Product ID: UCMIG30E2012
Report ID:
UCMIG30E2012 |
Region:
Global |
Published Date: Upcoming |
Pages:
165
| Tables: 55 | Figures: 60
The global market for cognac was valued at USD 3.88 billion in 2019 and is projected to grow at a CAGR of 3.5% from 2020 to 2027. The increasing popularity of premium alcoholic beverages, particularly among millennials, is driving the market's expansion. One of the factors contributing to the rising demand for cognac is its exclusivity, similar to champagne, as it can only be produced in the Cognac region. The limited production region ensures that the grapes used for making cognac come from the same area, resulting in products influenced by the region's unique soil. In recent years, the consumption of alcoholic beverages has become a social norm during specific events and occasions, particularly in North America and Europe. Many individuals, including employees and students, engage in drinking activities, such as enjoying drinks with friends and colleagues after work or participating in a strong drinking culture on campuses.
This report is being written to illustrate the market opportunity by region and by segments, indicating opportunity areas for the vendors to tap upon. To estimate the opportunity, it was very important to understand the current market scenario and the way it will grow in future.
Production and consumption patterns are being carefully compared to forecast the market. Other factors considered to forecast the market are the growth of the adjacent market, revenue growth of the key market vendors, scenario-based analysis, and market segment growth.
The market size was determined by estimating the market through a top-down and bottom-up approach, which was further validated with industry interviews. Considering the nature of the market we derived the Brewers by segment aggregation, the contribution of the Brewers in Food, Beverage & Tobacco and vendor share.
To determine the growth of the market factors such as drivers, trends, restraints, and opportunities were identified, and the impact of these factors was analyzed to determine the market growth. To understand the market growth in detail, we have analyzed the year-on-year growth of the market. Also, historic growth rates were compared to determine growth patterns.
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Product ID: UCMIG30E2012