The unprecedented COVID-19 pandemic has affected the global economy to a great extent. Considering the food industry, one of the most important sectors of the economy, a tremendous impact has been witnessed on the entire process from the field to the consumer. The restrictions in the movement of workers, closure of food production facilities, and changes in consumer demand have put excessive pressure on the food industry.
The report offers actionable and valuable market insights of Cognac. The latest report by Fact.MR provides details on the present scenario of the market across various regions along with the historic data and forecast of the market. The report also includes information on the sales and demand of Cognac Market across various industries and regions.
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Fact.MR, in its latest research, reveals that ~ 210,890 thousand bottles of cognac were sold in 2018 and the sales are likely to grow by ~5% YOY in 2019. According to the report, cognac is successfully outgrowing the phase of being an occasional drink and is being savored more often, on account of its artful convergence of subtlety and authenticity. This will continue to lift the market revenues to new heights through 2027, with the top five market players commanding for a significant share of it.
According to the report, consumer proclivity for premium liquor is estimated to bring in new profits pools for the market players to dive in. Premium alcohol varieties are well-known for their viscosity, texture, and flavor, which gives them an edge over the ordinary liquor grades. Consumers, especially millennials, are increasingly drawn to premium liquor and are more than ready to lose themselves into extravagant experiences. Budding appetite for premium liquor is likely to promise new opportunities for the cognac market players in 2019 and beyond, finds the Fact.MR research study.
The market study done by Fact.MR gives exclusive information about how the market will grow. The study identifies crucial trends that are determining the growth of Cognac market. This newly published report sheds light on vital dynamics, such as the drivers, restraints, and opportunities for key market players as well as emerging players associated with the production and supply. The latest report by Fact.MR provides detailed Market Analysis of Cognac
This newly published and insightful report sheds light on Market Insights of Cognac, key dynamics, their impact on the overall value chain from suppliers to end-users and Growth of Cognac Market.
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Segmentation
Segmentation of the global cognac market has been provided in the form of a taxonomy table in the report.
Based on Grade, the Global Cognac Market is segmented into:
- VS (Very Special)
- VSOP (Very Special Old Pale)
- XO (Extra Old)
Based on Buyers Type, the Global Cognac Market is segmented into:
- Household & Residential Buyers
- Institutional Buyers
- Restaurants & Pubs
Based on Distribution Channel, the Global Cognac Market is segmented into:
- Direct and Institutional Sales
- Modern Trade
- Convenience Stores
- Online Retailers
- Modern Grocery Retail Stores
- Specialty Stores
- Liquor Stores
Based on Region, the Global Cognac Market is segmented into:
- North America
- Latin America
- Europe
- East Asia
- South Asia & Oceania
- Middle East & Africa (MEA)
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Market Players Experiment with Innovations to Vitalize Product Positioning
The report finds that restaurants & pubs will clearly stand out with significant demand for cognac varieties, followed by the household & residential buyers and the institutional buyers. Restaurants and pubs remain continuously focused on devising effective strategies that would boost their overall footfall, and redesigning of their menus by adding premium brandies is one of them. In addition, restaurants and pubs are also drawing upon the trend of ‘brandy-infused cocktails’ and cognac continues to be the most-preferred choice among all other types of brandy.
To lift their sales performance to newer heights, several cognac brands are focusing on bespoke innovations while mastering the art of consumer engagement. For instance, Martell has been working on upgradation of its product pipeline with the release of ‘Blue Swift’, a VSOP expression matured in French oak casks and finished in Kentucky Bourbon barrels.
The goliath in the global cognac space, Hennessy, introduced its very first marketing campaign “Hennessy & Meal” to remodel its business pillars post an industry wide slump in Asia. This campaign was aimed at strategically collaborating with over 150 local restaurants spread across China to serve cognac along with meal options. However, the emerging market players are placing their bets on the millennial categories by launching innovative and unique blends, which would not only help them thrive but also gain long-term profits in the turbulent market space.
This study pinpoints the untapped corners in the global cognac market and finds that the market would grow at a value CAGR of ~ 6.5% during the assessment period.
List of Tables
TABLE 1. Global Cognac Market Value (US$ Mn) & Volume, 2013-2018
TABLE 2. Global Cognac Market Value (US$ Mn) & Volume, 2019-2027
TABLE 3. Global Cognac Market Value (US$ Mn) & Volume and Y-o-Y, 2018-2027
TABLE 4. Global VS (Very Special) Segment Value (US$ Mn) & Volume, By Region 2013-2018
TABLE 5. Global VS (Very Special) Segment Value (US$ Mn) & Volume, By Region 2019-2027
List of Figures
FIG. 1 Global Cognac Market Value (US$ Mn), 2013-2018
FIG. 2 Global Cognac Market Value (US$ Mn) Forecast, 2019-2027
FIG. 3 Global Cognac Market Value (US$ Mn) and Y-o-Y, 2018-2027
FIG. 4 Global VS (Very Special) Segment Market Value (US$ Mn) By Region, 2013-2018
FIG. 5 Global VS (Very Special) Segment Market Value (US$ Mn) By Region, 2019-2027
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Key Question answered in the survey of Cognac market report:
- Sales and Demand of Cognac
- Growth of Cognac Market
- Market Analysis of Cognac
- Market Insights of Cognac
- Key Drivers Impacting the Cognac market
- Which are the Key drivers impacted by Cognac market
- Restraints Shaping Market Growth
- Market Survey of Cognac
More Valuable Insights on Cognac Market
Fact.MR, in its new report, offers an unbiased Market Analysis of Cognac, Sales and Demand of Cognac, analyzing forecast statistics through 2019 and beyond. The study reveals growth projections on the basis of various criteria.
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