Cognac Market Is Expected to Be Worth Us$ 10.2 Bn by 2032

According to a report by Fact.MR, the global cognac market was valued at US$ 6.2 billion in 2020 and is expected to reach US$ 8.9 billion by 2031, with a CAGR of 3.5% during the forecast period (2021-2031). The market growth can be attributed to the increasing demand for premium and super-premium cognac, especially in developed countries.

The report suggests that the VS (very special) segment dominated the market in 2020 and is expected to continue to hold a significant market share during the forecast period due to the high demand for VS cognac in cocktails and other mixed drinks. Regionally, Europe is expected to hold the largest market share due to the high consumption of cognac in countries such as France, the UK, and Germany.

The report also highlights some of the key players operating in the global cognac market, including Rémy Cointreau, Pernod Ricard, Martell & Co, Hennessey, Courvoisier, and Camus. These companies are focusing on product innovation, marketing and branding, and partnerships and collaborations to expand their product portfolio and improve their market position.

Furthermore, the report suggests that the COVID-19 pandemic has had a mixed impact on the cognac market. While the closure of bars and restaurants has led to a decline in on-trade sales, the growth in e-commerce and at-home consumption has led to an increase in off-trade sales. This trend is expected to continue during the forecast period, driving the growth of the global cognac market

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