Global Cognac Market 2018-2022
About this market
Premiumization of cognac to drive growth in the market. The increasing disposable income and aspirational mindset of the middle class are propelling the concept of premiumization, driving the global cognac market. Premium cognacs are the fastest growing segment pushed by consumers searching for unique and authentic brands. Also, the growing awareness and knowledge of consumers about cognac is fueling its consumption. Technavio’ s analysts have predicted that the cognac market will register a CAGR of over 3% by 2022.
Rising popularity in China
China, the third largest importer of cognac, after the US and Singapore has established itself as one of the fastest growing markets of cognac in the world.
Competition from other spirits
Cognac faces a significant threat of substitution due to the availability of other brandy products.
For the detailed list of factors that will drive and challenge the growth of the cognac market during the 2018-2022, view our report.
The market appears to be fragmented and with the presence of several companies including Techman-Head Group and Brackett Aircraft Company the competitive environment is quite intense. Factors such as the rising popularity in China and the premiumization of cognac, will provide considerable growth opportunities to cognac manufactures. Beam Suntory, Hennessy, Meukow, Pernod Ricard, Rémy Cointreau are some of the major companies covered in this report.
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