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The Prosecco region estimates it will grow to almost five times its current size by 2035.
The Italian sparkling wine producing region forecasts production volumes will reach one billion bottles within the next 25 years, according to figures revealed at Hong Kong’s Wine Future conference. The region currently produces 220m bottles each year.
Gianluca Bisol, managing director of Bisol, estimates the Prosecco-producing regions of Veneto and Friuli will need to invest around €1.8bn (£1.5bn) to finance this expansion.
Bisol told Decanter.com, ‘Growth will be possible because the consumer will shun general sparkling wines for higher quality products.’ Growth has been fuelled by the US, which has quadrupled its consumption of Prosecco in the past decade to 2.3m bottles in 2010.
Production is set to double within the next two years claims Bisol. ‘There are enough vines in the ground for 400m bottles and they will come on stream in 2013,’ he added.
Story by Rebecca Gibb
Courtesy of Decanter