Whiskey Market Insights

Whiskey Market is expected to register 4.26% CAGR from 2019 to 2024 and reach USD 60.29 Billion by the end of 2024. Whiskey has been synonymous with luxury for a long time due to its long distillation and aging process. However, the emergence of various craft whiskeys that challenge the notion that aged whiskey is better is driving a renewed growth and demand among consumers. 

Many Whiskey Market Analysis are attaching tasting bars and restaurants to their distilleries, to sell the whiskey experience while learning more about the process and the product itself thus further facilitating demand. Additionally, the high social and cultural status associated premium whiskeys is driving growth for the same globally. At the same time, innovative whiskeys that are creatively branded and packaged are encouraging consumers of various alcohol preference to adopt whiskey.  

Key Players

Key players profiled in the MRFR's Whiskey Market report include Radico Khaitan, Allied Blenders and Distillers Pvt. Ltd., Beam Suntory, Brown-Forman, Pernod Ricard, Diageo, Bacardi, Heaven Hill Distilleries, Constellation Brands Inc., and Distell Group Limited.

Market Segmentation

The global Whiskey Market has been segmented by source, type, origin, process, and region.

By source, the market has been segmented into malt, grain, blended, and others.

By type, the market has been segmented into bourbon/rye, scotch, cask finish and others.

By origin, the market has been segmented into U.S., Canadian, Irish, Japanese and others.

By process, the market has been segmented into pot still distillation, column still distillation and others.

By region, the market has been segmented into North America, Europe, Asia-Pacific (APAC), and Rest of the World (RoW).

Regional Analysis

Europe leads the global Whiskey Market due to a strong presence of prominent players in the region. Additionally, the area includes countries such as Scotland and Ireland, which are known for their production and consumption of whiskey. For example, the famous Scotch whiskey is only truly considered scotch if it has been distilled and aged in Scotland. These countries climate have the optimal conditions for whiskey manufacturing which allows for minimum loss during the aging process as compared to other countries.

The Asia-Pacific is projected to see rapid growth during the forecast period due to countries such as India and China driving strong demand for luxury products as a result of rising disposable incomes. Japan is another key country that contributes growth in this region due to a presence of whiskey manufacturer.

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At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

Whiskey Market Insights

Whiskey Market is expected to register 4.26% CAGR from 2019 to 2024 and reach USD 60.29 Billion by the end of 2024. Whiskey has been synonymous with luxury for a long time due to its long distillation and aging process. However, the emergence of various craft whiskeys that challenge the notion that aged whiskey is better is driving a renewed growth and demand among consumers. 

Many Whiskey Market are attaching tasting bars and restaurants to their distilleries, to sell the whiskey experience while learning more about the process and the product itself thus further facilitating demand. Additionally, the high social and cultural status associated premium whiskeys is driving growth for the same globally. At the same time, innovative whiskeys that are creatively branded and packaged are encouraging consumers of various alcohol preference to adopt whiskey. 

Key Players

Key players profiled in the MRFR's Whiskey Market report include Radico Khaitan, Allied Blenders and Distillers Pvt. Ltd., Beam Suntory, Brown-Forman, Pernod Ricard, Diageo, Bacardi, Heaven Hill Distilleries, Constellation Brands Inc., and Distell Group Limited.

Market Segmentation

The global Whiskey Market has been segmented by source, type, origin, process, and region.

By source, the market has been segmented into malt, grain, blended, and others.

By type, the market has been segmented into bourbon/rye, scotch, cask finish and others.

By origin, the market has been segmented into U.S., Canadian, Irish, Japanese and others.

By process, the market has been segmented into pot still distillation, column still distillation and others.

Regional Analysis

Europe leads the global Whiskey Market due to a strong presence of prominent players in the region. Additionally, the area includes countries such as Scotland and Ireland, which are known for their production and consumption of whiskey. For example, the famous Scotch whiskey is only truly considered scotch if it has been distilled and aged in Scotland. These countries climate have the optimal conditions for whiskey manufacturing which allows for minimum loss during the aging process as compared to other countries.

