Cognac Market size from 2022-2027 to grow by USD 897.31 million| The rising awareness of the health benefits of cognac drives market growth - Technavio
NEW YORK, Sept. 4, 2023 /PRNewswire/ --
Cognac Market forecast by Technavio:
- Market Size Growth– USD 897.31 million
- CAGR - 3.64%
The Cognac market is driven by the increasing awareness of the potential health benefits offered by cognac, including, reducing the risk of type 2 diabetes and unhealthy cholesterol levels and contributing to overall cardiac well-being. The trend towards modernization is promoting wider acceptance of cognac across diverse social gatherings, including parties. Moreover, moderate consumption of cognac can yield certain health advantages, such as reducing the risk of blood clot formation and increasing levels of antioxidants that are conducive to reducing the chances of blocked arteries, cancer, and vision impairment. The presence of fermented fruit mash in cognac also aids in the absorption of other beneficial antioxidants. The cognac market is driven by numerous health benefits. Technavio's comprehensive report provides statistical information on the cognac market in various regions. Download the sample report now
Trend – Increase in personal consumption of alcoholic beverages is a key trend in the cognac market.
Challenge - The growing competition from other alcoholic beverages is a major challenge faced by the cognac market.
The Cognac Market is segmented as:
- Distribution channel – Off-trade and on trade
- Product - VS, VSOP, and XO
- Geography - North America, APAC, Europe, South America, and Middle East and Africa
The Cognac market share growth by the off-trade segment will be prominent during the forecast period. The retail outlets like hypermarkets, supermarkets, convenience stores, mini markets, kiosks, wines, and spirits shops are included in the off-trade market. In 2022, the majority of the market share is held by the off-trade, and distribution channels in terms of revenue and convenience stores account for more than any other segment.
VS cognacs, also referred to as 3 stars or luxury, are crafted from Eaux-de-vie aged for a minimum of 2 years. Some of the top-rated brands of VS Cognac are Hennessey VS, Martell VS, and Courvoisier VS.
For a detailed analysis of the cognac market segmentation, get the sample report here
The Cognac Market's major companies:
- Bacardi Ltd.
- Branded Spirits Ltd.
- CAMUS LA GRANDE MARQUE SAS
- Cognac Meukow
- Delord Freres SA
- KELT International SARL
- Louis Royer SA
- LVMH Moet Hennessy Louis Vuitton SE
- Maison Delamain
- MAISON FERRAND
- Pernod Ricard SA
- Remy Cointreau SA
- Suntory Holdings Ltd.
- Thomas HINE and Co.
- Zino Davidoff SA
To find out the competitive analysis of the companies mentioned above, buy the full report here
Related reports:
Premium Spirit Market: The premium spirit market size is projected to increase by USD 49.85 billion and the market size is estimated to grow at a CAGR of 6.32% between 2022 and 2027.
Wine and Spirits Market: The wine and spirits market size is projected to increase by USD 195.96 billion and the market size is estimated to grow at a CAGR of 3.32% between 2022 and 2027.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Product
6 Market Segmentation by Distribution channel
7 Customer landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Vendor Landscape
11 Vendor Analysis
12 Appendix
About US
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contact
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com
SOURCE Technavio
Share this article