The global Cognac market is expected to almost double in value between now and 2032, according to a new report from Fact.MR.

According to the research from Fact.MR, the global Cognac market is expected to almost double in value between now and 2032。

The current global market for the prestigious French brandy was valued at US$5.5 billion in 2022, and by 2032 it will be worth around US$10.2bn.

The driving force behind this projected growth (predicted at a rate of 6.4%) is expected to be growing interest in the spirit from millennial consumers, those born between approximately 1981 and 1996 – the same demographic that has driven the boom in sales of Provence rosé.

Indeed, the Bureau National Interprofessionnel du Cognac (BNIC) has made efforts to undo the ‘stuffy’ reputation that Cognac sometimes has, by showing its potential in mixology.

As for where this growth will come from, the report pointed out that Asia Pacific is expected to grow at a Compound Annual Growth Rate (CAGR) of 4.0%.

The US remains the leading international market for Cognac, and it is expected to get bigger between now and 2032, with a predicted CAGR of 4.9%.