Cognac Market to grow at a value CAGR of ~ 6.5% during the assessment period 2019 – 2027

Fact.MR, in its latest research, reveals that ~ 210,890 thousand bottles of cognac were sold in 2018 and the sales are likely to grow by ~5% YOY in 2019. According to the report, cognac is successfully outgrowing the phase of being an occasional drink and is being savored more often, on account of its artful convergence of subtlety and authenticity. This will continue to lift the market revenues to new heights through 2027, with the top five market players commanding for a significant share of it.

“Cognac has been regarded as one of the highly-coveted of all spirits distilled from grapes, for the umpteen number of qualities it exhibits in terms of aroma, intensity, warmth, and – above all- subtlety. Even though it continues to face intense competition from whiskey, its demand doesn’t seem to pale anytime soon and, in fact, continues to grow faster than expected”, says the Fact.MR analyst.

According to the report, consumer proclivity for premium liquor is estimated to bring in new profits pools for the market players to dive in. Premium alcohol varieties are well-known for their viscosity, texture, and flavor, which gives them an edge over the ordinary liquor grades. Consumers, especially millennials, are increasingly drawn to premium liquor and are more than ready to lose themselves into extravagant experiences. Budding appetite for premium liquor is likely to promise new opportunities for the cognac market players in 2019 and beyond, finds the Fact.MR research study.

The study finds that VS (very special) grades accounted for over ½ of the overall cognac sales in 2018, and the category is estimated to see exorbitant demand through 2027. VSOP (Very Superior Old Pale) remains the second most popular cognac grade among consumers, however, the XO (Extra Old) grade is likely to upend the scenario and witness exponential demand by the end of 2027.

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Cognac Market – Scope of Report:

A latest publication by Fact.MR on the global Cognac market evaluates the opportunities and current market landscape, and provides detailed analysis and updates about corresponding sections affecting the market.

The study offers detailed insights on key market dynamics, which include the drivers, restraints, trends, and opportunities in the market.

The principal aim of the study is to present exclusive information about how the market will perform during the forecast period of 2019-2027.

Important indicators for the successful growth of the Cognac market are presented in this comprehensive report, which include Year-on-Year (Y-o-Y) growth analysis of the market, and compounded annual growth rate (CAGR), which are described in an exhaustive way in Fact.MR’s study.

This research study can support readers to know the demand for Cognac supplements, and the quantitative development opportunities during the study period.

The research is beneficial for shareholders in Pulse Oximeters, including investors, manufacturers, service providers, distributors, and suppliers, and can help them in developing suitable business strategies to flourish in the market.

Insights and wisdom presented in this Fact.MR study can be leveraged by shareholders in the market, industry experts, investors, researchers, and reporters, as well as business enthusiasts.

Market Competitors:

• The report finds that restaurants & pubs will clearly stand out with significant demand for cognac varieties, followed by the household & residential buyers and the institutional buyers. Restaurants and pubs remain continuously focused on devising effective strategies that would boost their overall footfall, and redesigning of their menus by adding premium brandies is one of them. In addition, restaurants and pubs are also drawing upon the trend of ‘brandy-infused cocktails’ and cognac continues to be the most-preferred choice among all other types of brandy.

  To lift their sales performance to newer heights, several cognac brands are focusing on bespoke innovations while mastering the art of consumer engagement. For instance, Martell has been working on upgradation of its product pipeline with the release of ‘Blue Swift’, a VSOP expression matured in French oak casks and finished in Kentucky Bourbon barrels.

  The goliath in the global cognac space, Hennessy, introduced its very first marketing campaign “Hennessy & Meal” to remodel its business pillars post an industry wide slump in Asia. This campaign was aimed at strategically collaborating with over 150 local restaurants spread across China to serve cognac along with meal options. However, the emerging market players are placing their bets on the millennial categories by launching innovative and unique blends, which would not only help them thrive but also gain long-term profits in the turbulent market space.

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Report benefits & key questions answered

• Post covid consumer spending on Cognac: the report also highlights the change in the buying behavior of consumers and shifts in purchasing power, post covid-19. This information will assist the businesses to plan their production and marketing strategies.
• Cognac demand outlook: the market intelligence study reports highlights the factor propelling the demand for Cognac. As per the study, the demand for Cognac will grow through 2027.
• Cognac historical volume analysis: Fact.MR survey report provides insights into the sales registered over the last forecast year 2016 to 2020 and create estimates regarding the sales performance for 2019-2027.
• Cognac consumption by demographics: the report provides consumption by demographics analysis to assist the market players in designing their expansion strategies on the basis of consumption pattern of the customers.

Cognac Market Segmentations:

Based on Grade, the Global Cognac Market is segmented into:

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

Based on Buyers Type, the Global Cognac Market is segmented into:

• Household & Residential Buyers
• Institutional Buyers
• Restaurants & Pubs

Based on Distribution Channel, the Global Cognac Market is segmented into:

• Direct and Institutional Sales
• Modern Trade
• Convenience Stores
• Online Retailers
• Modern Grocery Retail Stores
• Specialty Stores
• Liquor Stores

Based on Region, the Global Cognac Market is segmented into:

• North America
• Latin America
• Europe
• East Asia
• South Asia & Oceania
• Middle East & Africa (MEA)

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