The global malt whiskey market was valued at $4.3 billion in 2021, and is projected to reach $6.7 billion by 2031, growing at a CAGR of 4.7% from 2022 to 2031. The alcoholic beverages market is evolving with technological enhancements in the beverages industry, owing to increase in association of alcohols with young and millennial population worldwide. The market offers several alcoholic drinks to consumers such as whiskey, beer, wine, and spirits, of which malt whiskey is gaining significant popularity in the market. Malt whiskey is whiskey made from a fermented mash consisting primarily of malted barley. If the product is made exclusively at a single distillery, it is typically called a single malt whiskey. Although malt whiskey can be made using other malted grains besides barley, those versions are not called malt whiskey without specifying the grain, such as rye malt whiskey or buckwheat malt whiskey. The trend to try different alcoholic drinks has led to increase in popularity of malt whiskey products in the global market.
Premiumization remains to be one of the major factors to drive the alcoholic beverages industry across the globe. Demand for premium cocktails is attributed to trend for mixed drinks and crafted cocktails. Pre-mixed and fresh cocktail manufacturers are shifting from utilizing artificial colorants & flavors and favoring premium ingredients to natural appeal in drinks.
Rise in spirit tourism encourages tourists to indulge and experience local beverages and their distilleries; hence, it is considered as the cornerstone of latest economic growth. Tourism, especially in western countries, has led to rise in revenue of the whiskey industry means of tourist visits to distilleries, wineries, and breweries. Growth in acceptance of spirits consumption by overseas tourists propels the market growth. Countries, such as Scotland, France, and the UK consider the whiskey industry as one of the highest revenue generating sectors in their economies.
According to the WHO global status report on alcohol and health 2018, out of all alcohol-related deaths, about one-third were the result of injuries, such as self-harm, car accidents, and violence; about one-fifth were attributed to digestive disorders; another one-fifth were due to cardiovascular diseases; and rest were caused by mental disorders, cancer, infectious diseases, and other health conditions. The report also estimates that about 46 million women and 237 million men suffer from alcohol-use disorders globally, with a high number in developed regions, especially Europe and North America. Furthermore, growing health consciousness, myriad of health-related diseases, and easy availability of substitute products & non-alcoholic beverages challenge the market expansion.
COVID-19 was declared a pandemic by the WHO in the earlier half of 2020. The outbreak of coronavirus has significantly impacted not only various food & beverages industries but also all stages of the supply chain and value chain of various industries. In addition, the food & beverages industry is currently facing challenges due to halting of operations, which, in turn, has disrupted the economy of numerous countries. The on-trade segment has especially been impacted since bars, restaurants, pubs, and breweries have been shut due to the lockdown and customer visits are entirely restricted. On the contrary, sales through e-commerce have experienced a rise during this phase.
The malt whiskey industry is segmented on the basis of type, distribution channel. By type, the market is divided into scotch whiskey, American whiskey, Irish whiskey and others. On the basis of distribution channel, the market is categorized into on-trade and off-trade. Region wise, the global market is studied across North America, Europe, Asia-Pacific and LAMEA. North America consists of the U.S., Canada, and Mexico. Europe is studied across the UK, Germany, France, Spain, Russia, and rest of Europe. India, China, Japan, Australia, and rest of Asia-Pacific are the countries analyzed under Asia-Pacific. LAMEA includes Brazil, Argentina, the UAE, South Africa, and rest of LAMEA.
Some of the key players profiled in the malt whiskey market analysis include Bacardi Limited Alliance Global Group, Inc., Asahi Group Holdings, Ltd., Diageo plc, Pernod Ricard, Rémy Cointreau, Suntory Holdings Limited, The Brown-Forman Corporation, The Edrington Group and William Grant & Sons
Premiumization remains to be one of the major factors to drive the alcoholic beverages industry across the globe. Demand for premium cocktails is attributed to trend for mixed drinks and crafted cocktails. Pre-mixed and fresh cocktail manufacturers are shifting from utilizing artificial colorants & flavors and favoring premium ingredients to natural appeal in drinks.
