Cognac Market Assessment to Deliver Enhanced Sales Supported by Rising Consumer Preference: 2019-2027

Fact.MR, in its latest research, reveals that ~ 210,890 thousand bottles of cognac were sold in 2018 and the sales are likely to grow by ~5% YOY in 2019. According to the report, cognac is successfully outgrowing the phase of being an occasional drink and is being savored more often, on account of its artful convergence of subtlety and authenticity. This will continue to lift the cognac market revenues to new heights through 2027, with the top five market players commanding for a significant share of it.

According to the report, consumer proclivity for premium liquor is estimated to bring in new profits pools for the market players to dive in. Premium alcohol varieties are well-known for their viscosity, texture, and flavor, which gives them an edge over the ordinary liquor grades. Consumers, especially millennials, are increasingly drawn to premium liquor and are more than ready to lose themselves into extravagant experiences. Budding appetite for premium liquor is likely to promise new opportunities for the cognac market players in 2019 and beyond, finds the Fact.MR research study.

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The study finds that VS (very special) grades accounted for over ½ of the overall cognac sales in 2018, and the category is estimated to see exorbitant demand through 2027. VSOP (Very Superior Old Pale) remains the second most popular cognac grade among consumers, however, the XO (Extra Old) grade is likely to upend the scenario and witness exponential demand by the end of 2027.

Market Players Experiment with Innovations to Vitalize Product Positioning

The report finds that restaurants & pubs will clearly stand out with significant demand for cognac varieties, followed by the household & residential buyers and the institutional buyers. Restaurants and pubs remain continuously focused on devising effective strategies that would boost their overall footfall, and redesigning of their menus by adding premium brandies is one of them. In addition, restaurants and pubs are also drawing upon the trend of ‘brandy-infused cocktails’ and cognac continues to be the most-preferred choice among all other types of brandy.

To lift their sales performance to newer heights, several cognac brands are focusing on bespoke innovations while mastering the art of consumer engagement. For instance, Martell has been working on upgradation of its product pipeline with the release of ‘Blue Swift’, a VSOP expression matured in French oak casks and finished in Kentucky Bourbon barrels.