The Asia-Pacific is projected to see rapid growth during the forecast period due to countries such as India and China driving strong demand for luxury products as a result of rising disposable incomes. Japan is another key country that contributes growth in this region due to a presence of whiskey manufacturer.

For More Information @ https://www.marketresearchfuture.com/reports/whiskey-market-2004

About Market Research Future
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

Global Market Insights, Inc. has launched a report on Whiskey Market that elucidates an in-depth synopsis of this business vertical over the forecast period. The report is inclusive of the prominent industry drivers and provides an accurate analysis of the key growth trends and market outlook in the years to come in addition to the competitive hierarchy of this sphere.

Whiskey Market size is estimated to surpass USD 84 billion by 2025; according to a new research report by Global Market Insights, Inc. Changing consumer’s preference for a better experience and increasing popularity of premium brands will propel whiskey industry growth. Strong demand with evolving tastes and consumption upgrade from increasingly urbanized and high-income population will provide positive business outlook. Factors such as new product launch, easy availability of raw materials, product innovation, and growing popularity of craft whisky will further support industry expansion.

Increasing cross border trade with rapid globalization is anticipated to create new opportunities for manufacturers in whiskey market. For instance, the exports for scotch whiskey grew approximately by 7.8% by value in 2018. Further, manufacturers are focusing on developments of varied products such as barrel aged whiskeys, single malt, organically produced whiskey, and flavored products to gain competitive advantage.

Whiskey is considered as an affordable luxury which drives the market growth for premium and super-premium product offering. Consumers are becoming knowledgeable on different types of whiskeys accompanied by the inclination towards trying new whiskeys with different taste & complexity. Whiskey manufacturing varies as per the production process as well as ingredients used such as malt, wheat, rye, corn, or blends. However, prices of grains are rising due to the scarcity of certain crops which will impact the crop supplies for whiskey production, thus increasing overall production cost.

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Scotch whiskey accounts for over 24% of the global whiskey consumption in 2018. Blended whisky holds a dominating share in the global scotch whiskey market. However, single malt whiskey observes high growth rate in terms of volume and revenue.  Value of the single malt scotch is high and allows malt producers to target the growing premium whisky consumer segment. As per scotch whisky association, European Union is one of the largest markets for Scotch whiskey and accounts for about 30% by value and around 36% by volume of the total exports. Also, the United States is the largest imported of Scotch whiskey.

Off-trade distribution holds over 70% share in the overall whiskey market in 2018. Strong growth in travel & tourism industry particularly from emerging economies of Asia Pacific is driving the whiskey sales through off-trade sales channel such as duty-free stores. Also, the demand for super-premium whiskies is high through off-trade sales channels owing to low prices as compared to on-trade sales, and preference for storing premium products for special occasions. Also, the supermarkets, convenience stores, duty-free stores, and auctions offer numerous categories and varieties of the product, thus propelling the business expansion.

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Asia Pacific market size is projected to cross USD 37 billion by 2025. India account for around 45% of the global whiskey consumption in 2018. High demand is expected due to increasing count of consumers within legal drinking age, enhanced standard of living, rapid urbanization, and rise in spending on leisure. For instance, Indian population with legal drinking age is projected to increase from 64% in 2011 to 68% in 2021. World’s economy is shifting towards south-east countries, these countries being the emerging market will drive the export growth for the product.

The Global Whiskey Market Share in competitive with presence of several large-scale manufacturers with established brands along with increasing count of new distilleries. The prominent players in the market are Diageo, Pernod Ricard, William Grant and Sons, Crown Royal, Beam Suntory, Allied Blenders & Distillers (ABD), Brown Forman. Some of the renowned brands in the global whiskey industry include Johnnie Walker, Jack Daniel’s, Jim Beam, Officer’s Choice, Imperial Blue, and Royal Stag. High investments on branding and product promotions, new product developments, distribution network expansion, and mergers & acquisitions are among the key strategies observed in the industry.

