According to IMARC Group’s latest report, titled “Cognac Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, the global market exhibited moderate growth during 2015-2020. Cognac is an alcoholic beverage produced by the distillation and aging of white wines. It is distilled twice in copper pots and aged in French oak barrels for a minimum of two years. Cognac is made from a variety of grapes known as Ugni Blanc, Folle Blanche, and Colombard in the Cognac region of France. Cognac offers a more fruitful flavor than whiskey, obtaining its distinctive dark caramel color from the aging in oak barrels and by adding coloring agent.
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The global cognac market is primarily driven by the increasing consumption of premium alcoholic drinks, especially among the millennial population. Premium liquor is infused with high-quality ingredients subjected to exhaustive distillation processes and are popular for their fine-tuned viscosity and texture. Cognac is an excellent source of antioxidants and aid in asthma management, stress reduction, diabetes prevention and cardiovascular and bone health improvement, if consumed in moderation. Besides this, the growing appetite for brandy-based cocktails on account of the increasing disposable incomes and improving lifestyle choices of individuals have escalated the demand for cognac. Moreover, the introduction of cognac with different flavors such as vine flowers, toasted bread, vanilla, cinnamon, candied fruits, toffee, spices, and chocolate, is expected to provide a positive thrust to the market growth. Looking forward, IMARC Group expects the global cognac market to grow at a CAGR of around 4% during the forecast period (2021-2026).
As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviors of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
Competitive Landscape with Key Players:
- Camus Cognac
- Courvoisier S.A.S.
- KELT International
- LVMH Moët Hennessy Louis Vuitton
- Maison Delamain
- Maison Ferrand
- Meukow Co
- Pernod Ricard
- Remy Cointreau
- Thomas HINE & Co. (EDV SAS).
Market Segmentation:
Breakup by Grade Type:
- VS (Very Special)
- VSOP (Very Special Old Pale)
- XO (Extra Old)
- Others
Breakup by Distribution Channel:
- Supermarkets and Hypermarkets
- Convenience Stores
- Liquor Stores
- Online Stores
- Others
Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Others)
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Key highlights of the report:
- Market Performance (2015-2020)
- Market Outlook (2021-2026)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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