Cognac Sales Up 31% In 2021

Cognac’s biggest market, the US, saw the liquid’s sales climb by 11.1% in 2021 Cognac sales saw a 31% rise in value last year, with volumes of the spirit increasing by 16.2% to 223.2 million bottles, the BNIC has revealed.

Christophe Veral, president of the BNIC, noted that demand for Cognac “has never been greater in our markets than this year.” He said despite weather uncertainties, last year’s harvest allowed a “continuation” of growth.

Despite the health and geopolitical uncertainties, this growth reflected recovery for Cognac, as well as new consumption habits, the BNIC said in a statement.

Cognac exports to the US, the largest market for the category, climbed by 11.1% with 115 million bottles shipped in last year.

Cognac’s second biggest market, China, saw a 55.8% boost in sales with 34m bottles shipped.

Meanwhile, sales in Europe jumped by 8.1% to reach 37.1m bottles in 2021. Within this region, France, which is the fifth largest market for Cognac, saw a 23.4% rise in sales as 6.1m bottles were sold.

In a statement released on Monday 17 January, the BNIC commented that with the development of mixology, Cognac is attracting new consumers who are searching for quality products.

The report also cited South Africa and Nigeria as new markets.

The BNIC also said that the outlook for the category was ‘positive’ for the coming months in all regions.

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FIVE LAWS IMPACTING THE DRINKS WORLD IN 2021

Five Laws Impacting the Drinks World in 2021

http://www.spiritedbiz.com/five-laws-impacting-the-drinks-world-in-2021/

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Help Us Give Back This Holiday Season with Les Dames d’Escoffier Ontario 2020 “Festive Gift Basket” Fundraiser-Auction

Les Dames d’Escoffier Ontario 2020 “Festive Gift Basket” Fundraiser-Auction  @ 32 Auctions

We have 23 “Holiday Gift Baskets” to be auctioned off !!

Auction dates:
December 3, 2020 at 09:00 AM EST to December 12, 2020 at 05:00 PM

Auction Link https://www.32auctions.com/LesDamesON

Items have been donated by members, partners, and Women in Wine Talks participants.

Donors

http://www.tenutasanguido.com/

www.antinori.it

www.chateau-lalagune.com

https://www.warwickwine.com/

https://www.cactusclubcafe.com/

https://www.frenchporium.com/

https://www.linkedin.com/company/womeninwinetalks/

https://www.liz-palmer.com/

Donna Lee-Rosen

Jenny Ratcliffe Wright

Heather Zordel

Shari Mogk Edwards

Doris Miculan Bradley

Anonymous

Les Dames d’Escoffier Ontario is a not-for-profit corporation and an affiliate chapter of Les Dames d’Escoffier International.

We are part of a philanthropic organization of women leaders in the multifaceted fields of gastronomy, fine beverage and hospitality. Our by-invitation membership is composed of over 2,400 members in 43 chapters including: United States, Canada, the United Kingdom, France and Mexico.  We create a supportive culture in our communities by sharing knowledge, supporting members, and providing leadership, educational opportunities and philanthropic events for the community-at-large.

 About Our Auction

All proceeds raised at our Les Dames d’Escoffier Ontario 2020 “Festive Gift Basket” Fundraiser-Auction will fund 2020/2021 educational scholarships, bursaries and assist in operations.

Thank you for your support – It’s time for Holiday shopping!

Auction Link https://www.32auctions.com/LesDamesON

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Why has confidence in fine wine increased in 2020?

Despite the headwinds of 2020 – tariffs, Brexit uncertainty and the global pandemic – the wine market has remained robust. Today’s post examines what has changed and offers an explanation as to why we are seeing greater confidence in the market during these exceptional times.

Increased liquidity

One of the key changes this year is an increase in market liquidity, which is reflected in the rising value of bids and offers on the Liv-ex marketplace. The total exposure (total value of bids and offers) reached a new record high of £81 million last week – a £30 million increase this time last year.

In recent months, both bids and offers have been on the rise. The bid to offer ratio (i.e. the total value of bids divided by the total value of offers) currently stands at 0.6. Traditionally, a bid-offer ratio of 0.5 or higher suggests positive sentiment.

A broadening market

Another noticeable difference is that more wines than ever are attracting buying interest, taking market share from the traditional strongholds of Bordeaux and Burgundy. As the chart below shows, the wine market has undergone considerable broadening in the past decade. Bordeaux’s share has halved from its peak in 2010 when it accounted for 95.7% of secondary market trade by value. As its share declined, others shined. Burgundy was the first and main benefactor; its trade share rising from 0.6% in 2010, to a record high of 19.7% in 2019. It has dipped slightly this year to 17.4%.

This year, Italy has been the big winner. Having reached an annual average of 8.8% in 2019, Italy now accounts for 15.3% of fine wine trade. As recently highlighted, the US wine market is also developing at unprecedented rate. USA accounted for just 0.1% of trade in 2010. Year-to-date, it stands at 7%.