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Whiskey is a type of alcoholic drink which is made from fermented grain mash. Typical grains that are used are rye, barley, malted rye, malted barley, wheat and corn. Ideally whiskey is stored in wooden white oak barrels and kept for aging. Whiskey is normally produced in the areas that grow grain and can differ in quality and content. The whiskey pricing is based on ageing and the products being used.

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The global whiskey market is growing owing to the changes in lifestyles and the increased spending power of the people. Whiskey industry is set to grow owing to new opportunities being explored by major market players for example, new organic whiskey products that is going to penetrate the different geographies. However, the heavy taxation and legal guidelines by governments and health concerns with respect to whiskey are factors that might influence the growth of whiskey market size. Furthermore, there is an increased preference towards beer and wine which might also hamper the whiskey market growth.

The global whiskey market is segmented on the basis of product, by quality and region. Segmentation on the basis of product type whiskey is divided as Blended whiskey, malt, rye, wheat, corn, and many others. Among these categories the blended whiskey contributes to 79% to the Whiskey market share. Based on the quality of the whiskey, market is segmented as super premium whiskey, premium whiskey, and high-end premium whiskey. Among these the category of premium whiskey contributes maximum to the market share. It popular among all owing to it being pocket friendly and ease of availability across various stores.

The global whiskey market is classified as Europe, North America, South America, Asia-Pacific and others. Europe leads in whiskey making with contributing to almost 34% of the market size. Countries like Italy, Spain, Germany and France are regions having the maximum consumption in the European countries. The factors influencing the market are increased spending power of the masses and increased intake of whiskey by the youth generation. Europe is the region that also produces maximum amount of whiskey and at the same time has a large market share for it. The region of North America is the other main geographic region which contributes to almost 23% of the market share and it is often said that US alone consumes the largest amount of whiskey per person. Another region that is expecting to grow slowly but constantly is the region of South America. Asia-Pacific is another region that is a growing market for whiskey, this is mainly due to the influence of western culture among various people and the increased number of population in the countries. Countries like China, India and Japan are the main contributors of the global whiskey market

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Key Players in the Whiskey market size are Bruker Corporation, Thermo Fisher Scientific, GE Healthcare, Luminex Corporation, New England Biolabs, and many others.

Segmentation:

The various segments of Whiskey market size are:

By Product type:

Malt

Rye

Wheat

Blended Whiskey

Corn

By Quality:

Super premium whiskey

Premium whiskey

High-end premium whiskey

By Region:

Europe

North America

South America

Asia-Pacific

What to expect from the upcoming report on ‘Whiskey market size’:

- Future prospects and current trends of the Whiskey market size by the end of forecast period. (2017 – 2025).

- Information regarding technological progressions as well as innovations across the world

- Supportive initiatives by government likely to influence the market dynamics.

- In-depth analysis of different market segmentations including regional segmentations, applications and types.

- Deep analysis about the competitive landscape of the market and the initiatives by them to improve this market.

- Trends, drivers, opportunities, restraints, challenges and key developments in the market

Who should buy this report?

Venture capitalists, Investors, financial institutions, Analysts, Government organizations, regulatory authorities, policymakers ,researchers, strategy managers, and academic institutions looking for insights into the market to determine future strategies.

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About Us:

Adroit Market Research is an India-based business analytics and consulting company incorporated in 2018. Our target audience is a wide range of corporations, manufacturing companies, product/technology development institutions and industry associations that require understanding of a market’s size, key trends, participants and future outlook of an industry. We intend to become our clients’ knowledge partner and provide them with valuable market insights to help create opportunities that increase their revenues. We follow a code– Explore, Learn and Transform. At our core, we are curious people who love to identify and understand industry patterns, create an insightful study around our findings and churn out money-making roadmaps.

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