Over the last year figures from the Bureau National Interprofessionnel du Cognac suggest that Cognac sales have reached their highest-ever sales volumes and values with some 15.9 million cases or 190.2 million bottles of Cognac purchased over the last year (up 10.2% in volume) which puts global turnover for Cognac at around €3 billion, up 15.2% in value.
Interestingly, only about 2% of global Cognac production is consumed in its home market of France. The rest – 97.7% – is exported to 160 countries around the world.
But in Europe consumption volumes were up 10.1% to 3.5 million cases and values were up 8.1% according to BNIC figures.
A recent report from the IWSR suggests that the freeing up of Cognac stock has helped fuel growth in the UK, Germany, Ireland and Sweden.
Cognac in Ireland
The Irish consumer too has a soft spot in their wallet for Cognac. Despite it’s small consumer base Ireland still ranks in the top 21 markets for Cognac exports.
In the year to October Ireland had shipments of 1.2 million bottles or 100,000 cases. Nearly all of this (98%) was VS Cognac.
This ties in with IWSR figures for Cognac in Ireland which suggest that Cognac saw growth of 4% between 2015 and 2016 from 105,300 cases to 109,500 cases. IWSR predicts that the CAGR rate is set to increase by 1.7% between 2016 and 2021.
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