Cognac sales jump 31% as drinkers go upmarket

Sales of the brandy, produced in the Cognac region of France, rose by almost 31% in value to 3.6-bn euros , industry group BNIC said on Monday."This growth reflects a real recovery of cognac, as well as new consumption habits," BNIC said in a statement, noting sales had also risen compared with 2019, before the pandemic struck.The news comes after France's champagne industry said last month it expected record sales in 2021, and follows strong results from several spirits companies.

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

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