Chardonnay Market Size, Share, Industry, Forecast and outlook (2024-2031)

Chardonnay Market Overview

The global chardonnay market reached US$ XX million in 2022 and is projected to witness lucrative growth by reaching up to US$ XX million by 2030. The market is growing at a CAGR of 7.12% during the forecast period (2023-2030).

Chardonnay has its origin in Eastern France in the Burgundy region and it is used in the making of white wine. It is the world’s most popular and important green-skinned grape variety for producing white wine as well as a dessert wine, champagne, and sparkling wine. Chardonnay is also one of the most widely planted grape varieties in the world. It has the capability to grow in a variety of soils and climates, but soils with high concentrations of chalk, clay, and limestone give improved yields for the production of these grapes.

Chardonnay Market Summary and Scope

Chardonnay Market Dynamics and Trends

The high shelf life of white wine surges the demand

The main reason behind the chardonnay market growth is the highest shelf of white wine produced from chardonnay as it is used after a few years with the same pleasant taste and aroma. A wide range of chardonnay can be produced globally, generally in cooler and warmer climates. This seasonal chardonnay offers several unique flavors. Pineapple, yellow apple, and meyer lemon are a few popular flavors of chardonnay that are preferred in a warmer climate. In contrast, green apple, cement rock, lime, and lemon are the most common flavors preferred in cool weather. Additionally, increased celebrations and dinner parties and high disposable incomes led to a surge in the consumption of white wine among the population. These are the key factors fueling the growth of the global market for chardonnay. The key manufacturers are also launching new products, which are expected to drive market growth. For instance, on August 2, 2021, 7-Eleven released a new on-the-go wine for the summer. Plot and Point wine comes in chardonnay and pinot grigio and is packaged in a Tetra Pak container with a screw cap, making it easy to pack and sip, the convenience-store chain said.

The rising consumption of wine due to the emerging trends of social drinking is driving the market 

Introducing sustainable white wines produced without pesticides, herbicides, and chemical fertilizers that aim to reduce waste and improve soil, air, and water quality positively influences the market growth. Other factors, such as rising consumer spending power, easy product availability across various e-commerce platforms, the introduction of new flavors, and increased product utilization for skin improvement, are expected to drive market growth. The key manufacturers are also launching new products, which are expected to drive market growth. For instance, on May 20, 2022, Diablo launched its first white wine. At the enological level, Golden Chardonnay shows a golden-yellow color, dazzling from the beginning for its remarkable aromatic expression. It is a seductive wine with notes of passion fruit and mango. This wine is versatile, especially recommended to pair with oily fish, seafood, and pasta with creamy sauces.

The gradual shift of consumers toward other alcoholic beverages may hamper the market

The growing modernization and rise in alcohol consumption are ongoing trends across the globe, which has nudged the alcohol industry's producers to launch innovative and bold variants of alcoholic beverages. The gradual shift of consumers towards various alcoholic beverages such as liqueurs, spirits, beer, and others is due to their availability at economic prices. According to American Addiction Centers (AAC), the majority of alcohol consumed every year around the world is beer, lagers, and cider, i.e., approximately 400 billion liters. In 2018, the market share of beer consumption in the U.S. was 45.5%, liquor was 37.3%, and the least share was of this product, 17.2%. Thus, shifting toward other alcoholic drinks will dampen market growth in the upcoming years. 

Chardonnay Market Segment Analysis

The global chardonnay market is segmented based on type, flavor, distribution channel, and region.

