$ 303.59 Million Growth in Cognac Market During 2021-2025 | Featuring Key Vendors Including Beam Suntory Inc., Branded Spirits Ltd., and Chateau de Cognac. | Technavio

NEW YORK, March 26, 2021 /PRNewswire/ --

Technavio announces the release of its latest report on the cognac market. The market is segmented by product (VS, VSOP, and XO), distribution channel (off trade and on trade), and geography (North America, APAC, Europe, South America, and MEA). The report offers an in-depth analysis of recent developments, changes in market regulations, product approvals, product launches, and the market behavior across various segments.

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Cognac Market: Key Findings

• Cognac market value to grow by USD 303.59 million at about 2% CAGR during 2021-2025
• Based on the product, the VS segment will offer maximum opportunities for vendors during the forecast period
• Based on the Geography, North America dominated the market with a 44% share in 2020
• Cognac market is expected to have a positive impact due to the spread of COVID-19

Cognac Market: Growth Drivers

New product launches by vendors is one of the prime factors driving the growth of the market. Vendors are focused on introducing new product launches to attract new customers, expand their presence, and gain a competitive edge in the market. This has increased the availability of products for end-users, which driving the growth of the market.

"Emergence of online distribution platforms will further boost market growth during the forecast period", says a senior analyst at Technavio.

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Cognac Market: Major Vendors

Beam Suntory Inc.

Beam Suntory Inc. operates its business through segments such as Whiskey, Tequila, and Others. The company offers cognac under the name Courvoisie that has stood the test of time for more than 200 years by staying true to its code of dedication, respect, and tradition.

Branded Spirits Ltd.

Branded Spirits Ltd. operates its business through the Unified segment. The company offers cognac such as Majeste XO and VSOP that is aged in Limousin oak casks for at over 10 years, while minimum XO aging is only 6 years.

Chateau de Cognac.

Chateau de Cognac. operates its business through the Unified segment. The company offers cognac such as Hennessy VS, Hennessy VS gold, hennessy black, Hennessy classivm and others.

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About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides 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 consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. 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.

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Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
Report: www.technavio.com/report/cognac-market-industry-analysis

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SOURCE Technavio