However, many producers found themselves under financial pressure with the Chinese government's crackdown of conspicuous consumption and the 1997/98 SARS epidemic.
Cognac has once again broken through its previous difficulties and according to just-drinks.com research the market witnessed strong growth across all continents and categories in 2006.
For the latest edition of just-drinks' global market review series Global Market Review of brandy and Cognac - forecasts to 2011, Eric Benoist marketing director of Martell was interviewed and he explained that today's growth is far broader based than in the past, "Asia is still the primary driver of growth, at least Martell's growth, but what is also interesting is that we are seeing lots of new markets or smaller markets that are also driving growth. I'm thinking especially of Eastern Europe, but also South Africa and Mexico. These markets were hardly on our radar screen until recently. They are starting to deliver very robust growth."
According to data from International Wine and Spirit Record (IWSR) the global brandy market reached 130.1 million nine-litre cases in 2005, up from 115 million cases in 1995. Within this market Cognac sits relatively small with an estimated 11.7 million cases in 2005.
The first edition report published in November 2007 covers various aspects of the global brandy and Cognac sector, including a complete review of the global market, examination of trends within the sector, an overview of the travel retail sector, with an interview from Duty Free Americas' director of liquor buying and merchandising Jon Bonchick. Shipping levels, Cognac hybrids, pricing trends and competition are also covered in this report along with sales forecasts of Cognac until 2011.
For more information on the Global market review of brandy and Cognac - forecasts to 2011, visit: http://www.just-drinks.com/brandy_cognac
Source: eMediaWire.com
