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Wine consumption to exceed 26.2bn litres by 2010

Published:  23 July, 2008

Worldwide wine consumption is expected to exceed 26.2 billion litres by 2010.

A report by Global Industry Analysts also recognised Europe as the leading global wine market with consumption predicted to rise above 16.3 billion litres by the year 2015.

Data from the study found the wine market has been growing at a compounded annual rate of 1.26% in the period between 2001 and 2010.

The report said: "Developing countries like Russia, China, Australia and India, to name a few, are expected to drive future growth in the market. Changing lifestyles in these countries, which mostly mimic Western lifestyles, is proving to be a major win for the growth in wine consumption.

"Previously, interest in wines was confined to middle-aged customers, today a growing base of younger consumers are exhibiting a marked preference for wine over other alcoholic beverages."

Asia-Pacific will emerge as the fastest growing region for wine consumption by 2010, the report added.