Cognac and Brandy Market Outlook

According to the report by Expert Market Research (EMR), the global cognac and brandy market size reached a value of USD 30.50 billion in 2024. With the growing demand for premium alcoholic beverages and the increasing consumer preference for high-quality spirits, the market is projected to grow at a compound annual growth rate (CAGR) of 5.7% between 2025 and 2034, reaching a value of USD 50.23 billion by 2034.

Cognac and brandy, both renowned for their rich history, distinct flavors, and luxurious appeal, are among the most sought-after spirits worldwide. While cognac is a specific type of brandy produced in the Cognac region of France, brandy itself refers to a broad category of distilled wines and fruit-based spirits. Both drinks share similar production processes but differ in terms of geographical origin and specific production methods. The increasing global recognition of premium spirits and the growing preference for sophisticated, well-aged beverages are driving the continued growth of the cognac and brandy market.

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Key Drivers of Market Growth

Several key factors are contributing to the growth of the global cognac and brandy market, including the rising demand for premium spirits, the increasing trend of consumer sophistication, and the growing popularity of premium cocktails. One of the most significant drivers is the increasing preference for high-quality, aged alcoholic beverages. As consumers become more discerning in their choice of spirits, there is a growing shift towards high-end brandy and cognac products that offer complex flavor profiles and luxurious drinking experiences. This trend is particularly noticeable in regions such as North America and Europe, where premium beverages are seen as symbols of status and sophistication.

The rise of the cocktail culture is another key factor fueling market expansion. As more consumers seek out premium spirits for use in upscale cocktails, cognac and brandy have gained popularity in bars, restaurants, and luxury establishments. Both spirits serve as essential ingredients in classic and modern cocktails, making them increasingly appealing to mixologists and consumers alike. Furthermore, the popularity of events and festivals centered around high-end beverages is also helping to boost the market.

Another significant driver of the market is the growing number of affluent consumers in emerging markets, particularly in Asia-Pacific and Latin America. As disposable incomes rise and urbanization increases in these regions, the demand for luxury alcoholic beverages is expected to grow, further bolstering the global cognac and brandy market. In particular, countries such as China and India are seeing a surge in the consumption of premium spirits, driven by the younger population's desire for sophisticated drinking experiences.

The Growing Popularity of Aged Cognac and Brandy

Aging is a crucial aspect of both cognac and brandy production. The longer a spirit is aged, the more complex and refined its flavors become, which is highly valued by connoisseurs. Aged cognac and brandy are often perceived as premium products, with many consumers willing to pay a premium for well-aged offerings. This trend is particularly evident in the cognac segment, where the age of the spirit is a key indicator of quality and price.

The most sought-after cognacs are typically aged for several years, and the highest-end varieties can be aged for decades, with prices reflecting the rarity and craftsmanship behind these exceptional products. As consumers continue to seek out the best in quality, there has been an increase in demand for aged cognacs, with many brands releasing limited editions and special releases to cater to the growing desire for luxurious experiences.

Similarly, aged brandy, especially those from established regions such as Spain, Portugal, and the United States, is also gaining traction. As the market for premium brandy grows, distillers are focusing on producing higher-quality, aged varieties that appeal to consumers who appreciate the art of aging and the depth of flavor it imparts to the spirit.

Rising Demand for Craft and Artisanal Brands

The craft spirits movement, which emphasizes small-batch production, traditional methods, and unique flavors, is another trend contributing to the expansion of the cognac and brandy market. Consumers increasingly seek out artisanal and boutique brands that offer distinct and high-quality products, often produced by family-owned distilleries or independent producers.

The craft movement has led to an increased interest in niche cognac and brandy offerings, with distillers experimenting with new aging techniques, unique ingredients, and innovative production methods. These artisanal products cater to consumers looking for something different from the mass-produced options available in the market. As the craft spirits sector continues to grow, cognac and brandy are no exception, with small-batch producers introducing exciting new expressions that appeal to adventurous consumers.

Additionally, the rise of organic and sustainably produced spirits is further shaping the market. Brands that emphasize eco-friendly practices, such as sustainable farming, organic grapes, and environmentally conscious packaging, are resonating with health-conscious and environmentally aware consumers. This trend is expected to accelerate as consumers continue to prioritize sustainability in their purchasing decisions.

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Cognac and Brandy Market Segmentation

The Cognac and Brandy Market can be divided based on product, distribution channel, region.

Breakup by Product Type

• Cognac
• Brandy

Breakup by Distribution Channel

• On-Trade
• Off-Trade

Market Breakup by Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

Competitive Landscape

Some of the major key players explored in the report by Expert Market Research are as follows:

• Radico Khaitan Limited
• Emperador Distillers, Inc.
• Naud Spirits & Distillery
• Pernod Ricard S.A.
• Jas Hennessy & Co.
• Others

Challenges and Opportunities

Europe remains the largest market for cognac and brandy, driven by the longstanding tradition of brandy production in regions such as France and Spain. France, the home of cognac, continues to dominate the cognac segment, with established brands like Hennessy, Rémy Martin, and Courvoisier maintaining strong market shares. In addition, Spain is a key player in the brandy segment, particularly with its well-known varieties such as Brandy de Jerez. These regions continue to innovate while preserving their centuries-old traditions, ensuring the continued appeal of their products.

In North America, the United States is one of the largest consumers of cognac and brandy. The American market is becoming increasingly sophisticated, with consumers showing a growing preference for premium spirits, particularly in metropolitan areas where cocktail culture is thriving. The United States is also a major importer of cognac, with brands like Hennessy enjoying significant popularity.

The Asia-Pacific region, particularly China and Japan, is witnessing rapid growth in cognac and brandy consumption. As disposable incomes rise and the middle class expands, more consumers are turning to premium spirits as a symbol of status and refinement. In China, cognac is particularly popular among affluent consumers, with rising demand for luxury alcoholic beverages driving market growth. Similarly, Japan has a rich history of spirit appreciation, and brandy is gaining traction among younger, more discerning consumers.

In Latin America, countries such as Brazil and Mexico are seeing an increase in cognac and brandy consumption as the demand for premium spirits continues to grow. While the market in these regions is still in its early stages compared to Europe and North America, the expanding middle class and increasing interest in luxury beverages indicate strong growth potential for cognac and brandy in the coming years.

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