The global wine market is to reach 27.5 billion litres by 2017, according to a global strategic business report by Global Industry Analysts (GIA).

The increase is primarily due to factors like rising affluence, growing shift towards premium alcoholic beverages, increasing consumption of wine, adoption of western lifestyles in developing markets and rising awareness of health benefits associated with wine consumption.

During 2008 and 2009, the wine industry struggled primarily due to economic crisis and decline in wine consumption in major markets like the US and Europe.

After a brief setback, in 2010 the wine industry was back in the recovery mode with improved exports reported by the global suppliers.

The worldwide wine production in 2011 was nearly stable with slight higher production level recorded as compared to 2010 results.

However, the total area under vine worldwide has been shrinking over the last few years.

Though Europe stands at the top of the chart in the global wine industry currently, it is expected that Asia-Pacific will sweep the industry with compounded annual rate growth of 3.8% during the analysis period.

Wines from new world regions including China, Australia and New Zealand are already giving a tough time to wines from older world regions like France, Spain and Italy.

China in particular is looking to grab majority of the share in the global wine industry.

The research report titled ‘Wine: A Global Strategic Business Report’ provides comprehensive market overview, trends and issues, impact of recession on the industry, global wine production scenario, recent industry activity and profiles of market players worldwide.