Cognac sales increased by almost a third last year as US and Chinese consumers bought the beverage in large quantities. This is a sign that premium spirits manufacturers are overcoming the pandemic.
Sales of the brandy, produced in the Cognac region of France, increased by almost 31% reaching a valuation of $4,100 million dollars, the group said on Monday industrial BNIC.
Volumes increased by 16% or 223,2 million bottles.
“This growth reflects a real recovery of cognac, as well as new consumption habits”, said BNIC, noting that sales also increased compared to 2019, before the pandemic hit.
The outlook should remain positive in the coming months for all countries, BNIC added.
Cognac sales in its largest market , which is the United States, increased by 11%, with 115 million bottles shipped in 2021, from according to CNN.
Sales to China, the second largest country in consumption, increased by 56%, with 34 million bottles shipped, while sales in Europe increased by 8%, to 37.1 million bottles.
At the end of November, the Beverage group Remy Cointreau raised its full-year profit forecast after a better-than-expected first half, boosted by strong demand for its premium cognac in China, the US and Europe.
Pernod Ricard, owner of Martell cognac, also noted an increase in sales in China.
You may also be interested in:
–KFC is accused in China of causing unnecessary food waste
–Coca Cola, Pepsi and other major brands call for a global pact to prevent plastic pollution
–Netflix raises prices in Est United States and now the basic plan costs $9.99 per month
–Scams on Amazon have increased by 500% since last year