Brandy Market To Reach $35.16 Billion By 2030 | CAGR: 6.8%

Brandy Market Growth & Trends

The global brandy market size is anticipated to reach USD 35.16 billion by 2030 and is projected to grow at a CAGR of 6.8% from 2024 to 2030, according to a new report by Grand View Research, Inc. The market is witnessing a notable surge in recent years. One significant contributor to the growth is the ongoing trend of premiumization and the burgeoning craft movement within the spirits industry. Discerning consumers increasingly seek out artisanal and high-quality products, prompting brandy producers to innovate with unique flavors, production methods, and branding strategies. This diversification of flavor profiles, ranging from experimental blends to fruit-infused varieties, has expanded the appeal of brandy, enticing consumers to explore the category further.

Moreover, the rise of cocktail culture has played a pivotal role in driving brandy consumption, as mixologists and enthusiasts incorporate it into an array of sophisticated cocktails. The versatility of brandy as a cocktail base, coupled with its association with elegance and tradition, has made it a favored choice for social gatherings and events.

In addition, the perception of brandy as a potentially healthier alternative to other spirits, along with its global market expansion, has contributed to its growing popularity across diverse demographics and regions. Manufacturers are continuously innovating to introduce new flavors and experiences within the brandy category, leveraging a variety of techniques and ingredients to captivate consumer interest. For instance, Rémy Martin, a renowned brandy producer, introduced Rémy Martin Carte Blanche Merpins Cellar Edition, showcasing the expertise of the cellar master in selecting exceptional eaux-de-vie. This limited edition release offers a refined flavor profile with notes of orchard fruits and subtle oak nuances, embodying the brand's commitment to craftsmanship and quality.

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Brandy Market Report Highlights

• The flavored segment led the market with the largest revenue share of 76.6% in 2023. With the increasing demand for unique and novel beverage experiences, distillers are continuously introducing new flavored brandy varieties to the market. These innovative flavors cater to diverse consumer preferences, ranging from fruity and floral to spicy and savory, thereby expanding the appeal of brandy to a wider audience

• Based on price, the premium segment is expected to grow at the fastest CAGR from 2024 to 2030. Premium priced brandy is often associated with superior quality and meticulous craftsmanship. Consumers are willing to pay a premium for brandy that undergoes longer aging periods, uses higher quality ingredients, and employs traditional production methods, resulting in a more refined and complex flavor profile

• Based on quality, the extra old segment led the market with the largest revenue share of 19.7% in 2023. The premiumization trend in the spirits industry has led to a growing demand for high-quality, luxury products, including extra old brandy. Consumers are willing to pay a premium for brandy that has been aged for an extended period, viewing it as a symbol of sophistication and indulgence. As a result, brands are investing in the production and promotion of extra old brandy offerings to capitalize on this trend and meet consumer demand for premium spirits

• Asia Pacific is expected to grow at a significant CAGR from 2024 to 2030. Brandy has a long history of consumption in certain Asian cultures, where it is often associated with celebration, social gatherings, and status. As Western drinking habits become more prevalent and cosmopolitan lifestyles gain popularity, brandy consumption in the Asia Pacific is growing as consumers embrace new drinking trends and explore different spirits beyond traditional choices

Brandy Market Segmentation

Grand View Research has segmented the brandy market report based on the product, price, quality, distribution channel, and region:

Brandy Product Outlook (Revenue, USD Million, 2018 - 2030)

• Flavored

• Regular

Brandy Price Outlook (Revenue, USD Million, 2018 - 2030)

• Economy

• Premium

• Luxury

Brandy Quality Outlook (Revenue, USD Million, 2018 - 2030)

• Very Special

• Very Superior Ole Pale

• Extra Old

Brandy Distribution Channel Outlook (Revenue, USD Million, 2018 - 2030)

• On Trade

  • Bars & Restaurants

  • Pubs

• Off Trade

  • Supermarkets/Hypermarkets

  • Liquor Stores

  • Online

  • Others

Brandy Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • UK

  • Germany

  • France

  • Italy

  • Spain

• Asia Pacific

  • China

  • India

  • Japan

  • Australia & New Zealand

• Latin America

  • Brazil

• Middle East & Africa

  • South Africa

  • UAE

List of Key Players in Brandy Market

• Hennessy

• Rémy Martin

• Courvoisier

• Martell

• Torres

• E&J Gallo

• Christian Brothers

• St-Rémy

• Germain-Robin

• Vecchia Romagna