(CNNMoney) - America's wine industry is basking in the glow of becoming China's new best friend.

Wealthy individuals, middle-class wine lovers and professional investors from China are snapping up Californian vintages and hunting for vineyards, dealers say.

Some top vintages have seen their prices double in three years.

But the growing love affair could be fueling a frothy market, driving prices to unsustainable levels and setting the industry up for a fall if it sours.

In recent years China has proven itself to be the most powerful -- and most fickle -- force in the global wine investment market.
 Wine drinking in China is still a relatively new habit, but the industry is seduced by the size of the opportunity as the country's population of around 1.4 billion grows steadily richer and looks to spend that money on Western luxury goods.

Exports from California, America's largest wine producing region, jumped 20% in 2012 on a year earlier. China is now the state's fifth largest export market for wine.

Linsey Gallagher of the Wine Institute -- a trade group -- says the flavor of Californian wine suits Asian cuisine. And the state's positive image in China is also driving uptake.

"Even in remote parts of China, people know about Governor Arnold Schwarzenegger, Baywatch, the Golden Gate bridge, and it's always a positive association," she said.