The global brandy market reached a value of US$ 21.8 Billion in 2020. Brandy is a spirit or distillate made from wine, fruit juices and mashes containing 35-60% alcohol content. It is aged in oak barrels for 3-20 years with additional caramel coloring and flavors. As it contains antibacterial, antioxidant, and polyphenolic compounds, its moderate consumption can provide multiple health benefits, such as increasing immunity, improving heart health, slowing aging, reducing cancer risk, and soothing cold and cough. It is widely consumed as a digestive and base spirit in cocktails and used in culinary arts to flavor soups, de-glaze pans, flambe desserts and dishes, and produce sauces, cakes, puddings and butter.
The increasing adoption of cocktail culture, in confluence with the rising trend of socializing at restaurants and bars, especially among young individuals, represents one of the significant factors impelling the global brandy market growth. Moreover, the growing popularity of premiumization in the food and beverage (F&B) industry, along with the escalating preference for gourmet cooking, acts as another major growth-inducing factor. Besides this, the rising demand for organic variants, expanding food tourism and culinary services are also contributing to the market growth. However, the market is currently experiencing negative growth due to the spread of the coronavirus disease (COVID-19), the imposition of lockdowns by governments of several countries and temporary closure of restaurants and bars. This has led to a decline in the on-premises consumption of brandy around the world. The market is expected to revive once these restrictions are relaxed. Looking forward, IMARC Group expects the global brandy market to exhibit moderate growth during the next five years.
IMARC Group provides an analysis of the key trends in each sub-segment of the global brandy market report, along with forecasts for growth at the global, regional and country level from 2021-2026. Our report has categorized the market based on region, product type, price and distribution channel.
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The report has also analysed the competitive landscape of the market with some of the key players being Courvoisier (Beam Suntory Inc.), Diageo Plc, E. & J. Gallo Winery, Emperador (Alliance Global Group Inc.), F. Korbel & Bros., Martell, Speciality Brands Ltd., Rémy Cointreau, Thomas HINE & Co (EDV SAS) and Yantai Changyu Pioneer Wine Company Limited.
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