And then, there is the Rest of the World – an increasingly diverse category. Up from 0.8% in 2010 to 5.9% in 2020, RoW trade so far in 2020 has been led by trade for Australia (1.8%), Spain (1.4%) and Germany (1%), though wines from Argentina, Austria, Chile, and Portugal to name but a few are seeing more and more activity.

What has changed?

So, why are we seeing such increased confidence in the wine market? One well-documented explanation is that investors are seeking to put their money into safer assets in these uncertain times. Historically, fine wine has offered steady returns and low volatility.  Another explanation is that there are simply more market participants than ever before. The number of wine businesses trading on Liv-ex has increased 15% in 2020 alone. This increase in members reflects a growing trend since the Covid-19 pandemic took hold – businesses are looking for web-based solutions to grow their sales.

One such solution is trading automation. Trading automation makes it easier for merchants to list stock for sale, exposing their diverse inventory to an ever-growing marketplace. Regions that once struggled to find a secondary market have been benefitting from the shift to online sales, particularly as lockdowns have closed much of the physical retail. Through APIs, stockholders have been able to list and advertise various wines to a far greater audience, as merchants have connected their customers to this ever-broadening market. Subsequently, wine merchants and private collectors have been able to find less well-known wines from a greater range of wine regions.

Despite an early swoon as the first lockdown took place, the fine wine market would seem to be in a relatively healthy place today. As a tangible, finite asset, it offers stability in a volatile world. It also of course offers a great deal of pleasure for imbibers who are locked down and deprived of their usual wining and dining! And importantly technology, as in so many sectors, has helped merchants from across the globe, to adapt, making wine more accessible and more exciting to all with an interest in it. Combined, these three things have put the wine market on a firm footing in 2020.

Source: Liv-ex

 

 

2020 Cognac Trend Predictions

Cognac continues to evolve globally given the interest in craft cocktails, particularly in pre-prohibition cocktails. With the United States being the first cognac market (102.4 million cognac bottles imported in 2019) it has diversified the many ways cognac can be consumed, from sipping it neat to using it as the base for trendy and originating cocktails. A recent study by Beverage Dynamics points to millennials spending up for premium spirits and cocktails. In the past 12 months, spirits priced $25 and up have increased in sales by 13.2%.

With millennials favoring the full imbibing experience—with an emphasis on ingredients — bartenders and stirrers are shifting with the trends.

COGNAC EDUCATORS FROM AROUND THE COUNTRY SHARED TRENDS THEY CURRENTLY SEE AND PREDICT FOR 2020

LESS DRINKING, HIGHER QUALITY

Dan Nicolaescu, Beverage Director of Brandy Library and Copper and Oak (New York, NY)

It is my experience that, generally speaking, people are drinking less but of higher quality. I see interest in trying cognac growing steadily, especially towards neat pours. It seems that preferences steer toward cognacs with a lighter wood influence but fairly well developed, in the 10-25 years range.

As far as cocktails go, I can envision bartenders focusing on quality by using small quantities of high-quality old cognac as an accent in a drink. It can provide unique flavors to the final product and is also more financially sensible.

MODERN MIXOLOGY SIMPLIFIED

Miguel F. Lancha, ThinkGoodGroup Cocktail Director (Washington, DC)

One trend that I have seen working with cognac is younger bartenders are showing an interest in wanting to learn about it, whether it’s at a bar training session or an industry seminar.

The interest in classic cocktails has been around for a while now, but many bartenders are going back to being more flexible and creative with cocktails. I see an opportunity for guests to be more exposed to cognac by trying drinks that combine it with cool techniques. Bartenders are continuing to modify the textures and structures of drink components by clarifying, carbonating, making a slushy, etc. They’re doing it in a way that’s not in your face or over the top, which is intriguing guests and exposing them up to Cognac in cocktails.

PRESENTATION WITH LEVITY

Kellie Thorn, Hugh Acheson Restaurants Beverage Director (Atlanta, GA)

While we are still having a hard time getting guests to order cognac on its own the way they do whiskey, we are seeing a lot of cognac cocktails sell.

I think that the key to reaching a younger audience is presenting the spirit and category with some levity. I obviously love the heritage and tradition behind these spirits, but we should approach it with a little irreverence.

Split your pour of cognac neat with some amaro, think of more tropical applications, add it to your spritz build, and in general make cognac feel like something that doesn’t have to have a lot of pomp and circumstance around it to enjoy it.

LOWER-ABV COCKTAILS

Joseph Erhmann of Elixir, Elixir to Go and Cocktail Ambassadors (San Francisco, CA)

There is an opportunity for cognac to take advantage of its great flavor intensity by mixing shorter pours (.5-1 ounce) with light mixers, like the multitude of uniquely flavored tonics to make low- ABV drinks. I particularly like a VSOP with Fever-Tree Aromatic Tonic and expressed lemon oil or a young, fruity VS with a dry grapefruit soda like Q Grapefruit.

https://www.cognac.fr/