The global cognac consumption is estimated to reach 237 million 0.7 liter bottles in 2023, growing at a CAGR of 2.71% for the period spanning from 2019 to 2023. The factors such as rising premiumization trend, use of cognac as cocktail ingredients, demand for authentic and unique alcoholic brands, increasing millennials population and increasing knowledge about health benefits of cognac are expected to drive the market. However, growth of the industry will be challenged by competitive rivalry and restriction on alcohol advertising. A few notable trends include emergence of online distribution platforms, preference of cognac food, increasing demand for VS and personal consumption growth of alcoholic beverages in emerging countries.
The global cognac market is segmented into Very Special (VS), Very Superior Old Pale (VSOP or Reserve), Napoleon, Extra Old (XO). In the cognac market, VS accounted for the highest share in 2018.
The fastest growing regional market is Americas due to increasing disposable income and rising demand for luxury and premiumization of alcoholic beverages. The U.S. and China are highly established premium markets that contribute to significant shares in the global market. The increasing demand for cognac as a cocktail ingredient and its feature unlike other alcoholic beverages of not promoting headache stimulated the consumption of cognac. Asia represents one of the largest markets for cognac and is already a well-penetrated market.
Scope of the report:
• The report provides a comprehensive analysis of the global cognac market, segmented into Very Special (VS), Very Superior Old Pale (VSOP or Reserve), Napoleon, Extra Old (XO).
• The major regional markets (Americas, Asia, Europe, Africa & Oceania) have been analyzed, along with country coverage of the US and China.
• The market dynamics such as growth drivers, market trends and challenges are analyzed in-depth.
• The competitive landscape of the market, along with the company profiles of leading players (Suntory Holdings Limited, Pernod Ricard, LVMH and Rémy Cointreau ) are also presented in detail.
Key Target Audience:
• Cognac Manufacturers
• Raw Material Suppliers
• End Users
• Consulting Firms
• Investment Banks
• Government Bodies & Regulating Authorities