020 when sales of still and sparkling wine reach 21 billion U.S. dollars 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 U.S. dollars by 2020 after a growth of 11.9 percent over last year's volume.
VINEXPO is an international wine and spirits exhibition that will place in Bordeaux, France from June 18 to 21 this year.