What Is The Current and Historic Market Size Analysis Of The Whisky Market?
The whisky market has seen considerable growth due to a variety of factors.
• In the past few years, the whiskey market size has been experiencing consistent growth. It is predicted that its size will increase from $68.37 billion in 2024 to $71.66 billion in 2025, with a compound annual growth rate (CAGR) of 4.8%.
The growth experienced in the historic period can be credited to factors such as cultural and lifestyle changes, globalization and international commerce, the focus on luxury branding and premiumization, the appreciation of craftsmanship and tradition, and innovative flavors and blends.
What Is The Forecast For The Whisky Market Size?
The whisky market is expected to maintain its strong growth trajectory in upcoming years.
• In the coming years, the whiskey market size is expected to steadily grow, reaching a value of $85.62 billion in 2029 with a 4.6% compound annual growth rate (CAGR). The predicted growth in this period can be linked to the rise in emerging markets and the burgeoning middle class, amplified by digital marketing and e-commerce, introduction of new ingredients, as well as increasing focus on environmental sustainability measures. The growing interest in collectibles and limited edition items also plays a significant role. The forecast period will witness notable trends such as the merging categories of spirits, release of limited edition items and collectibles, preferences for cask strength and non-chill filtering, expansion of e-commerce and direct sales to consumers and the utilization of cultural and heritage narratives.
What Are The Essential Drivers Behind The Growth Of The Whisky Market?
The whisky market's growth trajectory is predicted to continue rising due to escalating whisky consumption. Whisky's appeal lies in its health advantages, distinct taste, and cultural relevance. Among its multiple health benefits are its potential to decrease the chances of heart ailments, stroke, and cancer. It also comprises antioxidants that assist in combating free radicals. Whisky consumption additionally enhances mental performance, supports digestion, and helps in stress reduction. Notably, whisky's low carbohydrate content makes it a preferred choice for those following a low-carb diet. As an example, a report from the Distilled Spirits Council of the United States, a national trade organization from the US, stated that in March 2023, there was a 32% spike in American Whisky exports, reaching $1.28 billion in 2021. Hence, rising whisky consumption fuels the growth of the whiskey market.
How Is The Global Whisky Market Divided Into Key Segments?
The whisky market covered in this report is segmented –
1) By Type: Alcoholic Whisky, Non- Alcoholic Whisky
2) By Flavor: Unflavored, Flavored
3) By Sales Channel: B2B (business-to-business), B2C (business-to-consumer)
Subsegments:
1) By Alcoholic Whisky: Scotch Whisky, Irish Whiskey, American Whiskey, Canadian Whisky, Japanese Whisky, Single Malt Whisky, Blended Whisky
2) By Non-Alcoholic Whisky: Whisky-Flavored Non-Alcoholic Beverages, Alcohol-Free Whisky Alternatives, Whisky-Infused Soft Drinks
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What Emerging Trends Are Influencing The Growth Of The Whisky Market?
The advent of product innovation is a significant trend making waves in the whisky industry. To maintain their market stronghold, major firms active in this sector are bringing in novel, innovative products. This innovation plays a vital role in attracting new whisky enthusiasts, particularly those of the younger generation. For example, in October 2022, Allied Blenders and Distillers Ltd., an alcohol enterprise based in India, debuted two inventive whiskies, Srishti Premium Whisky, and Sterling Reserve B7 Whisky Cola Mix. Srishti Premium Whisky combines rare scotch malts with fine Indian grain spirits and an innovative ingredient of curcumin. On the other hand, Sterling Reserve B7 Whisky Cola Mix is a prizewinning whisky concoction mingled with cola, adding an exciting twist to each drinking occasion.
Who Are the Key Players In The Whisky Market?
Major companies operating in the whisky market include:
• Diageo plc
• Bacardi Limited
• William Grant & Sons Ltd.
• The Edrington Group Limited
• Beam Suntory Inc.
• Brown–Forman Corporation
• Whyte & Mackay Limited
• Inver House Distillers Limited
• LVMH Moët Hennessy Louis Vuitton SE
• Loch Lomond Distillery Company Limited
• Asahi Group Holdings Ltd.
• Pernod Ricard SA
• La Martiniquaise Co.
• Belvedere SA
• Allied Blenders and Distillers Pvt Ltd.
• Red Brick Brewing Company LLC
• Suntory Beverage & Food Limited
• Constellation Brands Inc.
• Heaven Hill Distilleries Inc.
• Canadian Mist Distillery Ltd.
• Forty Creek Distillery Ltd.
• Glenora Distillers International Ltd.
• Hood River Distillers Inc.
• Pemberton Distillery Inc.
• Corby Distilleries Limited
• Sazerac Company Inc.
• Tomintoul Distillery Ltd.
• Tormore Grain Scotch Whisky
• The English Whisky Co. Ltd.
• Sacred Spirits Company Ltd.
• Bimber Distillery Ltd.
• East London Liquor Company Limited
• Cotswolds Distillery Ltd.
• The Lakes Whiskymakers Ltd.
• Oxford Rye Whisky Ltd.
• Ole Smoky Distillery LLC
• McCormick Distilling Company
• Clifford Distilling LLC
• Archie Rose Distilling Co. Pty Ltd.
• Hellyers Road Distillery Pty Ltd.
• Hoochery Distillery Pty Ltd.
• Lark Distillery Pty Ltd.
• Timboon Railway Shed Distillery Pty Ltd.
• Kirin Holdings Company Limited
What Are The Regional Insights Into The Whisky Market?
North America was the largest region in the whisky market in 2024. The regions covered in the whisky market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
