Cognac Market Size Worth $5.09 Billion By 2027 | CAGR: 3.5%: Grand View Research, Inc.

SAN FRANCISCO, Aug. 19, 2020 /PRNewswire/ -- The global cognac market size is expected to reach USD 5.09 billion by 2027, according to a new report by Grand View Research, Inc., expanding at a CAGR of 3.5% over the forecast period. The growing popularity of the product is attributed to the increasing demand for premium brandy among the consumers at the global level. The unique taste and flavor of the product have led to some ardent factions of the product. Cognac generally does not have an age stated on the bottle. Over the past few years, it has evolved as an international spirit sold across the U.S., China, Singapore, and Russia.

Key suggestions from the report:

• The V.S. cognac grade segment accounted for more than 50.0% share of the global volume in 2019. The segment growth is propelled by the constant demand for new products among customers
• By distribution channel, on-trade is expected to register the fastest CAGR of 6.4% from 2020 to 2027 in terms of volume. Rising spending on providing attractive offers to the customers while ordering alcoholic drinks in bars and restaurants is expected to remain a favorable factor for the segment growth
• Asia Pacific is expected to register the fastest CAGR of 4.0% from 2020 to 2027 in terms of revenue. This growth is attributed to increasing demand for cognac in Far-East countries, including China, Japan, South Korea, Singapore, and Vietnam
• Off-trade distribution channel led the market and accounted for more than 55.0% share of the global volume in 2019. Consumers prefer buying drinks from various liquor stores, as these come at a cheaper price than most other on-trade distribution channels.

Read 80 page research report with ToC on "Cognac Market Size, Share & Trends Analysis Report By Grade (V.S., V.S.O.P.), By Distribution Channel (On-trade, Off-trade), By Region (North America, Europe, APAC, RoW), And Segment Forecasts, 2020 - 2027" at: https://www.grandviewresearch.com/industry-analysis/cognac-market

Product launches have played a vital role in creating a wide penetration of the product. In May 2020, Douglas Laing launched a new product, Cognac Finished Lowland Malt Scotch Whisky. The product has a natural golden color, which belongs to the Epicurean Wood Series and is packaged with ABV content of 48%. The product is a move towards exhibiting the significant effect of the cask on whiskey. The company claimed that these spirits are composed of tropical style notes with fiery ginger, lychee, coconut, and sandalwood.

North America dominated the market and accounted for over 35.0% share of the global revenue in 2019. The strong foothold of the region is attributed to the strong consumption of high-end alcoholic drinks among the students and working-class people in countries, including the U.S. and Canada.

Grand View Research has segmented the global cognac market on the basis of grade, distribution channel, and region:

• Cognac Grade Outlook (Volume, Million Bottles; Revenue, USD Million, 2016 - 2027)
• V.S.
• V.S.O.P.
• Others
• Cognac Distribution Channel Outlook (Volume, Million Bottles; Revenue, USD Million, 2016 - 2027)
• On-trade
• Off-trade
• Cognac Regional Outlook (Volume, Million Bottles; Revenue, USD Million, 2016 - 2027)
• North America
• The U.S.
• Europe
• The U.K.
• Germany
• France
• Netherlands
• Asia Pacific
• China
• Rest of the World
• South Africa

List of Key Players of Cognac Market:

• Courvoisier S.A.S.
• DAVIDOFF OF GENEVA USA ONLINE, INC.
• E. Rémy Martin & Co.
• LVMH (HENNESSY)
• KELT International
• Louis Royer SAS
• MAISON FERRAND
• Mewkow
• Pernod Ricard (Martell)
• Thomas HINE & Co.

Find more research reports on Alcohol & Tobacco Industry, by Grand View Research:

• Premium Spirit Market – The global premium spirit market size was valued at USD 107.74 billion in 2019 and is expected to grow at a compound annual growth rate (CAGR) of 10.3% 2020 to 2027.
• Snus Market – The global snus market size was valued at USD 2.41 billion in 2019 and is expected to grow at a compound annual growth rate (CAGR) of 5.5% from 2020 to 2027.
• Spiced Rum Market – The global spiced rum market size was valued at USD 6.69 billion in 2019 and is anticipated to witness significant growth in the years to come. The market growth is majorly attributed to shifting consumer preference for premium alcoholic drinks.

Gain access to Grand View Compass, our BI enabled intuitive market research database of 10,000+ reports

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc.
Phone: +1-415-349-0058
Toll Free: 1-888-202-9519
Email: sales@grandviewresearch.com
Web: https://www.grandviewresearch.com 
Follow Us: LinkedIn | Twitter

Logo: https://mma.prnewswire.com/media/661327/Grand_View_Research_Logo.jpg