MARKETING/DESIGN/CONSUMER TRENDS/INSPIRATIONS Cognac & Brandy News for Consumers & Industry Experts
2010 was a record year for Cognac, as shipments reached an all-time high of 1.86 billion Euros (£1.58 billion).
The Bureau national interprofessionnel du cognac (BNIC) said the value of its shipments grew by almost 30% in 2010, representing 12.8 million cases or 153 million bottles and an increase of 17.9 % in volume.
Superior quality Cognacs (VSOP, XO and exclusive blends) now represent over half of the total market at 54.5%. The XO category grew by 36.6 % and VSOP by 27%, with VS showing 6% growth over the year.
The 2010 figures show the global market for Cognac is still spread between three major geographical zones. The Far East, which accounts for 33.2 % of the world market in volume, saw sustained growth at +34.3% over the year. This now makes Asia Cognac’s biggest market in volume (4.42 million cases), having held first place in value since 2008.
The USA, Canada and Mexico, with 32.2% of the world market, performed well in 2010, particularly in the USA, which is still the world’s biggest market in terms of consumption (3.89 million cases in 2010). The taste for Cognac among Afro-American and Hispanic consumers plays a major part in Cognac’s consistent growth in the USA.
Europe, where shipments reached 30.5% of world volume (3.89 million cases), grew by 11.7 % in 2010. On the home market, where Cognac has been suffering for some time, French shipments are up by 18.3%.