Cognac Market Set to Reach US$10.2 Billion by 2032: Growing Demand for Premium Spirits Drives Expans

The cognac market is predicted to reach US$ 5.5 billion in 2022 and increase at a compound annual growth rate (CAGR) of 6.4% from 2022 to 2032. By 2032, the value of the world's cognac market is projected to reach US$ 10.2 billion.

In the upcoming years, the cognac market is anticipated to expand due to millennials' widespread consumption of luxury alcoholic beverages. One of the main reasons why handmade products are becoming more and more popular is their exclusivity in the cognac producing process. Like champagne, cognac production is strictly restricted to the territory in which it is produced. Because of this, the grapes used to manufacture cognac are all from the same area, and the soil in that area has an impact on these products.

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