Sales of Cognac increased in both value and volume in 2021, driven by demand in the US and China, according to industry association BNIC. Newer, dynamic markets like South Africa and Nigeria are boosting growth, while the cocktail culture are also proving to be a boon. And good news for the future, the 2021 harvest will allow the market to "sustain growth".
Industry body BNIC (Bureau National Interprofessionnel du Cognac) reports that Cognac sales increased 30.9% in value to more than €3.6bn in 2021. Volumes were up 16.2% on 2020, with 223.2 million bottles shipped by producers.
By market, some 115 million bottles of Cognac were shipped to the US - Cognac’s biggest export market – last year, an increase of 11.1%. Exports to China surged by 55.8% with 34 million bottles shipped. The market in Europe was up 8.1% with 37.1 million bottles, and France, the fifth biggest market for Cognac, registered 23.4% growth with 6.1 million bottles sold. The BNIC also points to newer, promising markets such as South Africa and Nigeria, which saw dynamic sales. And overall sales exceeded 2019 levels last year, with a 3.1% increase in volume and 1.6% rise in value in 2021 compared with 2019.
“This growth shows a real recovery of cognac, as well as new consumption habits,” the BNIC said in a statement. Cognac is said to be seducing a new consumer base in search authentic, quality products, notably with the development of cocktail culture.
"The demand for Cognac has never been as high in our markets as it was this past year. Despite weather uncertainties, the 2021 harvest allows us to sustain our growth, while all available data leads us to be reasonably optimistic for 2022," comments BNIC President Christophe Veral.
