The US and China buy the most Cognac

The world’s top buyers of Cognac are the US and China. The US imported 115 million bottles of French brandy in the 12 months before October 2021, an increase from pre-pandemic levels worth about $600 million. Cognac is somewhat of a status symbol in China and if recent trends hold, China could unseat the US as the world’s top buyer in the coming years.

France is exporting more alcohol

Cognac isn’t the only French alcohol finding more popularity around the world. Wine and champagne sales are also higher than they were before the pandemic. Riding out the pandemic, Americans drank more champagne and Cognac. Consumers stocking up in anticipation of a shortage may also be part of the rising demand for wine. France faced its smallest harvest in decades last year. Or perhaps, pandemic alcohol consumption has motivated some to drink less, but drink better.

BNIC predicts the future market for Cognac will continue to grow. “Cognac remains marked by a very strong momentum,” said BNIC president Christophe Veral. Going into 2022 the industry is optimistic. According to BNIC, the 2021 harvest for grapes that make Cognac was near normal levels.

📬 Sign up for the Daily Brief

Our free, fast, and fun briefing on the global economy, delivered every weekday morning.