Cognac Market Expected to Reach US ~$4.85 Billion and CAGR 3.9% by 2028 – Polaris Market Research
The global Cognac Market size is expected to reach USD 4.85 billion by 2028 according to a new study by Polaris Market Research.
The prominent factors contributing to the market growth are the increasing inclination towards alcohol compared to tobacco or smoking. Growing numbers of foodservice chains are refurbishing their menus, including novel brandy-based cocktails, which act as a catalyzing factor for market growth in the forecasting years. Cognac picks as the prior selection for the preparation of brandy-based cocktails because it offers various flavors and experiments for operating its food services that also positively influence the demand of cognac globally.
Request Sample Copy of Research Report @ https://www.polarismarketresearch.com/industry-analysis/cognac-market/request-for-sample
(The sample of this report is readily available on request. The report sample contains a brief introduction to the research report, a Table of Contents, a Graphical introduction of regional analysis, Top players in the market with their revenue analysis, and our research methodology.)
Based on grade, the very special segment is the leading segment in the global market due to the persistent demand among the end-users that will enhance the growth of the segment. Whereas, the special and old pale segment is likely to increase with the most productive rate in the overall market in the upcoming years.
The foremost strategic development is taken by the existing market players the accelerate the development of the market in the forthcoming period. For instance, In July 2021, the Campari Group UK proclaimed that the company is rebranding its Cognac brand Bisquit as its original name Bisquit & Dubouche. Similarly, In March 2021, Camus revealed the 2016 vintage bottling created from the Colombard grapes. This return was named the Return to Saint-Aulaye. The main aim of this collaboration of Camus and Saint-Aulaye village is to in Dordogne rejoice in the ‘rich’ terroir of the village.
Moreover, the major factor stimulating the market demand for cognac is the emerging popularity and acceptance of the craft spirit worldwide. In addition, the increasing disposable income, coupled with the increasing consumption of premium alcoholic drinks among millennials, is expected to expand the market scope in the next few years. For instance, in the United States, the population of millennials accounts for around 73 million people. Similarly, according to the Bureau of Labor Statistics (BLA), the average income of millennials is approximately USD 56,099 prior to taxes and expenditure of nearly USD 47,112. Therefore, this increased disposable income and millennial population act as the major driver for the market growth in the forecasting period.
Buy a Premium Report – https://www.polarismarketresearch.com/checkouts/10891
Market participants such as Bacardi, Beam Suntory, Branded Spirits, Courvoisier S.A.S., Davidoff of Geneva USA Online, Inc., E. Remy Martin & Co., Hennessy, Kelt International, Louis Royer SAS, Maison Ferrand, Mewkow, Novovino Wine Pernod Ricard, Thomas Hine & Co. are some of the significant players operating in the global market.
Inquire more about this report before purchasing @ https://www.polarismarketresearch.com/industry-analysis/cognac-market/inquire-before-buying
(You may enquire about a reported quote OR available discount offers to our sales team before purchase.)
Polaris Market Research has segmented the cognac market report on the basis of grade, distribution channel, and region:
Cognac, Grade Outlook (Revenue – USD Million, 2016 – 2028)
- Very Special
- Very Special and Old Pale
- Extra Old
Cognac, Distribution Channel Outlook (Revenue – USD Million, 2016 – 2028)
Browse detailed report with in-depth TOC – Cognac Market
Polaris Market Research is a worldwide market research and consulting organization. We give unmatched nature of offering to our customers present all around the globe across industry verticals. Polaris Market Research has expertise in giving deep-dive market insight along with market intelligence to our customers spread crosswise over various undertakings. We at Polaris are obliged to serve our different client base present over the enterprises of medicinal services, healthcare, innovation, next-gen technologies, semiconductors, chemicals, automotive, and aerospace & defense, among different ventures, present globally.
Polaris Market Research