Over the next few years, the international wine market will look strikingly different, with Portugal projected to overtake France when it comes to per capita wine consumption, and India, Mexico, South Africa expected to see notable growth as well.
Those are some of the newest projections from a study conducted by Vinexpo, one of the world's leading wine trade fairs which takes place in Bordeaux, France this summer.
Overall, the report notes that consumers around the world tipped back the equivalent of 267 million hectoliters last year, marking a modest 0.4 percent rise and the stabilization of the market.
There are also a few longstanding wine trends that haven't changed over the last few years: The US and China remain the world's biggest wine markets.
By 2020, China will represent 72 percent of the growth in wine imports by volume, while the US is also projected to post a 12 percent growth by value.
The US will retain the title of the world's biggest wine market by both volume and value.
But the story is markedly different in France, where wine consumption rates are projected to plummet 7.5 percent by 2020 with a per capita consumption of 43 liters, ceding the top spot for European consumption to Portugal, where consumption is projected to rise to nearly 50 liters per capita over the next three years.
Another big player in the wine market by 2020 will be India, says Vinexpo, which is expected to grow by a whopping 50 percent.
China's growth is pegged at 20 percent, while Mexico and South Africa are also expected to become increasingly important players in the market with 18 percent and 17 percent growth rates respectively.
Other countries where wine consumption is projected to grow include the Philippines, Taiwan, and South Korea.
Vinexpo takes place June 18-21 in Bordeaux. The 19th edition is expected to draw 2,300 exhibitors from 42 countries and 48,000 visitors.