South Africa’s wine growers see new demand from China
(CNN)As wages rise in China, so has spending on luxury goods. And wine is one of them.
Over the next four years, the economic giant is predicted to overtake France and the United Kingdom to become the world’s second-largest market for wine, behind the United States.
Wine consumption in China is expected to rise by more than a third to $23 billion in 2021, when it will reach a volume of 192 million cases, according to Vinexpo. That’s a growth rate of 30%.
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