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Drinks

Cognac Sales Jump 31% As Drinkers Go Upmarket

By Dave Simpson

Cognac sales surged by a nearly a third last year as American and Chinese drinkers guzzled old vintages, in the latest sign that premium drinks makers are putting the pandemic behind them.

Details

Sales of the brandy, produced in the Cognac region of France, rose by almost 31% in value to €3.6 billion, industry group BNIC has said.

Volumes were up 16% to 223.2 million bottles.

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"This growth reflects a real recovery of cognac, as well as new consumption habits," BNIC said in a statement, noting that sales had also risen compared with 2019, before the pandemic struck.

The outlook should remain positive in the coming months for all destinations, BNIC added.

The news comes after France's champagne industry said last month that it expected record sales in 2021, and follows strong results from several spirits companies.

Markets

Cognac sales to its largest market, the United States, climbed 11%, with 115 million bottles shipped in 2021.

Sales to China, its second biggest, leapt 56% with 34 million bottles shipped, while European sales were up 8% to reach 37.1 million bottles.

Brands

In late November, spirits group Remy Cointreau raised its full-year profit forecast after a better-than-expected first half, driven by strong demand for its premium cognac in China, the United States and Europe.

Pernod Ricard, which owns Martell cognac, also pointed to a jump in sales in China.

2021 Harvest

The 2021 harvest, at 867,312 hectolitres, was within the 10-year average and should support further growth for the sector, BNIC said.

News by Reuters, edited by Hospitality Ireland. Click subscribe to sign up for the Hospitality Ireland print edition.

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