IMARC Group, a leading market research company, has recently released a report titled “Cognac Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global cognac market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
Report Highlights
How Big is the Cognac Market?
Global market exhibited moderate growth during 2017-2022. Looking forward, IMARC Group expects the global cognac market is expected to exhibit a growth rate (CAGR) of 3.5% during 2023-2028.
What is Cognac?
Cognac is a luxurious and refined brandy produced exclusively in the Cognac region of France. The spirit is revered for its delicate and fruity flavor profile since it is made from a carefully selected blend of Trebbiano, Folle Blanche, and Colombard grapes. The grapes are harvested and immediately pressed using pneumatic presses that employ low-pressure extraction techniques to ensure the highest quality. It is then aged in dark oak barrels, which imparts a distinctive dark caramel color and rich, complex flavor. Additionally, cognac boasts several potential health benefits. It is rich in antioxidants and nutrients that help reduce the risk of diabetes, improve bone health, and support cardiovascular function. Furthermore, consuming cognac in moderation has been linked to stress reduction and a greater sense of relaxation.
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What are the Growth Prospects and Trends in the Cognac Industry?
One of the key factors driving the global cognac market growth is the rising millennial population and increasing consumption of cocktails and alcohol. Additionally, the inflating consumer per capita has surged the demand for premium and super-premium cognacs, which, in turn, is accelerating the market growth. In line with this, leading manufacturers are creating innovative cognac flavors using natural and organic ingredients, such as oakwood, apple, orange zest, sandalwood, cinnamon, honey, and caramel, which is providing a positive outlook for the market. In addition to this, the rising use of cognac in fine-dining establishments and bars and easy product availability through online retail channels are significantly contributing to the market growth.
Who are the Key Players Operating in the Cognac Market?
The competitive landscape of the industry has also been examined along with the profiles of the key players.
- Camus Cognac
- Courvoisier S.A.S.
- KELT International
- LVMH Moët Hennessy Louis Vuitton
- Maison Delamain
- Maison Ferrand
- Meukow Co
- Pernod Ricard
- Remy Cointreau
- Thomas HINE & Co. (EDV SAS).
What is Included in Market Segmentation?
The report has categorized the market based on grade type and distribution channel.
Breakup by Grade Type:
- VS (Very Special)
- VSOP (Very Special Old Pale)
- XO (Extra Old)
- Others
Based on Distribution Channel:
- Supermarkets and Hypermarkets
- Convenience Stores
- Liquor Stores
- Online Stores
- Others
Regional Analysis:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, South Africa, Others)
Key Highlights of The Report:
- Market Performance (2017-2022)
- Market Outlook (2023-2028)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
About Us:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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Article source: https://article-realm.com/article/Business/48043-Cognac-Market-Trends-Key-Players-Segmentation-and-Forecast-2023-2028.html
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