Brandy Market Business Opportunities, Current Trends, and Forecast Report, 2023
Brandy market is driven by increase in spending power of consumer on the global scale, growing urbanization, growing popularity of cocktails, and shifting consumer demographics from vodka and whiskey to brandy.
(firmenpresse) - Global brandy market is anticipated to grow significantly in the forecast period due to rise in demand for premium drinks. Brandy is an alcoholic spirit refined fermented fruit juice or wine. Among different fruits, such as plums, apples, peaches, cherries, etc. grapes is the standard fruit for brandy. Brandy is either served with soda as after-meal drinks or alone. It is used to flavour several dessert dishes and mixed drinks, ignite flamed dishes like cherries jubilee and crepes Suzette. It is also used as a base spirit in the making of other distilled liquors.
Brandy market is driven by increase in spending power of consumer on the global scale, growing urbanization, growing popularity of cocktails, and shifting consumer demographics from vodka and whiskey to brandy. Moreover, increase in demand for brandy from developing economies and premiumization, growing popularity of cognac and increasing e-commerce penetration are also fuelling to the growth of brandy market. Most developing economies around the globe have large population that prefer strong alcoholic drinks like brandy. However, market is impeded due to growing competition from other spirit manufacturers.
Few trends observed in the market include rise in number of strategic acquisitions, consumption shift towards brandy in Asian regions, growing number of innovations in product and process, and cognac cocktail trends. Brandy manufacturers are focusing on offering consumers with variety of drinks with different blends and flavors and promote cognac-based cocktails. In the past years, Philippines, based Emperador Distillers acquired Bodege San Bruno, a brandy maker from Spain. Furthermore, strategic acquisition of Mackay & Whyte has also benefitted the brandy market. Cognac, a type of brandy is increasingly used in cocktails
Market is categorized on the basis of type, pricing, distribution channel, and geography. On the basis of type, market is divided into XO, V.S., Multi-Idler, V.S.O.P., and Hors dage. Based on pricing, market is bifurcated into value, standard, premium, and super-premium. Amongst all, super-premium pricing segment is expected to lead the market in future due to growing consumers’ preference. In terms of distribution channel, market is divided into restaurant & bar & club, supermarket & shop, exclusive store, and others.
Geographically, brandy industry is segmented as North America, South America, Europe, Asia Pacific, and Middle East & Africa. Asia Pacific is predicted to dominate the market in the forecast period due to increase in demand. Developing economies of Asia Pacific, such as China, India, and Philippines are the revenue generating areas. European countries, such as Germany, Russia, and UK are also lead the market.
The key players in brandy market are Old Admiral, Gran Matador, Changyu, Mansion House, E & J Gallo, Honey Bee, McDowell’s No.1, Emperador, Hennessy, Remy Martin, Dreher, Martell, McDowell’s VSOP, Paul Masson, Golden Grape, Men’s Club, Old Kenigsberg, Courvoisier, Louis Royer, Silver Cup Brandy, Korbel, Bisquit, Christian Brothers, Baron Otard, Hardy, Salignac, Pierre Croizet, Gautier, A.E. Dor, Brillet, Meukow, Jean Fillioux, Hine, and Brugerolle.
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Datum: 08.05.2020 - 13:30 Uhr
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