Latest findings from Vinexpo indicate the superpower will jump from the tenth biggest wine producer in the world (as of 2009) to sixth in the world by 2014, marking growth of more than 77%.
This represents an increase from 72 million cases of wine in 2009 to 128 million cases in 2014 at which point Australia's production is predicted to hit 121 million cases.
Although the figures refer to production rather than exports, Vinexpo chairman Xavier de Eizaguirre said the world was noting China's growing importance in the global wine market.
"Forty years ago the US was in a similar position as China in terms of production and China could replicate the US," said de Eizaguirre. "Its growth will trigger joint ventures and foreign investment."
Domestically-produced wine accounts for 90% of wine drunk in China and consumption equates to 1.34 billion bottles or one bottle per year per person, according to International Wine and Spirits Research.
Although Stewart Blunt, wine analyst at Nielsen, said it was "inevitable" that China would overtake Australia in terms of production, he said the UK would not necessarily be a target market and China's exports would remain low. Last year, only 4,000 cases of Chinese wine were sold in the UK the overall market comprised 98 million cases [Nielsen].
However, de Eizaguirre said that Chinese wine could "potentially" be accepted in Europe. "It will take time but drinking Chinese wine at a French dinner table could happen," he said.
Bernard Hickin, head winemaker at Australian brand Jacob's Creek, agreed that emerging markets such as China were developing their expertise in winemaking but denied that it would be at the expense of Aussie wine.
"The nice thing about China is they have their own viticulture industry," he said. "Unlike India, wine is much more accepted in the culture."
The Vinexpo findings also revealed that the UK drank 1.1% more wine in 2010 than in 2009.
However, de Eizaguirre said the overall quality of wine that Britons were drinking was sliding. "Supermarket deals are pushing consumers to drink more in the UK," he said. "It is a very efficient market. But I am not sure whether these promotions are helping quality."
France remains the world's biggest producer, followed by Italy and Spain.