Rise in spirit tourism encourages tourists to indulge and experience local beverages and their distilleries; hence, it is considered as the cornerstone of latest economic growth. Tourism, especially in western countries, has led to rise in revenue of the whiskey industry means of tourist visits to distilleries, wineries, and breweries. Growth in acceptance of spirits consumption by overseas tourists propels the market growth. Countries, such as Scotland, France, and the UK consider the whiskey industry as one of the highest revenue generating sectors in their economies.
According to the WHO global status report on alcohol and health 2018, out of all alcohol-related deaths, about one-third were the result of injuries, such as self-harm, car accidents, and violence; about one-fifth were attributed to digestive disorders; another one-fifth were due to cardiovascular diseases; and rest were caused by mental disorders, cancer, infectious diseases, and other health conditions. The report also estimates that about 46 million women and 237 million men suffer from alcohol-use disorders globally, with a high number in developed regions, especially Europe and North America. Furthermore, growing health consciousness, myriad of health-related diseases, and easy availability of substitute products & non-alcoholic beverages challenge the market expansion.
COVID-19 was declared a pandemic by the WHO in the earlier half of 2020. The outbreak of coronavirus has significantly impacted not only various food & beverages industries but also all stages of the supply chain and value chain of various industries. In addition, the food & beverages industry is currently facing challenges due to halting of operations, which, in turn, has disrupted the economy of numerous countries. The on-trade segment has especially been impacted since bars, restaurants, pubs, and breweries have been shut due to the lockdown and customer visits are entirely restricted. On the contrary, sales through e-commerce have experienced a rise during this phase.
The malt whiskey industry is segmented on the basis of type, distribution channel. By type, the market is divided into scotch whiskey, American whiskey, Irish whiskey and others. On the basis of distribution channel, the market is categorized into on-trade and off-trade. Region wise, the global market is studied across North America, Europe, Asia-Pacific and LAMEA. North America consists of the U.S., Canada, and Mexico. Europe is studied across the UK, Germany, France, Spain, Russia, and rest of Europe. India, China, Japan, Australia, and rest of Asia-Pacific are the countries analyzed under Asia-Pacific. LAMEA includes Brazil, Argentina, the UAE, South Africa, and rest of LAMEA.
Some of the key players profiled in the malt whiskey market analysis include Bacardi Limited Alliance Global Group, Inc., Asahi Group Holdings, Ltd., Diageo plc, Pernod Ricard, Rémy Cointreau, Suntory Holdings Limited, The Brown-Forman Corporation, The Edrington Group and William Grant & Sons
KEY BENEFITS FOR STAKEHOLDERS
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the malt whiskey market analysis from 2021 to 2031 to identify the prevailing malt whiskey market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the malt whiskey market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global malt whiskey market size.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global malt whiskey market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Type
- Scotch Whiskey
- American Whiskey
- Irish Whiskey
- Others
By Distribution Channel
- On Trade
- Off Trade
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- U.K.
- Germany
- France
- Spain
- Russia
- Rest of Europe
- Asia-Pacific
- India
- China
- Japan
- Australia
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Argentina
- UAE
- South Africa
- Rest of LAMEA
Key Market Players
- Asahi Group Holdings, Ltd.
- Diageo plc
- Pernod Ricard
- Rémy Cointreau
- Suntory Holdings Limited
- The Brown-Forman Corporation
- The Edrington Group
- William Grant & Sons
- Bacardi Limited
- Alliance Global Group, Inc.
Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: MALT WHISKEY MARKET, BY TYPE
CHAPTER 5: MALT WHISKEY MARKET, BY DISTRIBUTION CHANNEL
CHAPTER 6: MALT WHISKEY MARKET, BY REGION
CHAPTER 7: COMPANY LANDSCAPE
CHAPTER 8: COMPANY PROFILES
List of Tables
List of Figures
Executive Summary
According to the report, titled, “Malt Whiskey Market," the malt whiskey market size was valued at $4.3 billion in 2021, and is estimated to reach $6.7 billion by 2031, growing at a CAGR of 4.7% from 2022 to 2031.Malt whiskey is made from a fermented mash consisting primarily of malted barley. If the product is made exclusively at a single distillery, it is typically called a single malt whiskey. Although malt whiskey can be made using other malted grains besides barley, those versions are not called malt whiskey without specifying grain, such as rye malt whiskey or buckwheat malt whiskey. Craft spirits have witnessed monumental growth in last few years, owing to changing consumer preferences toward craft spirits, especially whiskey and brandy. According to the American Craft Spirits Association, craft spirits are products produced by a distillery, which values the importance of transparency in distilling and remains forthcoming regarding the ingredients of spirits, distilling location, aging, and bottling process. A distilled spirit is produced by a distillery producing fewer than 750,000 gallons annually. The craft spirits volume sales have witnessed upswing of 26% in 2019, The U.S. craft spirits market volume reached more than 12m 9-liter cases in retail sales in 2020.
