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Brandy Expected to Grow Market Value

By April 26, 2023Top News

The global brandy market is expected to witness a market value of $4.3 billion USD in 2023 and is expected to accumulate a market value of $6.9 billion by registering a CAGR of 4.7% in the forecast period of 2023 to 2033. The Brandy Flavor market registered a CAGR of 2.6% in the historical period of 2018 to 2022. Future Market Insights, a market research and competitive intelligence provider, said market growth is expected to be driven by the increasing demand for alcoholic beverages, changing consumer preferences toward premium and flavored products, and increasing awareness of health benefits associated with moderate consumption of brandy and the increasing number of bars and restaurants offering brandy-based cocktails. The growing popularity of artisanal and craft spirits is also expected to fuel the brandy market, as is the rising trend of home-based mixology in the post-COVID-19 era.




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