Published on : Nov 25, 2016
Brandy has been gaining immense popularity in the last few years, thanks to its acceptance as a social drink. The rising demand for premium drinks and the rising popularity across the globe are anticipated to encourage the growth of the global brandy market. In addition, the rising distribution channels worldwide and the growing focus of key players on marketing activities and advertising campaigns are anticipated to accelerate the growth of the global market. On the flip side, the competition from other spirits is one of the key challenges in the global brandy market.
On the basis of pricing, the global brandy market has been classified into value, standard, premium, and super-premium. Among these, the super-premium segment is estimated to grow at a rapid rate in the next few years. The rising consumer preference for high-end premium and the rising disposable income are some of the primary expected to fuel the growth of this segment in the next few years.
Among the key geographical segments, Asia Pacific is likely to lead the global brandy market and account for a key share of the market. In this region, China, India, and Philippines are considered as key contributors of the global brandy market. Furthermore, Europe is expected to follow Asia Pacific and witness significant growth in the next few years.
The global brandy market is extremely fragmented in nature with a large number of companies operating in it. The market is expected to witness a high level of competition, in which the key players are competing on the basis of pricing, new product launches, and innovative packaging. The rising number of mergers and acquisitions and strategic collaborations is estimated to encourage the growth of the overall market. Several players are expected to enter the global market in the next few years and strengthen the competitive scenario.
Some of the key players operating in the global brandy market are Beam Suntory, Alliance Global Group, Highwood Distilleries, Gruppo Campari, Amrut Distilleries, Radico Khaitan, Heaven Hill, Constellation Brands, Remy Cointreau, Herman Jasen, Tilaknagar Industries, Shiva Distilleries, and Pernod Ricard.