U.S. Set to Overtake France for No.1 Position in the $117 billion Global Wine MarketĀ 

Global wine consumption over the next five years would grow by 9% in market value to $117 billion from $107 billion in 2005, according to a study commissioned by the organizers of the VinExpo trade fair, reports Reuters. The U.S. will overtake France by 2010 as the world's largest wine market, according to the study.

The U.S. still wine market is set to be worth $22.8 billion by 2010, up from $19.2 billion in 2005, with fastest growth rates expected for bottles costing more than $5 each. 

In total, the global market for still wines with an alcohol content of less than 15% by volume was seen growing to 224.8 million hl in 2010 from 211.9 million hl in 2005.

For the first time in the survey's 10 year history, Russia and China appeared in the top-10 markets in terms of consumption

The study also forecasts that the global spirits market would be worth $180.7 billion in 2010 compared with $170 billion in 2005, with Tequila, cognac and rum set to replace vodka as the fastest growing spirits. 

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