Report suggests global wine shortage is coming - MyFoxAustin.com | KTBC Fox 7 | News, Weather, Sports

Report suggests global wine shortage is coming

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(WJBK) -

Say it ain't so!

A global shortage of wine is fast approaching.

A report by Morgan Stanley Research shows data that suggests there may be insufficient supply to meet demand in coming years. Wine consumption across the globe has increased at such a steady pace that demand could soon topple over the supply.

A major reason is because wine production in Spain, France and Italy, the world's three largest wine-producing countries making 60 percent of the world's wine, has sharply decreased as less land is being used to grow grapes.

Last year there was an undersupply of 30 million cases, which is the largest shortfall in 50 years.

The U.S. and China consume the most wine.

Fox News contributed to this report.

LINK: Click here to read more on foxnews.com

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