The Republic of Ireland market accounts for nearly 2% of the Western European brandy market size. The market registered a compound annual growth rate (CAGR) of -0.2% during 2017-22 and -6.84% decline over 2021. According to GlobalData’s deep-dive analysis report, Republic of Ireland brandy market databook, cognac accounted for a notable share of 82% among various brandy segments in the market in 2022, followed by other grape brandy. The report also provides in-depth analysis and market forecast to 2027. Buy the report here.
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According to GlobalData’s company and brand analysis, LVMH Moet Hennessy – Louis Vuitton, Remy Cointreau and Pernod Ricard Group held significant shares in the Republic of Ireland brandy market in 2022. Concurrently, Hennessy, Rémy Martin and Martell led in terms of brand market share. LVMH Moet Hennessy – Louis Vuitton had the leading market share by volume in 2022. Companies operating in the Republic of Ireland brandy market continue to use innovation to target gaps in product offering. Continuous tracking of market size and company performance is important to help competitors capture and maximize profits.
GlobalData’s channel analysis reveals that food & drinks specialists were the key channel of purchase for brandy, along with hypermarkets & supermarkets. Also, on trade recorded a notable growth during the COVID-19 pandemic, as consumers were forced to stay at home due to restricted movement opportunities.
Food & drinks specialists constituted the highest market share by volume in 2022. Consumers preferred this channel for its product assortment and competitive pricing. Hypermarkets & supermarkets was the next preferred channel in the Republic of Ireland market.
Among the top Western European markets, Switzerland accounted for the highest volume share in 2022, followed by Norway, Germany, Finland, Spain, Republic of Ireland, the UK, Austria, Portugal, the Netherlands, Belgium, Greece, Italy, Denmark, and France.
With a growing number of consumers seeking to experiment with novel products, manufacturers and brands need to constantly innovate their flavours and formulations to remain relevant and competitive. Additionally, the popularity of e-commerce has made it easier for shoppers to compare product features and offerings across different brands.
To further understand and explore GlobalData’s insight into the brandy category and market forecast to 2027, buy the report here.
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