Whisky Global Market Report 2024

The whisky market size has grown steadily in recent years. It will grow from $58.97 billion in 2023 to $61.51 billion in 2024 at a compound annual growth rate (CAGR) of 4.3%. During the historic period, growth can be attributed to several factors. Cultural and lifestyle trends, globalization, and increased international trade have played pivotal roles. Furthermore, premiumization and luxury branding, emphasizing quality and exclusivity, have contributed to this growth. Craftsmanship and tradition have also been significant, appealing to consumers seeking authenticity. Additionally, innovation in flavors and blends has continually refreshed and expanded the market, drawing in new audiences and satisfying evolving tastes.

The whisky market size is expected to see steadily grown in the next few years. It will grow to $71.85 billion in 2028 at a compound annual growth rate (CAGR) of 4.0%. In the forecast period, growth is expected to stem from various factors. Emerging markets and an expanding middle class will likely drive increased consumption. E-commerce and digital marketing are set to play crucial roles in reaching wider audiences. The exploration of new ingredients will likely lead to innovative flavor profiles and product diversification. Emphasizing environmental sustainability practices will resonate with environmentally conscious consumers. Moreover, the rising interest in collectibles and limited editions is expected to fuel market expansion.

The anticipated surge in whisky consumption is poised to drive substantial growth within the whisky market. Whisky's appeal lies in its health benefits, robust flavors, and cultural significance. Renowned for potentially lowering risks associated with heart disease, stroke, and cancer, whisky also boasts antioxidants that combat free radicals. Its consumption is linked to enhanced cognitive function, digestive aid, stress reduction, and its low-carb nature makes it a favorable option for those on a low-carb regimen. In March 2023, the Distilled Spirits Council of the United States reported a notable 32% surge in American Whisky exports, reaching $1.28 billion in 2021, emphasizing the escalating demand fueling the whisky market's growth.

The anticipated upsurge in disposable income is projected to be a driving force for the whisky market's expansion. Disposable income, the residual income available post-tax deductions for spending and saving, significantly influences whisky consumption. Individuals with higher disposable incomes tend to allocate more resources toward luxury goods, including premium spirits like whisky. Notably, in Canada, Disposable Personal Income escalated to 1584768 CAD Million in the second quarter of 2023 from 1544960 CAD Million in the previous quarter, showcasing a trend aligning with the growing whisky market. Innovations in product offerings stand as a significant trend shaping the whisky market's landscape. Market leaders are introducing innovative whisky products to maintain their market position, especially appealing to younger consumers. An example is Allied Blenders and Distillers Ltd., which, in October 2022, unveiled two innovative whiskies: Srishti Premium Whisky and Sterling Reserve B7 Whisky Cola Mix. Srishti Premium Whisky features rare scotch malts blended with Indian grain spirits and infused with curcumin, providing a distinctive flavor. Sterling Reserve B7 Whisky Cola Mix is an award-winning blend infused with cola, adding an exciting twist to drinking occasions.

Prominent players in the whisky market are actively launching new products to meet evolving consumer demands. For instance, in April 2022, Diageo India introduced Godawan whisky, crafted in Rajasthan, India. Named after the great Indian bustard bird, this whisky is crafted from six-row barley grains indigenous to Rajasthan. Maturing in temperatures exceeding 100°F and finished in casks containing Indian botanicals, it offers a rich and complex character, reflecting the commitment to catering to consumers' preferences.

In June 2022, Sarezac, a US-based alcoholic beverage company, acquired Lough Gill Distillery for an undisclosed amount. Through this acquisition, Sarezac will dramatically extend the distillery's footprint by increasing capacity and expanding production and bottling lines. Lough Gill Distillery is an Ireland-based whiskey distillery, that produces high-quality single-malt whisky with little environmental impact.

Major companies operating in the whisky market report are 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, Chivas Brothers Limited, 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 .

North America was the largest region in the whisky market in 2023. The regions covered in the whisky market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa The countries covered in the whisky market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Whisky is broadly categorized into alcoholic and non-alcoholic variants. Alcoholic whisky, a distilled spirit derived from fermented grain mash, matures in oak barrels, presenting diverse flavors spanning unflavored and flavored varieties. These whiskies reach consumers through various sales channels, including both B2B (business-to-business) and B2C (business-to-consumer) avenues.

The whisky market research report is one of a series of new reports provides whisky market statistics, including the whisky industry's global market size, regional shares, competitors with a whisky market share, detailed whisky market segments, market trends, and opportunities, and any further data you may need to thrive in the whisky industry. This whisky market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The whisky market consists of sales of a variety of whiskies such as bourbon whisky, blended whisky, and spirits. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


This product will be delivered within 1-3 business days.