- Published on Thursday, 02 February 2012 10:44
- Written by Gemma McKenna
Cognac had a record-breaking year in 2011 spearheaded by a rise in Chinese consumption - global sales grew 6.4% on the previous year.
Figures issued by the Bureau National Interprofessionnel du Cognac showed shipments of 163 million bottles, and an increase in sales of higher quality Cognacs.
Cognac sales exceeded 2 billion Euros, with XO growing by 15.3% and VSOP by 7.9%.
The Far East represents the lion’s share of the global market by volume and value, accounting for 36% sales. It grew faster than any other region - up 14.4% in the last year. China saw another surge in consumption buying 22.6 million bottles - a rise of 20% on the previous year.
The USA, Canada and Mexico, which accounts for 31% of the world market in volume, continues to be “buoyant”, up 3.2%. The USA remains the single biggest importer of Cognac in the world, and bought 48.4 million bottles in 2011.
Sales to Europe, with 28.8% of the world market by volume, remain stable.