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The global brandy market size was valued at US$ 23.7 Billion in 2021.
According to the estimates by IMARC Group, the global brandy market is expected to grow at a CAGR of 5.77% during 2022-2027.
The rising penetration of the cocktail culture, in confluence with the emerging trend of socializing at restaurants and bars, especially among young individuals, are some of the key drivers for the global brandy market.
The growing consumer awareness towards numerous health benefits related to brandy consumption, such as soothing cough and cold, represents one of the key trends in the global brandy market.
Sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several nations resulting in temporary closure of bars and pubs, thereby limiting the demand for brandy.
On the basis of the price, the market has been bifurcated into value, high-end premium, super premium, and premium.
On the basis of the distribution channel, the market has been divided into supermarkets and hypermarkets, exclusive stores, on-trade, and others. Among these, on-trade represents the largest segment.
Region-wise, the market has been classified into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America, where North America dominates the global market.
The key companies in the global brandy market are Courvoisier Cognac (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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