Cognac Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 - 2028

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Cognac Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 - 2028

Status : May, 2020 | Food and Beverages | PPT format

Report Digest


Global Cognac Market: Overview 

The global cognac market has grown steadily over the years, owing to the enormous demand for alcoholic beverages across the globe. Cognac is one of the types of brandy, which is mainly produced by aging of white wines and also by the double distillation process of wines. The distinct varieties of cognac highly depends on the time taken by the respective brandies for aging. The growth of the global cognac market is majorly fueled by the increasing number of consumers globally, who are actively exploring more luxurious alcoholic beverages. However, cognac offers a wide range of more fruitful flavors as compared to other whiskeys. Such factor is also responsible for driving the global cognac market. 

In terms of distribution channels, the global cognac market is bifurcated into online retailing and store-based retailing. Among these two, the online retailing segment showcases the highest share in the global cognac market on account of the rapid emergence of the online shopping portals across the globe. The report thoroughly explains the key drivers and recent trends in the global cognac market. Furthermore, it also describes the opportunities and headwinds in the market. Along with several other crucial factors related to the market, the report also provides a broad perspective about the competitive landscape of the market. 

Global Cognac Market: Notable Developments 

Some of the recent developments help in contouring the shape of the global cognac market in a big way include: 

  • The Cognac Summit, a well-known organization which is formed through the collaboration between international bartenders and Bureau National Inter Professional du Cognac, has successfully contributed to the revival of the global cognac market. 
  • The companies in the global cognac market is experimenting with the different flavors of cognac in order to enhance its sale globally. 

Some of the most prominent competitors operating in the competitive landscape of global cognac market include –

  • Meukow
  • Pernod Richard
  • Beam Suntory
  • Hennessy

Global Cognac Market: Key Growth Drivers 

A list of few factors responsible for accelerating the growth of the global cognac market in a broad way include: 

Growing Popularity of Cognac as Conventional Cocktail Ingredient Fuels Market’s Growth   

The global cognac market is recently witnessing a revival in the world. The growth of the global cognac market is majorly triggered by the rising popularity of cognac among consumers as a conventional cocktail ingredient. Moreover, unlike several other alcoholic beverages, cognac does not cause a headache. These advantages are also stimulating the growth of the global cognac market. Other microeconomic factors such as rising disposable income of consumers globally and the aspirational mindset, especially of the middle class population are booting the concept of premiumization, which in turn is also propelling expansion in the global cognac market. Besides this, rising knowledge of consumers about the health benefits of cognac and elevating demand for authentic and unique brands of alcoholic beverages are responsible for the staggering growth of the global cognac market. 

Rising Trend of Consuming Cognac with Food and as Cocktail Mix Fillips Market

A recent trend in cognac consumption along with food and as a cocktail mix is gaining traction in the global cognac market. However, rising demand for VS cognac worldwide is also positively influencing the growth of the global cognac market. Enormous consumers’ demand for cognac has successfully outstripped its production capacity in some of the regions, which indicates the rapid growth of the global cognac market. 

Global Cognac Market: Regional Outlook 

With respect to geography, North America is dominating in the global cognac market as the region has seen rapid growth in the cocktail industry. Along with this, popularity of online distribution channels and rapidly changing consumers’ demographics are also encouraging the growth of the cognac market in this region. 

The segmentation of global cognac market is based on: 

Products 

  • Very Special (VS)
  • Very Superior Old Pale (VSOP)
  • Extra Old (XO)

The study presents a granular assessment and quantitative evaluation of:

  • Key growth factors and prominent trends
  • Size and share of key segments in overall market
  • Key challenges and winning imperatives
  • Factors shaping competitive landscape
  • Insights into how contours of market will change in coming years
  • Technological advances
  • New avenues and imminent investment pockets
  • Regulatory landscape shaping current and future strategies of companies

The region-wise assessment includes market dynamics in:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The study is prepared with the help of an extensive primary and secondary research. Primary research includes but not limited to interactions, interviews, surveys, and events. Opinions of policy makers and industry experts are carefully integrated into the insights to complement primary research. Volumes of secondary data gleaned through renowned paid sources, annual statements, reputed journals, and government documents offer insights into current dynamics and key evolution trajectories the market is likely to assume. The research employs various industry-wide analytics methods and well-established methodologies to ascertain the attractiveness of key segments. Further, it evaluates the lucrativeness of key regions and factors underlying their maturity. The insights notably include a detailed analysis of forces behind vendor differentiation and offers insight into investment-decision making by prominent players.

The report strives to enlighten businesses and industry stakeholders on multiple facets of the growth dynamic of the market, the key of which include answers to:

  • Which key factors will shape the competitive landscape?
  • Which trends will stimulate research and development activities in different geographies?
  • Which are the lucrative growth areas and what is the size of potential they are likely contribute to the overall market?
  • Which disruptions in market growth are likely to come with the new business models?
  • Which are some of the recent overhauls in policies that may change the course of the market significantly?
  • Which are the geographies that will form sizable sources of new streams to new and established players alike?
  • How are top players likely to realign their strategy to counter the forces of competition?
  • Which key strategies emerging players are likely to focus on to consolidate their position?
  • Which changes in end-user preferences might affect the status quo held by the leading players?
  • Which are some of the game-changing innovations influencing the projected share and revenue of the market and its segments?

Note: Utmost care has invariably been taken to present data and arrive at statistics at all the TMR Research reports. Meanwhile, some recent developments and new industry trends may take time to be included in the reports.

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