Global Chardonnay Market - 2023-2030

Global Chardonnay Market - 2023-2030

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 is made from green-skinned grapes that adapt to various climates and produce versatile wines at many price points. Chardonnay can be crisp and clean or rich and oaky. Chardonnay is known as a winemaker’s grape because it can grow in many climates, and it’s easy to work with in the cellar. It allows a winemaker creative license to make it light and elegant or full-bodied and buttery. Chardonnay can taste different, depending on where it grows and how it’s made. But typically, Chardonnay is a dry, medium- to full-bodied wine with moderate acidity and alcohol. Its flavors range from apple and lemon to papaya and pineapple, and it also shows notes of vanilla when it’s aged with oak.

Market Dynamics
The rising consumption of wine due to the emerging trends of social drinking is driving the market
The rising consumption of wine due to the emerging trends of social drinking globally is one of the primary factors driving the market growth. White wine is a popular alcoholic beverage used during celebrations, social gatherings, romantic dates, weddings, receptions, bridal showers, anniversaries, and retirement parties. In addition, the increasing product utilization in dietary culture as an aperitif during meals, between meals, and with desserts is another growth-inducing factor. The widespread product demand can also be attributed to the rising consumer awareness regarding its various health benefits, such as improved cardiovascular functions, increased metabolism, healthy lungs, boosted cognitive health, controlled glucose levels, and reduced risk of diabetes and cancer, driving the demand. The key manufacturers are also launching new products, driving the market's growth. For instance, on October 31, 2022, B.Ink, the new wine brand from Accolade Wines, expanded its collection of vibrant, fruity, contemporary wines with the launch of Rosé and Chardonnay editions. Chardonnay is the third largest type of white wine in the UK, worth £467m, and makes up over a third of B.Ink’s target consumers spend on white wine.

Rising awareness of white wine health benefits is driving the market
The antioxidants in white wine can help protect your heart and lungs, maintain blood sugar, prevent aging, fight off colds, and improve brain function. Antioxidant properties may help lower the risk of multiple diseases, such as cancer and heart disease. Chardonnay is so popular that it is nearly synonymous with white wine. Consumers feel comfortable with it. It is ubiquitous and can be easy to take for granted. White wine contains relaxing substances that help to calm the nerves. If you cannot sleep at night, drink a glass of white wine to promote good sleep. White wine also relaxes and calms the mind when sleeping at night. Drinking white wine benefits bone health, as it contains all the minerals that strengthen the bones. It also promotes bone density and strength and reduces the risk of osteoporosis, which drives growth. The key manufacturers are also launching new products, driving the market's growth. On March 29, 2022, Iconic Brands, Inc. announced that it had launched Bellissima Zero, a new line of zero-sugar still wines. Bellissima Zero is available in five expressions: Pinot Grigio IGT, Chardonnay IGT, Rosé Wine, Merlot IGT, and Cabernet Sauvignon IGT. Bellissima Zero has zero sugar, a serving size of approximately 1 gram of carbs per 5 ounces, is made with organic grapes, and is certified vegan. Bellissima’s Zero is boutique winery quality, with no residual sugar and no compromises on taste.

COVID-19 Impact Analysis
The COVID-19 Analysis includes Pre-COVID Scenario, COVID Scenario and Post-COVID Scenario along with Pricing Dynamics (Including pricing change during and post-pandemic comparing it with pre-COVID scenarios), Demand-Supply Spectrum (Shift in demand and supply owing to trading restrictions, lockdown, and subsequent issues), Government Initiatives (Initiatives to revive market, sector or Industry by Government Bodies) and Manufacturers Strategic Initiatives (What manufacturers did to mitigate the COVID issues will be covered here).

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

The rapid emergence of modern retail has resulted in higher revenue generation through the direct sales segment
Direct sales is one of the most efficient sales to deliver the product into the market. The direct sales consist of supermarkets, convenience stores, and specialty stores. Offering product variety at lower prices compared to pubs, bars, and other on-trade channels have increased the popularity of retail counters worldwide. Investors are intensively focusing on the development of modern trades and convenient retail points to offer easy shopping at affordable prices, attracting high revenue to the market. On the other side, the rising adoption of different drinking practices has resulted in dine-out trends among consumers. The rising westernization and cross-culture trends worldwide are expected to promote the popularity of on-trade channels shortly. The retailers are also launching new stores, which are expected to drive growth. For instance, on June 13, 2022, Fresh Vine Wine, Inc., the premier producer of lower carb, lower sugar, and lower calorie premium wines in the United States, reported having achieved another milestone in its retail growth strategy with over 200 of Total Wine & More's nationwide stores now stocking its Cabernet Sauvignon and Chardonnay varietals.

Geographical Analysis
Rising demand for white wine in Europe
The growing demand for white wine is propelling the European region market forward. Although red wine is preferred in most places, the preference for white wine is rising in European countries. The trend of wine consumption at home is driving the demand further, which is supported by the fact that Europeans frequently prefer to have wine with their meals. For instance, according to HM Revenue and Customs, in the United Kingdom in 2021, 13.9 million hectoliters of wine were released for consumption by HM Revenue and Customs, which increased from 13.7 million hectoliters in 2020. The sales of organic white wine can be seen growing in the region, owing to its benefits. White wine is known to help in weight loss and can also help in maintaining a healthy heart, keeping a person away from heart diseases. While many countries in the region demand white wine abundantly, the demand is certainly higher in Poland. For instance, according to Krajowy Ośrodek Wsparcia Rolnictwa, in the 2020–2021 season, the country produced 9398.38 hectoliters of white wine, an increase of about 800 hectoliters compared to the previous season.

Competitive Landscape
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.

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 by analyzing trends and co-development.
• Excel data sheet with numerous data points of chardonnay market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as excel consisting of key products of all the major players.

The global chardonnay market report would provide approximately 93 tables, 109 figures and 195 Pages.

Target Audience 2023
• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
•Emerging Companies