Like all segments of the spirits industry, Brandy has suffered from the lockdowns of the pandemic and the inflation that followed the invasion of Ukraine. It can't be said that the segment has fully recovered. Brandy is a type of spirit distilled from wine. Cognac and Armagnac are renowned varieties often generalized as French brandy. Although France is known for its production of these varieties, brandy is produced and consumed all over the world.
Brandy is suffering a decline
Brandy is one of the smaller
spirits markets in the United States. The industry is dominated by vodka and whisky. Brandy accounted for 16.6 percent of sales in 2022 with a value of 8.6 billion U.S. dollars. The value price tier, the lowest price tier, currently represents the largest portion of
volume in the market but it is has not been spared by the contraction in sales that all segment are experiencing. High end premium, the second highest price tier, experienced the greatest reduction in
sales volume, shrinking by of over 20 percent in 2022 compared to the previous year. Moet Hennessy, the manufacturer of Hennessy cognac, held the largest
share brandy volume in the U.S. in that year.
Consumption is down for the first time
The total
volume of brandy consumption in the United States has been increasing for years, even though the first years of the pandemic. This changed in 2022, when volume declined for the first time to 15.1 million 9 liter cases.
Per capita volume also declined slightly to 0.82 liters. The vast majority of
U.S. brandy drinkers are higher income earners, with over 51 percent earning 75 thousand U.S. dollars or more per year.
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