Cognac Sales On The Rise Worldwide
The premium drinks market is seeing a significant rise in demand as the worst effects of the pandemic subside. The BNIC has just released figures that show a 31% increase in cognac exports by value, equating to an increase of 16% by volume. These rises also compare favourably to the pre-pandemic demand in 2019. “This growth reflects a real recovery of cognac, as well as new consumption habits,” the BNIC said. Sales to the spirit’s largest market, the United States, climbed 11 %, sales to China, its second biggest, leapt 56 % whilst European sales were up 8%. Cognac sales are also growing in newer markets, particularly South Africa and Nigeria.
The news signals a bounce back for the spirit, which suffered plummeting sales during the early days of the pandemic. It was also aided in March last year with the 5 year suspension of tariffs between the EU and US, which lifted the crippling 25% duty which had been levied upon cognac among other brandies. Thankfully we have experienced a similar upturn with all of our premium brandies, and Hermitage Cognacs in particular.