According to a First Drinks in-depth market report released last week, the demand for premium drinks in the United Kingdom is at an all-time record high. And malt whisky and cognac take the largest share of the value of this.
Based on data from CGA Strategy and Nielsen of both on and off trade sales, the UK take home premium spirit market is worth £158 million – an increase of 10 per cent on the previous year. But the on-trade market has rocketed a crazy 29 per cent, and is now worth £341 million.
The top spirit is malt whisky, which accounts for a 64.4 per cent share of the total value. Second place is cognac, with a 13.1 per cent market share.
The report has shown that there was a rise in premium spirit consumers of 11 per cent on the previous year. Cocktails are also proving a trend with increasing demand.
This news can only be encouraging for cognac, with many starting to voice concern over the fact that the Chinese boom is what’s fuelling this current cognac ‘golden age.’ So it’s reassuring to see that sales are continuing to increase in other areas of the world as well.