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Cognac Sales On The Rise Worldwide

cognac salesThe 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.

Cognac Sales Grow in US and China

On Trade spirit sales are outperforming beer and wine in the US, according to Nielson. The steady growth was driven by cognac, Irish whiskey, tequila and single malt scotch. Cognac sales led the way with an impressive 31.1% in volume growth and 36.8% in value being reported during the last quarter. Clearly cognac’s popularity in the US continues to burgeon. China has also recently posted positive figures. Spirits imports registered growth in November 2016 representing a 41.8% volume increase and a 77.9% value increase compared with November 2015. Brandy was credited with being the driving force behind the upturn – yet more good news for the cognac industry.