By Leah Bourne, The Vivant
wine bottlesTo you wine lovers out there, you might want to sit down. According to new Morgan Stanley research, there is a possible wine shortage looming. Because of the growing demand from Chinese and American shoppers and a fall in production, the price of wine could shoot up.
Related Article: 10 Simple Centerpieces Perfect For FallWine production peaked in 2004 with an excess of 600 million cases, but since, supply has fallen, particularly because production in Europe is now 10 percent lower than it was in 2005. Bad weather conditions are also reportedly playing a role.
Related Article: The 50 Best Food Trucks In AmericaAt the same time global demand for wine has only grown. According to the study, last year demand outstripped supply by 300 million cases, and things are only expected to get worse. "Data suggests there may be insufficient supply to meet demand in coming years, as current vintages are released," the report said.
The global wine industry nowRead More »from Say it Isn’t So! Experts Predict Global Wine Shortage