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Brandy Market is Set to Grow at a Cagr of 12.4% During Forecast Period of 2021-2026
HYDERABAD, TELANGANA, INDIA , September 23, 2022 /EINPresswire.com / -- IndustryARC, in its latest report, predicts that Brandy Market is set to grow at a CAGR of 12.4% during the forecast period of 2021-2026. The demand constituted by brandy industry accumulated to $1721.1 Million in 2020. Brandy is obtained by distilling wine, fruit juices and mashes that have a minimum alcohol content of 35% and a maximum of 60%. The manufacturers can provide different flavors like caramel and gingerly, by ageing them for 3-20 years in an oak barrel. Brandy offers certain health benefits if ingested in the right proportion. Par example, brandy can improve immunity, and reduce the skin ageing owing to the presence of antioxidant and polyphenolic compounds. Owing to its anti-bacterial properties, brandy is often given to suppress cough and cold. It is also used by the restaurants as a digestif, distilled wine, post meal owing to the presence of compounds which improves digestion. The brandy market share is set to reign, owing to its cross-industrial use in the forecast period of 2021-2026.
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This IndustryARC report on the Brandy Market highlights the following areas -
1. North America dominated the brandy industry in the year 2020, owing to a surge in demand in the confectionary and beverages, and the off-trade businesses accommodated the demand during lockdowns.
2. Increasing preference of the millennial generation for trying different varieties via cocktails will drive the brandy industry forward.
3. Detailed analysis of the Strength, Weaknesses, and Opportunities of the prominent players operating in the market will be present in Brandy Market Report.
Companies operating in the brandy industry will have to face stiff competition from different companies within region and across the globe as well.
4. COVID-19 lockdowns have prevented the bars and clubs to operate as usual, hindering the sale of brandy and other products via cocktails and neat.
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1. By distribution, the brandy market can be segmented into two subcategories namely, off-trade which includes supermarkets, hypermarkets, online stores and discount stores; while on-trade includes restaurants, liquor stores and bars.
2. The brandy market is segmented into four sub-categories on the lines of product types, namely, Cognac, Armagnac, Fruit Brandy and others.
3. By Geography, North America dominated the overall segment with a share of 36.1% in the year 2020. The reason for the surge in demand is associated with the rise in distillery and craft drinks in the millennial population.
The top 5 players in the Brandy industry are -
1. Courvoisier (Beam Suntory Inc.)
2. F. Korbel & Bros
4. Speciality Brands Ltd.
5. Rémy Cointreau
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