LONDON, February 19, 2018 /PRNewswire/ --
Cognac sales will continue their remarkable recent momentum, with gains set to persist in North America and China supported by a resurgence in Russia, says a new report
The Global Cognac & Brandy Insights report from just-drinks and the IWSR also expects consumption of premium-and-above non-Cognac brandy to increase over the next five years, although the overall market's recent declines will persist. This part of the Cognac & brandy category is skewed by the vast brandy markets of India and the Philippines, accounting for well over 100m cases in annual sales, both of which are declining - and overshadowing more buoyant trends in South Africa and Russia.
Meanwhile, Cognac has recovered from the impact of austerity measures in China, returning to growth in the key areas of Guangdong and Fujian. Meanwhile, on the other side of the world, consumption has reached record levels in North America.
Both of these phenomena are having ripple effects: Cognac consumption is on the up across Asia and Australasia thanks to the influence of Chinese communities and visitors there, as Cognac's association with glamorous lifestyles among African-Americans in the US is increasingly driving growth in the Caribbean and Africa.
As a result, Cognac sales are expected to continue their recent growth, topping 17m cases a year by 2021, thanks to continued momentum in the US and China, supplemented by consumption gains in Russia, South Africa, Canada, Indonesia, Nigeria and India.
About the IWSR
The IWSR is the leading source of data and analysis on the beverage alcohol market. The IWSR's database, essential to the industry, quantifies the global market of wine, spirits, beer and mixed drinks by volume and value, and provides insight into short- and long-term trends. Our data is used by all of the largest multinational companies, as well as many more local companies. The IWSR's unique methodology allows us to get closer to what is actually consumed and better understand how markets work. The IWSR conducts face-to- face interviews with over 1,500 companies in 118 countries each year, with further input from 350 companies. The IWSR tracks overall consumption and trends at brand, quality and category level. The IWSR Magazine, written by the IWSR's specialist international analysts, features industry news, new products, interviews with key industry players and in-depth market analysis based on unique access to the IWSR's data.
just-drinks.com is the online news, insight and research portal for the global drinks industry. Our editorial team includes contributors from around the world, while our commentators comprise experts in their respective fields of beer, bottled water, soft drinks, spirits (both brown and white) and wine. Under the direction of managing editor Olly Wehring, we offer an impartial voice and are driven by our passion for the drinks industry.
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SOURCE just-drinks and The IWSR