Prosecco production in Italy is set to expand five times over, it has been revealed.

Data revealed at Hong Kong's Wine Future conference this week suggests Prosecco production will increase from the 220 million bottles annual output currently seen to more than one billion a year by 2035.

Gianluca Bisol, managing director of the leading Prosecco estate of the same name, told Decanter that the Prosecco-producing regions of Veneto and Friuli will need to invest around €1.8bn (£1.5bn) to pay for this expansion.

He also noted that expansion is already underway, explaining: "There are enough vines in the ground for 400m bottles and they will come on stream in 2013."

Prosecco could be attempting to wrestle market share away from Champagne.

Top Champagne producer Carol Duval-Leroy, warned this week that raising prices for the region's sparkling wines is "collective suicide", which will encourage consumers to turn towards Prosecco.