PUBLISHER: Grand View Research | PRODUCT CODE: 1474971
PUBLISHER: Grand View Research | PRODUCT CODE: 1474971
The global brandy market size is anticipated to reach USD 35.16 billion by 2030 and is projected to grow at a CAGR of 6.8% from 2024 to 2030, according to a new report by Grand View Research, Inc. The market is witnessing a notable surge in recent years. One significant contributor to the growth is the ongoing trend of premiumization and the burgeoning craft movement within the spirits industry. Discerning consumers increasingly seek out artisanal and high-quality products, prompting brandy producers to innovate with unique flavors, production methods, and branding strategies. This diversification of flavor profiles, ranging from experimental blends to fruit-infused varieties, has expanded the appeal of brandy, enticing consumers to explore the category further.
Moreover, the rise of cocktail culture has played a pivotal role in driving brandy consumption, as mixologists and enthusiasts incorporate it into an array of sophisticated cocktails. The versatility of brandy as a cocktail base, coupled with its association with elegance and tradition, has made it a favored choice for social gatherings and events.
In addition, the perception of brandy as a potentially healthier alternative to other spirits, along with its global market expansion, has contributed to its growing popularity across diverse demographics and regions. Manufacturers are continuously innovating to introduce new flavors and experiences within the brandy category, leveraging a variety of techniques and ingredients to captivate consumer interest. For instance, Remy Martin, a renowned brandy producer, introduced Remy Martin Carte Blanche Merpins Cellar Edition, showcasing the expertise of the cellar master in selecting exceptional eaux-de-vie. This limited edition release offers a refined flavor profile with notes of orchard fruits and subtle oak nuances, embodying the brand's commitment to craftsmanship and quality.