Moët Hennessy’s Estates & Wines division is targeting a renaissance for its Newton Vineyard winery in the Napa Valley, focused on boosting the quality of its Cabernet Sauvignon Unfiltered ($60).
The U.S. wine market is expected to continue its long-term growth streak in 2014, albeit at a modest 0.3% projected increase to 322 million nine-liter cases. The market is expected to add just over 1 million cases this calendar year, according to the current edition of The U.S. Wine Market: Impact Databank Review and Forecast. Last year, the U.S. became the number-one wine-consuming nation in the world for the first time ever, surpassing France.
Although Cognac has lost a little steam in the U.S. lately—decelerating from 2.8% volume growth in 2012 to a 1.9% advance last year, according to Impact Databank—category leader Hennessy has managed to stay ahead of the curve. In 2012, Hennessy was up 3.5% in the U.S., and last year the brand tacked on a 4.5% gain, reaching more than 2.3 million cases. Hennessy’s progress has extended into 2014, with Moët Hennessy recently reporting that the flagship Cognac showed “excellent momentum in the United States” over the past nine months through September.
New Zealand wine exports rose 3% by value in the year through June, to NZ$1.2 billion ($1b), even as volume fell 5% to 170 million liters, according to the New Zealand Winegrowers trade group. The value increase was driven largely by the U.S., which contributed 13% growth to NZ$284 million ($242m) on a volume rise of 10% to 43.4 million liters.