HomeWorld NewsCognac sales jump 31%, thanks to the US and China

Cognac sales jump 31%, thanks to the US and China

Sales of the brandy, produced in the Cognac area of France, rose by nearly 31% in worth to 3.6 billion euros ($4.1 billion), trade group BNIC stated Monday.

Volumes have been up 16% to 223.2 million bottles.

“This growth reflects a real recovery of cognac, as well as new consumption habits,” BNIC stated in an announcement, noting sales had additionally risen in contrast with 2019, earlier than the pandemic struck.

The outlook ought to stay optimistic in the coming months for all locations, BNIC added.

The information comes after France’s champagne trade stated final month it anticipated report sales in 2021, and follows robust outcomes from a number of spirits corporations.

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

Sales to China, its second largest, jumped 56%, with 34 million bottles shipped, whereas European sales have been up 8%, to 37.1 million bottles.

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

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

The 2021 harvest, at 867,312 hectolitres, was inside the 10-year common and ought to assist additional development for the sector, BNIC stated.

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