Global Whiskey Industry 2020 is expected to register a 4.26% CAGR and acquire USD 60.29 Billion by the end of 2024.
The growth of the whiskey market was boosted by changing lifestyles, whiskey consumption habits, high disposable income, growing whiskey affordability, and increasing demand for premium whiskey. The demand for variety in Scotch whiskey from fast-growing emerging markets and the demand among health-conscious drinkers for lower alcohol varieties and organic whiskey are the driving force for the market to move forward. The expansion of the global Whiskey Industry is driven by changing lifestyles and consumer preferences coupled with growing per capita disposable income. It is expected that the rapidly growing demand for leisure activities and the rapidly growing food service industry will fuel the growth of the global whiskey market size.
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The growing popularity of this drink among all age groups is another aspect that positively affects this market. Once people cross the legal age to start consuming alcoholic drinks, due to their unique flavour and texture, their taste buds take them over to whiskey. Thus, ultimately the market gets benefitted by it. In America, brown spirits continue to boom. While consumer education remains a little behind, as many people still do not know the difference between bourbon and whiskey, there is a very high interest in distilled spirits. For distillers, distributors and retailers alike, which will drive whiskey consumption. In recent years, the depth of consumer interest and whiskey trends has spurred numerous new brands to emerge and increase whiskey production. New heights have also been reached by product innovation.
However, regulations and taxes on the production of whiskey may impede the growth of the global whiskey industry.
Angus Dundee Distillers Plc. (UK), Allied Blenders and Distillers Pvt. Ltd. (India), Bacardi Limited (UK), Pernod Ricard (France), Brown-Forman (US), Constellation Brands, Inc. (US), Diageo Plc (UK), Suntory Holdings Ltd. (Japan), Asahi Group Holdings (Japan), La MARTINIQUAISE (France), William Grant & Sons Holdings Ltd (UK), The Edrington Group (UK), Constellation Brands, Inc. (US), King Car Group (Taiwan), and Moët Hennessy Louis Vuitton (France) are some of the key players in the Global Whiskey Industry.
Based on type, packaging type, distribution networks, and area Whiskey Industry has been segmented.
The worldwide whiskey industry has been divided into scotch whiskey, American whiskey, Irish whiskey, Canadian whiskey, and others, depending on form.
Based on packaging form, the global whiskey industry has been bifurcated into bottles and cans.
The global demand for whiskey has been separated into food service and supermarket, depending on the sales channel. The shopping industry is further divided into malls, hypermarkets, specialty shops, among others.
the global market for whiskey has been studied In four main areas, North America, Europe, Asia-Pacific, and the rest of the globe.
With the highest market share, Europe is the market leader in whiskey production. The main countries for whiskey production and consumption in this area are Germany, Italy, Spain and France. Europe is also the biggest whiskey manufacturer and customer.
In the whiskey industry, North America is the other big region. Owing to the strong demand for whiskey from the foodservice industry, the competition in North America is expected to lead the market. South America accounts for one-tenth of the world’s market share and is a bourbon market that is steadily rising.
For whiskey production & consumption, Asia-Pacific is the fastest growing region. The increasing number of bars and restaurants in the area can be attributed to this development. In addition, the per capita disposable income of the Asia-Pacific population is projected to promote the development of the whiskey industry in the region. The high rate of acceptance of western culture and lifestyle, large demographics, and rising middle-class families primarily drive the area whiskey industry. The great markets in this area are China, Japan and India. India is the Asia-Pacific region’s main user of whiskey.
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