Global Cognac and Brandy Market Report and Forecast 2024-2032

Global Cognac and Brandy Market Outlook

The global cognac and brandy market size reached a value of USD 30.50 billion in 2023. The market is further projected to grow at a CAGR of 5.7% during 2024-2032 to reach a value of USD 50.23 billion in 2032.

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Expanding Millennial Population, Growing Social Acceptance, Awareness of Health Benefits, and Introduction of New Flavours to be the Key Trends in the Cognac and Brandy Market 

Cognac is a type of brandy that is prepared by distilling white wine grapes from Charente and Charente-Maritime departments, using copper pots and is stored in French oak barrels for ageing to obtain a better-quality product. Cognac is made from different white grapes, such as Ugni Blanc, Folle Blanche, and Colombard. Brandy is an alcoholic beverage produced by distilling wine or fermented fruit mash. Brandy is usually offered as after-dinner drinks. Also, they are utilised to flavour dessert dishes and mixed drinks.

• The expanding population of millennials and inclination towards modernised culture are leading to the growing acceptance of cognac and brandies in social communities, which is resulting in its rising consumption in gatherings, such as parties and celebrations.

• The growing awareness about the health benefits of cognac and brandy, such as improved cardiac health, reduced risk of type 2 diabetes or bad cholesterol, and improved immune health, is leading to its increased consumption by the population.

• The cognac and brandy market key trends include the introduction of new flavours, such as blueberry, strawberry, peach, and lemon, to meet the evolving tastes and preferences of new and experimental consumers.

• The market players are taking initiatives in using superior and natural ingredients to produce high-end products. In February 2022, Bacardi India introduced its premium brandy, Good Man, prepared by combining French and Indian grape brandies, aged for two years in oak casks. The company aims to meet the demands for an enhanced drinking experience among its domestic customer bases.

Cognac and Brandy Market Analysis 

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The market can be bifurcated based on product type into cognac and brandy. Cognac is further divided into very special, very special old pale, and extra old. Brandy is further segmented into pisco, American brandy, and Spanish brandy, among others. The different distribution channels are on-trade and off-trade. The major regional markets are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. 

The comprehensive EMR report offers an extensive assessment of the market on the basis of Porter's five forces model, along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the market, covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.   

• Radico Khaitan Limited

• Emperador Distillers, Inc.

• Naud Spirits & Distillery

• Pernod Ricard S.A.

• Jas Hennessy & Co.

• Others

Increasing Consumption of Cognac to Aid the Cognac and Brandy Market

There is a surge in the consumption of cognac due to its production from superior-quality grapes and its smooth and soft characteristics. The availability of different types or grades of cognac is also resulting in the market development. 

The very special cognac is two years old and is primarily used for developing cocktails, long drinks, and mixed drinks, as they offer a fresher aroma of fruits. Very special old pale cognac is aged for a minimum of four years and is smoother in texture. They are utilised for ice and cooking purposes. Extra old cognac is stored in oak barrels for at least 10 years. The extra old cognac is made rich with warm spice, chocolate, nuts, and dried fruits, and is paired with food.

Also, there is rising consumption of brandies in moderation as it offers multiple health benefits, such as reduced inflammation in arteries, improved cardiovascular health, relieving respiratory issues, and helping tackle sleep issues, among others. The market players are making strong efforts to deliver unique flavoured and superior-quality brandies, which is expected to further stimulate the market growth.

Europe is Expected to Hold a Substantial Share in the Cognac and Brandy Market 

There is an increased production of high-quality brandies in the regions of Cognac, Armagnac, and Calvados in Northern France, owing to the presence of apple and pear orchards. Also, there are strong traditions of brandy distillation in European countries, such as Spain and Italy. 

The stringent quality standards in France, such as the distillation of cognac only from white grapes and the need to be produced in the Cognac region, are likely to help maintain the reputation of cognac as a distinct style of brandy. Also, the rising demand for cognac and brandy can be attributed to the improved living standards and the flourishing tourism or hospitality sector in the European region.

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Competitive Landscape 

Radico Khaitan Ltd is an India-based company founded in 1943. The company is a major bulk supplier of Indian Made Foreign Liquor and has brands, namely 8 PM Whisky, Magic Moments Vodka, Contessa XXX Rum and Old Admiral Brandy. Radico is a transparent organisation that meets corporate governance standards.

Emperadors Distillers Inc. is a Philippines-based company founded in 1990. The company delivers high-quality distilled spirits and other alcoholic beverages in the Philippines and across Europe. It offers brands, such as Emperador LightSmirnoff Mule, The Bar, The Dalmore and others.

Naud Spirits & Distillery is a French-based distillery that uses precise art of distillation, such as copper pot stills and other traditional methods, to deliver superior cognac and brandies.

Other cognac and brandy market players include Pernod Ricard S.A., and Jas Hennessy & Co., among others.

Key Highlights of the Report