Cognac exports to North America slide 34%
Global exports of Cognac plunged in volume and value by double digits last year after tariffs hindered the category’s two biggest markets.
Data from trade body the Bureau National Interprofessionnel du Cognac (BNIC) revealed a decline of 15.1% in global Cognac shipments to 141 million bottles last year.
In terms of value, the category’s global shipments plunged by 25.3% to €2.24 billion (US$2.6bn).
The BNIC noted declines for all Cognac segments in 2025: VS (down by 16.2%), VSOP (down by 11.5%) and XO and above (down by 23.2%).
The trade association attributed the performance to the imposition of taxes in Cognac’s two leading markets, the US and China.
In July 2025, anti-dumping duties averaging 32.2% were imposed on Cognac shipments to China in retaliation for European tariffs on Chinese electric vehicles. Over the 18-month investigation period, the Cognac sector recorded a 25% loss in the Chinese market, the BNIC noted.
In the US, the introduction of 15% tariffs on all European products, including wines and spirits, combined with an unfavourable euro/dollar exchange rate for Cognac, led to price increases of around 30%.
In terms of markets, the US, Canada and Mexico collectively recorded a 19.4% decline in volume to 56.9m bottles shipped. Value-wise, the sector plummeted by 34% to €737.3 million (US$641.3m).
The Far East region, which includes Cognac’s second and third-biggest market by volume (China and Singapore), also reported double-digit volume and value drops.
This region saw shipments struggle, decreasing by 20.5% in 2025 to 37.7m bottles. In value terms, Cognac suffered a 23.1% decrease, generating €861.1m (US$749m).
In Europe, the category’s exports fell by 10.9% in volume to 28.2m bottles last year. By value, the category saw a 22% drop to €359.5m (US$418.3m).
The UK held on to its position as Cognac’s fifth-largest export market with 7.3m bottles in 2025, ahead of France in sixth place with 3.5m bottles.
The BNIC highlighted that some countries showed ‘positive signals’, including South Africa, which was the category’s fourth-biggest export market.
Cognac contributed to the decline in global exports of French spirits, which plunged by 17.4% in value in 2025, marking the category’s third year in decline.
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