The market growth is propelled by the rise in demand for whiskey as a result of Premiumization. The rising demand for high-premium whiskeys as a result of change in consumer tastes, rise in standard of living globally and inclination towards innovate products is expected to drive the growth of the whiskey market. In order to engage tech-savvy young consumers that seek greater value for money, more personalization, and integrated digital access, luxury whiskey brands have started to develop accurate social media platforms to expand consumer reach. Furthermore, millennia also value quality, authenticity and provenance, and hence are willing to pay more to enjoy this. The young consumers are inclined to experiment with their alcoholic beverages which has essentially led to the rise in ‘cocktail culture’. This trend has further enhanced the usage of whiskey as an ingredient, thereby propelling the malt whiskey market growth.
The global malt whiskey industry has been slightly impacted amidst outbreak of the coronavirus. The COVID-19 pandemic resulted in lockdown and widespread restrictions across the world. On-trade sales of alcoholic beverages have declined across the world, owing to the closure of HORECA industry. Furthermore, recent developments in resurgence of the second wave of coronavirus in Europe and North America is one of the major challenges the industry is expected to face in the coming days.
The global malt whiskey market is segmented on the basis of type, distribution channel, and region. The malt whiskey industry is segmented on the basis of type, distribution channel. By type, the market is divided into scotch whiskey, American whiskey, Irish whiskey and others. On the basis of distribution channel, the market is categorized into on-trade and off-trade. Region wise, the global market is studied across North America, Europe, Asia-Pacific and LAMEA. North America consists of the U.S., Canada, and Mexico. Europe is studied across the UK, Germany, France, Spain, Russia, and rest of Europe. India, China, Japan, Australia, and rest of Asia-Pacific are the countries analyzed under Asia-Pacific. LAMEA includes Brazil, Argentina, the UAE, South Africa, and rest of LAMEA.
By type, the scotch whiskey segment dominates the market, while the Irish whiskey segment is expected to exhibit a decent growth during the malt whiskey market forecast period. Taste preference of consumers are evolving and they are trying different variants. This makes it essential for marketers and producers to understand the latest malt whiskey market trends and buying behavior of consumers.
Key Findings of the Study
- According to Malt Whiskey Market Analysis, by type, the scotch whiskey segment accounted for the highest malt whiskey market share in 2021, growing at a CAGR of 4.9% and the Irish whiskey segment is expected to be the fastest growing segment with a CAGR of 4.4% during the forecast period.
- According to the Malt Whiskey Market Opportunities Analysis, by distribution channel, the on-trade segment is expected to exhibit a decent growth rate in the coming years. However, COVID-19 has led to decline in revenue generation from these sales channels in 2020.
- Region wise, Europe is anticipated to lead the malt whiskey market in 2031, growing at a CAGR of 3.5%, from 2022 to 2031.
- The major companies profiled in the report include Bacardi Limited Alliance Global Group, Inc., Asahi Group Holdings, Ltd., Diageo plc, Pernod Ricard, Rémy Cointreau, Suntory Holdings Limited, The Brown-Forman Corporation, The Edrington Group, and William Grant & Sons
Companies Mentioned
- Asahi Group Holdings, Ltd.
- Diageo plc
- Pernod Ricard
- Rémy Cointreau
- Suntory Holdings Limited
- The Brown-Forman Corporation
- The Edrington Group
- William Grant & Sons
- Bacardi Limited
- Alliance Global Group, Inc.
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 214 |
| Published | June 2022 |
| Forecast Period | 2021 - 2031 |
| Estimated Market Value ( USD | $ 4.3 billion |
| Forecasted Market Value ( USD | $ 6.7 billion |
| Compound Annual Growth Rate | 4.5% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
