China may overtake UK in wine consumption

China is likely to displace Britain as the world's second largest wine consumer, in terms of value, by 2021, according to research from Vinexpo, one of the largest exhibitions for wine and spirits professionals globally, and the UK-based International Wine and Spirit Research.

The growth rate of the Chinese wine market is estimated to exceed 30 percent over the next five years, starting from 2017 onward, and attain a size of $23 billion in 2021, second only to the US.

"The growth of value (in China) is mainly led by the increase of volume," said Guillaume Deglise, CEO of Bordeaux, France-based Vinexpo, at a news briefing in Shanghai.