Brandy and Cognac Market, Opportunity, Growth Drivers, Industry Trend Analysis and Forecast, 2025-2034

The Global Brandy & Cognac Market was valued at USD 837.4 million in 2024 and is estimated to grow at a CAGR of 6.2% to reach USD 1.5 billion by 2034.

The market growth is driven by rising consumer appetite for premium and ultra-premium brown spirits, the expanding culture of gifting and ceremonial toasting, and the increasing visibility of Brandy and Cognac in cocktail menus, tasting experiences, and travel retail. Younger legal-age consumers are showing greater interest in heritage-led brands, aged expressions, and curated tasting flights, while sophisticated packaging, storytelling, and limited-edition releases are helping producers command higher price points and deepen brand loyalty in both mature and emerging markets.

By product type, the cognac segment generated USD 39.61 million in 2024. Cognac’s dominance is underpinned by its strong global brand equity, strict appellation rules, and perception as a luxury celebratory drink. Within Cognac, higher-aged tiers such as XO and Napoleon are gaining momentum as consumers trade up for more complex profiles, cask finishes, and provenance-driven storytelling. These expressions are increasingly featured in premium bars, high-end restaurants, and collectors’ circles, where they are positioned alongside other luxury spirits such as single malt whisky.

The Spanish brandy segment reached USD 240.99 million in 2024, owing to the deep-rooted tradition with modern premiumization trends. Produced mainly in regions such as Jerez, Spanish brandy is distinguished by its aging in sherry-seasoned oak casks, which imparts rich notes of dried fruits, vanilla, nuts, and subtle spice, giving it a rounded, approachable yet complex profile.

Europe Brandy & Cognac Market reached USD 304.41 million in 2024. This leadership is anchored in long-established consumption in France, Spain, the UK, Germany, and Italy, where Brandy and Cognac are deeply embedded in culinary culture, festive occasions, and after-dinner rituals. Premium on-trade venues and specialist retailers across Europe are broadening their assortments of aged Brandy and Cognac, while tourism and distillery visits are reinforcing brand heritage and consumer education. European producers are also increasingly targeting export markets with higher-end lines, leveraging protected appellations, barrel-aging techniques, and narrative-driven branding to sustain growth.

Key players in the Global Brandy & Cognac Market include Hennessy, Rémy Martin, Pernod Ricard, Courvoisier, Delamain Cognac, Cognac Frapin, Hine Cognac, Torres Brandy, and González Byass (Tío Pepe), which together command a significant share of global revenues and shape innovation and premiumization trends across major regions. Leading Brandy and Cognac companies are strengthening their market foothold through a blend of premiumization, portfolio diversification, and experiential branding. They are investing heavily in aged and ultra-premium expressions, limited editions, and cask-finish variants to capture higher margins and appeal to enthusiasts and collectors. Parallelly, they are expanding cocktail-friendly and accessible SKUs to engage younger legal-age consumers and on-trade venues. Geographic expansion is another core strategy, with a strong push into Asia-Pacific, Latin America, and high-growth urban centers via partnerships with local distributors and duty-free operators. Show more