With 2014's production forecasted to reach more than 46 million hectolitres, the home of the Burgundy, Bordeaux and Chardonnay would beat both Italy and Spain to the throne.
Italy is expected to produce just 44.2 million hectolitres this year, down sharply from the 52.4 million last year due to an unusually wet and cold summer.
Spain's output is expected to reach 37 million hectolitres this year compared to 45.6 million in 2013.
New World wine production meanwhile is expected to hold steady in the United States, reaching 22 million hectolitres while Chile is due to produce 10 million.