Brandy Market Size (US$ 33.9 Billion) | Industry Report 2023-2028

IMARC Group, a leading market research company, has recently releases report titled "Brandy Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028" The study provides a detailed analysis of the industry, including the global brandy market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

Report Highlights

How big is the brandy market?

The global brandy market size reached US$ 25.0 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 33.9 Billion by 2028, exhibiting a growth rate (CAGR) of 4.2% during 2023-2028.

What is a brandy?

Brandy refers to an alcoholic drink that is prepared by distilling and fermenting crushed fruit juice, mash, residue or wine. This spirit contains around 35-60% alcohol content that is widely consumed as a traditional drink across various different regions across the globe. It is characterized by a bitter taste as it does not include any added sugar. It is aged in oak barrels or wooden caskets and is often colored with artificial caramel color in an attempt to mimic the effect of aging. It is rich in antibacterial, antioxidant and polyphenolic compounds, due to which it is widely associated with improving heart health, slowing aging, boosting immunity and reducing the chances of developing cancer. As a result, it is utilized as a digestive and base spirit in cocktails as well as a flavoring agent in numerous dishes and desserts.

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What are the growth prospects and trends in the brandy industry?

The market is primarily driven by rapid urbanization, especially across the developing economies, along with the growing awareness regarding the numerous health benefits offered by the moderate consumption of brandy. Supported by the inflating disposable income levels of the masses, this is providing a thrust to the market growth. Along with this, the rising trend of socializing across the corporate sector is acting as another major growth-inducing factor. The market is further driven by the escalating popularity of cocktail culture across the globe, especially among the young population. Coupled with the rising demand for organic variants, this is creating a positive outlook for the market. Moreover, there has been a considerable increase in the preference for gourmet restaurants that utilize brandy in culinary arts to de-glaze pans, flavor soups, flambe desserts and dishes, and prepare exotic sauces. Consequently, significant growth in the premium food and beverages segment is contributing to the market growth. Moreover, the market is also driven by the increasing penetration of e-commerce liquor services on the global level. On account of the aforementioned factors, the market is expected to grow at a CAGR of 4.2% during 2023-2028.

What is included in market segmentation?

The report has segmented the market into the following categories:

Breakup by Product Type:

Cognac
Armagnac
Fruit Brandy
Others

Breakup by Price:

Value
High-End Premium
Super Premium
Premium

Breakup by Distribution Channel:

Supermarkets and Hypermarkets
Exclusive Stores
On-Trade
Others

Breakup by Region:

North America (U.S. & Canada)
Europe (Germany, United Kingdom, France, Italy, Spain, Russia, and Others)
Asia Pacific (China, India, Japan, South Korea, Indonesia, Australia, and Others)
Latin America (Brazil, Mexico)
Middle East & Africa

Who are the key players operating in the industry?

The report covers the major market players including:

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)
Yantai Changyu Pioneer Wine Company Limited.

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