China To Become World's 2nd Largest Wine Market By 2020

News World India | 0
| } March 2 , 2017 , 18:18 IST
chinaChina 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. ALSO READ:China To Slash 5 Lakh Jobs From Coal, Steel Sector 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. ALSO READ:Atlest 10 Persons Died In Fire At Luxury Hotel In China VINEXPO is an international wine and spirits exhibition that will be held in Bordeaux, France from June 18 to 21 this year.