PRN: Slowing West Fails to Tarnish Cognac's "golden age" - Research
Slowing West Fails to Tarnish Cognac's "golden age" - Research
BROMSGROVE, England, March 12, 2012 /PRNewswire/ --
From the somewhat depressing perspective of recession-ravaged Europe, the idea of any sector of the premium spirits market enjoying a golden age may seem somewhat surprising. But, thanks to the contrasting fortunes in the emerging Asian markets, Cognac is experiencing precisely that, according to a new report from The IWSR and just-drinks.
It may be hard to credit, as Europe and the US continue their sluggish recovery from the global downturn, but these are buoyant times for Cognac, a premium spirit associated in the past with economic prosperity, boom years and conspicuous consumption. While the Louis XIII may not have been flowing all that freely in London and New York in recent years, Cognac sales are booming in the Asia Pacific region, according to 'The Global Market Review of Brandy and Cognac - Forecasts to 2016', published last week.
Growth in Asia and the travel retail channel has allowed Cognac to enjoy such good times while other premium-orientated consumer goods sectors have endured recession-induced misery. Asian markets weathered the recession much better than Western markets: With economic growth, millions more Asian consumers - particularly in China and India - are entering the middle class every year. Armed with disposable income, these new consumers are seeking out products such as Cognac or Scotch whisky that are a reflection of that new status. Cognac is in "the throes of a new golden age", the report claims.
The spirit's strong growth in Asia, however, has coincided with a contraction in European markets, leading many to conclude that the sector is operating at two speeds, with the balance of consumption continuing to shift from west to east.
Containing around 40 tables, The IWSR's proprietary brand volumes and market forecasts, exclusive interviews with the top global brands, and all the invaluable insight one would expect from the drinks publishing experts IWSR and just-drinks, this 26,000-word report provides fundamental market and brand data for your market planning and analysis work in this category.
Established in 1999, just-drinks is a leading online resource for global beverage industry, publishing around 20 news articles, analysis features and insights every working day. Under the direction of Managing Editor Olly Wehring, its experienced team of journalists, consultants and analysts provide a unique blend of reports and interpretation of the beverage industry, including key events, trends, interviews and research that is delivered to over 92,000 business executives per month.
Via its web site, webinars and in-depth management briefings just-drinks offers insight into soft drinks, wine, beer, liqueur and whiskies industry developments and supply-chain trends, brand and corporate strategies, CONSULT research platform, enterprise technologies such as PLM and ERP. Furthermore, just-drinks supplies news on manufacturing developments and how the drinking industry retailers perform around the world.
For details of how just-drinks is "helping decision makers make decisions" visit http://www.just-drinks.com.
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