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Brandy & Cognac Market Analysis
- Report ID: GMI6378
- Published Date: Aug 2023
- Report Format: PDF
Brandy & Cognac Market Analysis
The very special product size dominated around USD 4.9 billion in 2022. VS brandies and cognacs have a milder flavor profile, making them appealing to consumers new to brandy or those seeking a smoother taste. VS products are often more affordable than higher-age expressions, attracting budget-conscious consumers.
| Report Attribute | Details |
|---|---|
| Base Year: | 2022 |
| Brandy & Cognac Market Size in 2022: | USD 12.3 Billion |
| Forecast Period: | 2023 to 2032 |
| Forecast Period 2023 to 2032 CAGR: | 5.3% |
| 2032 Value Projection: | USD 20.6 Billion |
| Historical Data for: | 2018 to 2022 |
| No. of Pages: | 200 |
| Tables, Charts & Figures: | 247 |
| Segments covered: | Product Type, Age, Price Level, Distribution Channel, Regional |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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The young cognac segment held approximately 55% share of the brandy & cognac market in 2022 and is poised to observe lucrative pace by 2032. Young brandies and cognacs are more budget-friendly, attracting consumers who are new to the spirits or seeking more affordable options. The lighter and more versatile profile of young brandies makes them ideal for use in cocktails and mixed drinks.
Based on price level, the premium segment acquired a major market share in 2022 and is estimated to register 4.7% CAGR through 2032. Premium brandies and cognacs are known for their complex and refined flavor profiles, attracting consumers seeking a more sophisticated tasting experience. Thus, the high-quality services and growing number of brandy & cognac at places are anticipated to expedite the business growth.
The liquor segment of brandy & cognac market is predicted to grow at a commendable pace by 2032. Liquor stores and retail outlets offer a convenient and easily accessible shopping experience for consumers seeking brandy and cognac. These stores typically carry a wide range of brands and expressions, allowing consumers to explore different options and find their preferred choices.
U.S. dominated the North American region with majority market share and a revenue of USD 3.5 billion in 2022. North American consumers are increasingly drawn to premium and sophisticated spirits, seeking higher-quality brandy and cognac options for special occasions and premium drinking experiences.
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Brandy & Cognac Market Scope
