Overview and Scope
Cognac and brandy refer to distilled spirit, which can be of any form of fruit juice, but cognac is a specific type of distilled fruit juice with many characteristics. Brandy is well-known for its capacity to delay the effects of aging, regulate weight, and treat respiratory ailments. Cognac is good in a variety of drinks, makes an excellent sauce for steak and veal meals, and gives a rich flavor to desserts.
Sizing and Forecast
The cognac and brandy market size has grown strongly in recent years. It will grow from $14.17 billion in 2023 to $14.97 billion in 2024 at a compound annual growth rate (CAGR) of 5.6%. The growth in the historic period can be attributed to tradition and heritage, globalization of consumer palates, luxury and status symbol, cultural and social significance, rise of mixology.
The cognac and brandy market size is expected to see strong growth in the next few years. It will grow to $18.58 billion in 2028 at a compound annual growth rate (CAGR) of 5.6%. The growth in the forecast period can be attributed to premiumization trend, emerging market growth, e-commerce and online retailing, rise of craft and artisanal production, cultural influences on flavor profiles. Major trends in the forecast period include innovations in packaging, flavor experimentation and infusions, interactive brand experiences, heritage and terroir focus, collaborations with mixologists and chefs.
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Segmentation & Regional Insights
The cognac and brandy market covered in this report is segmented –
1) By Product: Cognac, Armagnac, Spanish Brandy, Pisco
2) By Price: Value, Premium, High-End Premium, Super Premium
3) By Application: Household, Commercial
4) By Distribution Channel: On Trade, Off Trade
North America was the largest region in the cognac and brandy market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the cognac and brandy market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
Rising demand for craft beverages is expected to propel the growth of the cognac and brandy market going forward. Craft beverages refer to tiny, traditionally manufactured, and independently created brews. Cognac and brandy are used in craft beverages to slow the signs of aging, regulate weight, and cure respiratory difficulties. Moderate consumption of brandy has been shown to help with sleep difficulties and improve sleep patterns. Brandy can also improve heart health and keep the heart working properly. For instance, in April 2021, according to the report by the Brewers Association, a US-based national organization that promotes and protects small brewers, the total number of active craft brewers in the US reached an all-time high of 8,764 in 2021, which included 1,854 microbreweries, 3,219 brewpubs, 3,471 taproom breweries, and 220 regional craft breweries. Therefore, the rising demand for craft beverages is driving the growth of the cognac and brandy market.
Key Industry Players
Major companies operating in the cognac and brandy market report are Hennessy LVMH, Diageo Plc., Suntory Holdings Limited, Pernod Ricard SA, E & J Gallo Winery, Beam Suntory Inc., Campari Group, Remy Martin XO, United Spirits Limited, Emperador Distillers Inc., Martell and Company SA, Radico Khaitan Limited, Tilaknagar Industries Ltd., Miguel Torres SA, Korbel Winery, Copper and Kings, Courvoisier SAS, Louis Royer SAS, Asbach GmbH, Global Spirits, Camus Cognac, Naud Spirits & Distillery, Meukow Cognac, Thomas Hine & Co, Paul Masson, Christian Brothers, Branded Spirits Limited, Delamain Cognac, A. de Fussigny, J.P. Chenet
The cognac and brandy market report table of contents includes:
1. Executive Summary
2. Cognac And Brandy Market Characteristics
3. Cognac And Brandy Market Trends And Strategies
4. Cognac And Brandy Market – Macro Economic Scenario
5. Global Cognac And Brandy Market Size and Growth
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31. Cognac And Brandy Market Other Major And Innovative Companies
32. Global Cognac And Brandy Market Competitive Benchmarking
33. Global Cognac And Brandy Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Cognac And Brandy Market
35. Cognac And Brandy Market Future Outlook and Potential Analysis
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