Cognac Market To Reach $5.55 Billion By 2030 | CAGR: 3.0%

Cognac Market Growth & Trends

The global cognac market size is expected to reach USD 5.55 billion by 2030, registering a CAGR of 3.0% from 2024 to 2030, according to a new report by Grand View Research, Inc. 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.

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.

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Cognac Market Report Highlights

• V.S.O.P. dominated the market and accounted for the largest revenue share of 43.7% in 2023. Cognacs of the V.S.O.P. (Very Superior Old Pale) grade must be matured for at least four years, resulting in a richer and more intricate taste than the V.S. grade.

• Off-trade led the market and accounted for the largest revenue share of 50.1% in 2023, owing to its widespread coverage and capacity to provide a diverse selection of products.

• The North America cognac market dominated the global market and accounted for the largest revenue share of 38.8% in 2023 attributed to robust consumer purchasing ability and a deep-rooted tradition of enjoying top-quality alcoholic beverages.

• The Asia Pacific cognac market is expected to grow significantly with a CAGR of 3.6% over the forecast period driven by the expanding middle class in the area and the increase in disposable incomes.

Cognac Market Segmentation

Grand View Research has segmented global cognac market report based on grade, distribution channel, and region:

Cognac Grade Outlook (Volume, Million Bottles; Revenue, USD Million, 2018 - 2030)

• V.S.

• V.S.O.P.

• Others

Cognac Distribution Channel Outlook (Volume, Million Bottles; Revenue, USD Million, 2018 - 2030)

• On-Trade

• Off-Trade

Cognac Regional Outlook (Volume, Million Bottles; Revenue, USD Million, 2018 - 2030)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • Germany

  • UK

  • France

  • Latvia

  • Netherlands

• Asia Pacific

  • China

  • Japan

  • Hong Kong

  • South Korea

  • Singapore

• Latin America

  • Brazil

• Middle East and Africa (MEA)

  • South Africa

List of Key Players of Cognac Market

• Courvoisier S.A.S.

• Zino Davidoff

• E. Rémy Martin & Co.

• HENNESSY

• Kelt Cognac

• Louis Royer

• MAISON FERRAND

• Cognac Meukow

• Pernod Ricard

• Thomas HINE & Co.