Whiskey is a distilled alcoholic beverage made from malted grain especially barley or rye. The inclusion of various flavors depending on the region of supply is responsible for high demand of whisky globally. The demand of whiskey is more in Europe followed by North America.
Whiskey is defined as a spirit distilled from malted grain, especially barley or rye. The demand for premium whiskey is increasing globally, especially in major regions Europe followed by North America. A close association with premium brands among wealthy consumers has encouraged sales of whiskey labelling it as a luxury drink and a must needed for every celebration and occasion. These factors allow whiskey to maintain a high growth globally and it is expected that is expected to grow at the rate of about 5% from 2016 to 2022.
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The Major Key Players in Whiskey Market are
- Allied Blenders and Distillers Pvt. Ltd (India)
- Beam Suntory (U.S.)
- Brown-Forman (U.S.)
- Pernod Ricard (France)
- Diageo (U.K.)
- Bacardi (Bermuda)
- Heaven Hill Distilleries (U.S.)
- Constellation Brands, Inc. (U.S)
- Distell Group limited (South Africa)
- Radico Khaitan (India)
The Global Whiskey is fragmented depending on different vendors including international and regional players. Companies are competing on the basis of product differentiation, character, tastes, and pricing. The market is dominated by top key manufacturers who have a worldwide presence and have strong brand images for their products in the market.
Globally the whiskey market is mainly driven by increase in income levels and changing preferences of consumers s for alcoholic beverages mainly whiskey. Suppliers are introducing various whiskey products with different price range, quality, flavors/ingredients, distribution, and promotion. Intense competition among the major players has been noticed in the whiskey market as manufacturers have to continuously launch products taking care of consumer preferences to sustain in the market.
These factors will play a key role in the growth of whiskey market at the CAGR of 5% during 2016-2022.
By Origin Analysis-
Whiskey is categorized as U.S., Irish, Canadian, Japanese and others based on the origin of its production. Among these Irish and American whiskey will continue to grow the most among all types of whiskies globally.
The Global Whiskey Market is segmented into North America, Europe, Asia Pacific and Rest of the World (RoW). Among this Europe has the major market share with its major production concentration in its countries including Scotland and Ireland. North America holds a major share in terms of demand for whiskey. Asia-Pacific is an emerging market for whiskey and its variants along with China and India which are gaining attention from private players for investment in the whiskey market.
Global whiskey market is segmented by source, type, origin, process and region
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