Iceland: Brandy Market and the Impact of COVID-19 on It in the Medium Term
The brandy market in Iceland was equal to 12.00 million USD (calculated in retail prices) in 2015. Until 2025, the brandy market in Iceland is forecast to reach 17.54 million USD (in retail prices), thus increasing at a CAGR of 3.18% per annum for the period 2020-2025. This is a decrease, compared to the growth of about 5.74% per year, registered in 2015-2019.
The average consumption per capita in value terms reached 36.24 USD per capita (in retail prices) in 2015. In the next five years, it grew at a CAGR of 4.85% per annum. In the medium term (by 2025), the indicator is forecast to slow down its growth and increase at a CAGR of 2.07% per annum.
Recently, the brandy category has witnessed an increase in sales, despite being relatively flat during the last few years. According to industry experts, customers, as well as bartenders are curious and keen to explore brown sprits beyond whiskey. As a result, the interest in brandy today is growing, prompted by the rise of cocktail culture and its popularity as after-dinner drink. When it comes to premiumization, cognac has gone through a resurgence, while brandy has been left lagging behind it, partially due to the fact that most of the consumers are still unaware that cognac and brandy are the same spirit-type. However, owing to the curiosity and interest in deepening their knowledge, consumers now better understand and appreciate the brandy as a whole. In addition, the emergence of the local craft brandies in the USA is further encouraging the premiumization.
Regionally, the cognac market in North America, Asia and Russia saw a strong performance in the last few years, while in the UK and other European countries it showed slower growth. Another recent development on the brandy market is the sale of one of the most popular brands - Paul Masson by Constellation in 2019. Similarly, in 2017, the wine-maker Gallo finalized the acquisition of Germain-Robin, a luxury brandy producer, thus entering the higher priced brandy segment.
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This report presents a strategic analysis of the Icelandic brandy market and a forecast for its development in the medium term, taking into account the impact of COVID-19 on it. It provides a comprehensive overview of the market volume and value, dynamics, segmentation, characteristics, main players, prices, international trade, trends and insights, growth and demand drivers, challenges, etc. This is one of the most comprehensive reports about the Icelandic brandy market, offering unmatched value, accuracy and expert insights.
The purpose of the report is to describe the state of the Icelandic brandy market and to present real and expert-verified information about the volumes, values, dynamics, segmentation and characteristics of consumption, prices, imports, and exports. The report also presents a forecast for the market development in the short and medium term and the impact COVID-19 has and will have on it. In addition, the report presents an elaborate analysis of the main market participants, industry trends and insights, growth and demand drivers and challenges and all other factors, influencing the market development.
Questions This Report Answers
The report on the Icelandic brandy market covers:
• Market volume, value and dynamics for the last five years;
• Analysis of the factors, influencing the market development (market trends and insights, drivers and challenges) and the impact COVID-19 has and will have on the market in both the short and the medium term;
• Value chain analysis and structure of price formation;
• Analysis of retail price levels and their dynamics for the last five years;
• Analysis of the major international trade flows;
• Volume, value, dynamics, and analysis of imports for the last five years;
• Volume, value, dynamics, and analysis of exports for the last five years;
• Volume and dynamics of the average import and export prices for the last five years;
• Volume, value, dynamics, and analysis of per capita consumption for the last five years;
• Forecast for market development in the medium term;
• Characteristics of the main players on the market;
• Analysis of the competitive landscape;
• Importance of the HoReCa channel (on-trade vs. off-trade consumption);
• Market shares of the main market players;
• Distribution channels for retail sales;
• Five Forces analysis;
• Analysis and forecast for the global economy and demographics.
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• Track and identify key market trends and insights and key drivers behind recent market changes and see the impact COVID-19 has and will have on the market in both the short and the medium term;
• Strategically assess growth potential, opportunities, demand drivers and challenges on the market;
• Strategically assess the importance of the HoReCa channel on the market;
• Discover the importance of each distribution channel for the retail market;
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This report presents data, which is:
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• Mergers and acquisitions.
Who Is This Report for?
This report is for people who already are actively working on this market, representatives of producers, distributors, importers, exporters, wholesalers, retailers, suppliers:
• Industry C Level executives;
• Industry strategists;
• Marketing professionals;
• Business development professionals;
• Product developers;
• Product marketers and strategists;
• Product managers;
• Project managers;
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• Management consultants;
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This research report has been prepared using the proven WMStrategy’s methodology, including a blend of qualitative and quantitative data. The information comes from official sources and insights from market experts (representatives of the main market participants), gathered by semi-structured interviews. For this particular report, more than 10 market expert interviews have been conducted with experts from the leading market companies (producers, distributors, retailers, suppliers, etc.). The full list of interviewed experts and a detailed methodology are available upon request.
This report covers the following product groups:
• Brandy (including brandy and fruit brandy; excluding ready-to-drink cocktails, containing brandy or fruit brandy).
This is the most valuable, detailed (COVID-19 updated) and comprehensive report about the Icelandic brandy market currently available! We also offer similar reports, covering every global country and region separately and offer special terms for bundle purchases. So, if you are interested in the Icelandic brandy market, this research report will provide you with reliable, expert-verified and real market data you can safely and confidently base your decisions on. In a quick and hassle-free way, it will provide you with a strategic analysis of the market, its recent and future development. In addition, this solution will save you time and money while presenting you all the necessary information, empowering you to make informed commercial decisions and move your business forward!
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