Rare Cognac Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2020–2030
Rare Cognac: Market Outlook
Cognac is a type of brandy has found its massive demand across the Europe due to origination of cognac in France. Rare cognac is prepared by the double distillation of white wine. Only certain strains of grapes are used to make the white wine by the process of fermentation under pressure for 2 to 3 weeks. As it takes a considerable amount of time foraging, it is considered a high-end product in the market.
North America is re-fuelling the demand for rare cognac by using it as an ingredient in several cocktails. Because of its taste and blends, rare cognac is popularly used as an ingredient to many drinks such as Grand Marnier, Pineau des Charentes, Domaaine de Canton, Sidecar, Alexander, Stinger, French Connections, and many more.
In the region of Asia-Pacific, China is the major market for rare cognac followed by India and Japan. In these markets, personal consumption is expected to boost the market of rare cognac. A large number of consumers are also inclined towards the premium quality brand, aged for as long as two years, making cognac a hot product in the market.
Rare Cognac: Market Dynamics
North America is the prime and the oldest market for rare cognacs. In North America, consumption of rare cognac as a cocktail ingredient has increased the demand for rare cognac in the market. China is the largest market of Rare Cognac in Asia-Pacific. Besides this India and Japan are also developing markets and demand for the same is increasing gradually.
Rare cognac has been in the market for a long time. But it did not achieve popularity as other types of alcohol. After declining sales for over a decade, rare cognac is observing a rapidly increasing demand across the world. There are some points that make rare cognac distinguished from other alcoholic beverage, such as it does not leaves headache on consumption, and have popularity among the traditional consumers.
Around 80% of the rare cognac production across the world is done by four companies and out of all the production 89% is exported to other countries from different producers across the globe.
Rare Cognac: Market Segmentation
Based on Type, Rare Cognac Market can be segmented as:
Based on Distribution Channel, Rare Cognac Market can be segmented as:
Based on Region, Rare Cognac Market can be segmented as:
Key Players of Rare Cognac Market
Moet & Hennessy, Laurendeaux, Beam Suntory, D'USSE, Remy Cointreau USA, Pernod Ricard, Pernod Ricard SA, Jas Hennessy & Co., Novovino Wine Company, Branded Spirits USA, Beam Suntory, Inc., PIERRE LECAT SAS, and Meukow Cognac are some of the prime players in the market of rare cognac.
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