June 5, 2024 – The U.S. economy more than held its own, growing by 2.5% in 2023, on the back of an increase of 1.9% in 2022. American households continue to spend, fueling the main engine of the US economy. In the first quarter of 2024, economic growth rose by 0.4%, driven by household consumption and private and industrial investments. The growth forecast for 2024 is +2.7%.
In 2023, the United States regained its position as the world’s leading market by value
After an exceptional year in 2021, marked by a 26% increase in volume and a 54% increase in value following the end of the lockdown, exports to the USA have stabilized to a more typical pace. The shipment volume shows medium-term growth with a 14% increase compared to the five-year average. Additionally, shipments grew by 6.7% in 2023 compared to 2022:
- Petit Chablis and Chablis experienced an 11% increase, with almost 2.5 million 75 cl bottles in 2023 compared to 2022
- There was a 10% drop for Chablis Premier Cru and Chablis Grand Cru compared to 2022, which translates to nearly 515,000 75 cl bottles sold in 2023. Revenue generated in 2023 continues to progress with a 19% increase compared to 2022:
- Petit Chablis and Chablis achieved a 23% increase, with sales of almost 28 million euros,
- Chablis Premier Cru and Chablis Grand Cru sales rose by 6% to nearly 8.7 million euros.
Thanks to these results, the American market has become, for the second time since 2021, the leading market by value for Chablis wines.
Chablis wines account for a steadily growing share of all shipments from Bourgogne
White Bourgogne wines represented 63% of all bottles from the region shipped to the USA in 2023 and represented one-third of the volumes of French AOC white wines exported.
Despite historical challenges related to the use of their name by lower-quality local products, the proportion of Chablis wines in the overall Bourgogne wine offer remains lower compared to other markets. However, this situation is changing: Chablis wines accounted for 26% of Bourgogne white wine sales in 2023 and over 16% of total sales volume across all wine types.
More regular consumers, but also older
In 2023, 87 million Americans regularly consumed wine, at least once a month, comprising 35% of the adult population in the USA. Among them, 73% enjoyed wine weekly. According to Wine Intelligence, both the number of regular consumers and weekly wine consumers increased between 2018 and 2023 by 4.9% and 3.6% respectively.
This demographic of regular wine consumers is aging, with 43% of them over 55 years old, compared to 38% in 2019. Meanwhile, those under 39 years old represented 23% of regular wine drinkers in 2023, down from 29% in 2019. While less concerned about flavors or food pairings, they are motivated by fashion & wine, individual pleasure, or the idea that wine makes them unique.
Based on a survey of 4,000 regular consumers by Wine Intelligence, the preferred alcoholic beverage is red wine, followed by white wine and beer, respectively. Although this ranking remained consistent between 2019 and 2023, interest in the top two beverages declined among respondents. The only drinks among the top 15 to gain interest were rosé wines, cocktails, and strong spirits.
The “Supermarket” remains the primary distribution channel for wine purchases in the United States, followed closely by “liquor stores.” Notably, “Superstores” and “Wine shops” saw increased patronage, with 38% and 27% respectively reporting purchases in the last 6 months.
Wine consumption in restaurants and bars increased in 2023 compared to pre-pandemic levels in 2019. Regular consumers aged 27-42 years are the most frequent purchasers, slightly ahead of those aged 43-58 years.
Economic report written by the Markets and Development Unit – BIVB – May 2024
(Sources: Douane DEB&EMEBI+DAU – MIBD Market – Wine Intelligence – BIVB)