Health benefits and luxurious appeal associated with lemon flavor to hold the largest market share

The lemon segment held a significant market share in the global market. In white wine, different flavors have been consumed for many centuries, and are still a popular drink that is globally trending. This drink’s flavors are known to have several health-beneficial properties, such as antioxidants. Various in-vitro studies have proved that regularly consuming wine in a restricted amount may help improve consumers’ lifestyles. Along with this, it also has a luxurious appeal and is widely available to consumers. Chardonnay provides a buttery and rich flavor and can help increase blood flow, improve bone density, boost good High-density lipoprotein (HDL) cholesterol, and prevent clotting. It potentially reduces the risk of stroke or heart disease as well. As a result of combining both health-beneficial properties and great taste, flavors in wine have emerged as a dominant segment and are expected to flourish even more in the coming years. The key manufacturers are also launching new products, driving the market's growth. For instance, on April 13, 2021, Accolade Wines launched a Chardonnay wine, available at Asda and Morrisons. The new chardonnay will appeal to our loyal customers, who we know are open to trying new flavors, while also attracting a new audience to try Jam Shed for the first time.

Source: DataM Intelligence Analysis (2023)

Chardonnay Market Geographical Share

Europe held highest market revenue share in the year 2022

Europe is expected to have the highest growth shortly due to high disposable income among consumers and increased demand for wine. Europe, especially France, is the major market for Chardonnay. The Burgundy region is particularly famous for its chardonnay wines, which are known for their rich, buttery flavor and complexity. According to the International Organization of Vine and Wine (OIV), in 2020, the European Union accounted for 48% of the world's product consumption, with an estimated drink volume of about 112 mhl. France remains a major consumer, with a consumption volume of 24.7 mhl in 2020, although the per capita consumption has declined over the past few years. Italy is the second largest market within the EU, with a consumption of 24.5 mhl, a 7.5% increase compared to 2019, according to the OIV. The growing popularity of this product is associated with the increasing acceptance of low-ABV beverages among the young working population in their hectic daily schedules. Thus, the demand is encouraging manufacturers to introduce new and innovative products.

Source: DataM Intelligence Analysis (2023)

Chardonnay Market Companies & Competitive Analysis

The major global players in the market include SCHUG CARNEROS ESTATE WINERY, Iceland Foods Ltd., Terra Savia Wines, Royal Wine Corporation, Crystallum Wines, Bonterra Organic Vineyards, Scarecrow Wine, Beringer Vineyards, KENDALL-JACKSON, SANTA ROSA, CA and Josh Cellars.

Key Developments

• On January 19, 2022,  JaM Cellars, the maker of Butter Chardonnay, announced the expansion of its popular Butter brand with the launch of two new wines—Butter Cab, California, and Butter Bubbles, California. A bottle of Butter Chardonnay is sold on average every 3.3 seconds and continues to be the #2 best-selling chardonnay priced at $12 or more in the U.S. Butter Cab. Butter Bubbles are the first varietal extensions to the Butter line since Butter Chardonnay launched over a decade ago.
• On January 19, 2023, 19 Crimes announced the launch of Martha’s Lighter Chardonnay, an 8.5% ABV Chardonnay that clocks in at 80 calories per glass, according to the brand.
• On December 4, 2020, Grover’s Zampa Vineyards launched Grover Chêne Grande Reserve Chardonnay wine. It is a kind of wine extracted from the highest-quality Chardonnay grapes and aged for at least nine years in French oak barrels. Adding a mountain of creamy texture along with toasty flavors embedded with hints of vanilla, this comes to be the most efficacious representative of Indian wine ranges.

Why Purchase the Report?

• To visualize the global chardonnay market segmentation based on type, flavor, distribution channel and region, as well as understand key commercial assets and players.
• Identify commercial opportunities in the market by analyzing trends and co-development. 
• Excel data sheet with numerous data points of chardonnay market-level with all segments.
• PDF report consisting of cogently put-together market analysis after exhaustive qualitative interviews and in-depth market study.
• Product mapping available as excel consisting of key products of all the major market players.

The global chardonnay market report would provide approximately 53 tables, 54 figures, and 195 Pages.

Target Audience 2023

• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies

Suggestions for Related Report

• Global Wine Market
• Global Wine Coolers Market
• Global Wine Barrel Market