The world is facing a wine shortage despite the fact that there are 2.8 billion cases being made each year.
The wine industry is short by 300 million cases every year. The French consume the most wine every year, followed by Americans and then the Chinese. Europe saw its wine production drop by 10% in 2012, but the amount of wine being drank rose 1% worldwide. America produces 8% of the world’s wine, but consumes 12% of it and consumption increased 2% last year. The Chinese have become particularly fond of wine as the country’s economy booms and the standard of living increases. China has also started to produce more of its own wine. Worldwide wine production fell by 5% last year due to bad weather, reports CNN Money.
The United States and China are both expected to be producing 400 million cases of wine each by 2016.