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Why cognac brand owners are keeping their faith in the US and China as headwinds remain – Category Intel

Richard Woodard
Last updated: 04/04/2024 at 11:11 AM
By Richard Woodard
4 April 2024
8 Min Read

Ask anyone in the cognac industry about the category’s two largest export markets and you’ll sense a cautious optimism. At the same time, green shoots of growth are on show in several emerging African and Asian countries.


Cognac poured into a glass at Hine 's cellars
Credit: CK Mariot Photography

Ask anyone in the cognac industry about the category’s two largest export markets and you’ll sense a cautious optimism. At the same time, green shoots of growth are on show in several emerging African and Asian countries.

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In these challenging times for the beverage alcohol industry, cognac has been one of the most high-profile casualties. The figures from trade association the Bureau National Interprofessionnel du Cognac speak for themselves: in 2023, shipments fell by 22.2% to 165.3m bottles, with value dropping 15% to EUR3.35bn (US$3.67bn).The NAFTA region - the US, Canada and Mexico - registered the steepest declines, with volume almost halving and value down by more than 40%. More positive double-digit increases in the Far East and the elevation of South Africa to become cognac’s fifth-largest ma

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Richard Woodard
ByRichard Woodard
Former newspaper journalist Richard Woodard has been writing about the global wine and spirits industry for 25+ years, and is a regular contributor to a number of magazines and websites.
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