Oh no! It looks like everyone’s favorite fruit drink may be in short supply very soon. Now who will accompany you throughout all those Project Runway marathons?
While wine production has been quite good this year due to improved harvests, it still will not be enough to accommodate the growing market of wine-drinkers — particularly in the US and China — who are projected to consume over 400 million cases each by 2016. Last year, there was already an under-supply of 300 million cases.
While the “new world” market (the colonial-chic term that encompasses US, Australia, Argentina, Chile, South Africa, and New Zealand) is growing, Europe, which still provides about 60% of the world’s wine, has already seen a decline of about 25% since 2004, the peak year for wine.
So next time you are deciding whether or not that $1 mega-clearance Christmas wine with the ‘cheerful’ red-faced Santa label is worth it, know that it may soon be a relic of purple lips-past.
[Time, Quartz]
Image from AP
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