According to the report the global whiskey market reached a value of about USD 66.51 billion in 2022. Aided by increased popularity of alcoholic beverages and rising disposable income, the market is projected to further grow at a CAGR of 4.10% between 2023 and 2028 to reach a value of USD 85.44 billion by 2028.
Whiskey, a distilled alcoholic beverage made from fermented grain mash, has long been associated with tradition, craftsmanship, and sophistication. The types of grain used - which can include barley, corn, rye, and wheat - along with the ageing process and type of cask, play instrumental roles in determining the flavour and character of each whiskey variant. From the peaty flavours of Scottish whiskies to the caramel tones of Bourbon, the diversity in whiskey is profound.
Among the key whiskey market trends is a growing inclination towards craft and artisanal whiskies. As consumers become more educated about the nuances of whiskey production, there's a palpable demand for unique, small-batch whiskies that tell a story. This trend dovetails with the wider movement towards authenticity and transparency in the food and beverage sector.
The rise of whiskey tourism and experiential consumption further fuels the whiskey market growth. Distilleries, particularly in traditional whiskey-producing regions like Scotland, Ireland, and the US, are witnessing an influx of tourists keen on understanding the whiskey-making process. Such tours often culminate in tastings, where aficionados and novices alike can appreciate the liquid gold's subtleties.
The expanding whiskey market demand is not just confined to Western markets traditionally seen as the mainstay of whiskey consumption. Asian markets, led by countries such as China, India, and Japan, are also showcasing an insatiable appetite for whiskey. Notably, Japan has emerged not just as a significant consumer but also as a renowned producer, with Japanese whiskies gaining accolades on the world stage.
As per the whiskey market analysis, branding and marketing play a key role in shaping consumption patterns. Whiskey brands are leveraging narratives that emphasise heritage, craftsmanship, and provenance, appealing to consumers' aspirations. Limited editions, special releases, and collaborations are strategies employed to keep the buzz alive and drive premiumisation.
These high-quality, data-driven analyses provide the essential framework for organisations seeking to make informed and strategic decisions in an increasingly complex and rapidly evolving business environment. By investing in our market research reports, you can ensure your organisation remains agile, proactive, and poised for success in today's competitive market.
Don't miss the opportunity to elevate your business intelligence and fortify your strategic planning. Secure your organisation's future success by acquiring one of our these reports today.
*The publisher always strives to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.
Whiskey, a distilled alcoholic beverage made from fermented grain mash, has long been associated with tradition, craftsmanship, and sophistication. The types of grain used - which can include barley, corn, rye, and wheat - along with the ageing process and type of cask, play instrumental roles in determining the flavour and character of each whiskey variant. From the peaty flavours of Scottish whiskies to the caramel tones of Bourbon, the diversity in whiskey is profound.
Among the key whiskey market trends is a growing inclination towards craft and artisanal whiskies. As consumers become more educated about the nuances of whiskey production, there's a palpable demand for unique, small-batch whiskies that tell a story. This trend dovetails with the wider movement towards authenticity and transparency in the food and beverage sector.
The rise of whiskey tourism and experiential consumption further fuels the whiskey market growth. Distilleries, particularly in traditional whiskey-producing regions like Scotland, Ireland, and the US, are witnessing an influx of tourists keen on understanding the whiskey-making process. Such tours often culminate in tastings, where aficionados and novices alike can appreciate the liquid gold's subtleties.
The expanding whiskey market demand is not just confined to Western markets traditionally seen as the mainstay of whiskey consumption. Asian markets, led by countries such as China, India, and Japan, are also showcasing an insatiable appetite for whiskey. Notably, Japan has emerged not just as a significant consumer but also as a renowned producer, with Japanese whiskies gaining accolades on the world stage.
As per the whiskey market analysis, branding and marketing play a key role in shaping consumption patterns. Whiskey brands are leveraging narratives that emphasise heritage, craftsmanship, and provenance, appealing to consumers' aspirations. Limited editions, special releases, and collaborations are strategies employed to keep the buzz alive and drive premiumisation.
Market Segmentation
The market can be divided based on type, quality, distribution channel, and region.Market Segmentation
- American Whiskey
- Irish Whiskey
- Scotch Whiskey
- Canadian Whiskey
- Others
Market Segmentation
- Premium
- High-End Premium
- Super Premium
Market Segmentation
Off-Trade
- Supermarkets and Hypermarkets
- Discount Stores
- Online Stores
- Others
On-Trade
- Restaurants and Bars
- Liquor Stores
- Others
Market Segmentation
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Competitive Landscape
The report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global whiskey market. Some of the major players explored in the report are as follows:- Diageo plc
- Bacardi Limited
- William Grant & Sons Limited
- Brown-Forman
- Edrington
- Others
About the Publisher
Acquire unparalleled access to critical industry insights with our comprehensive market research reports, meticulously prepared by a team of seasoned experts. These reports are designed to equip decision-makers with an in-depth understanding of prevailing market trends, competitive landscapes, and growth opportunities.These high-quality, data-driven analyses provide the essential framework for organisations seeking to make informed and strategic decisions in an increasingly complex and rapidly evolving business environment. By investing in our market research reports, you can ensure your organisation remains agile, proactive, and poised for success in today's competitive market.
Don't miss the opportunity to elevate your business intelligence and fortify your strategic planning. Secure your organisation's future success by acquiring one of our these reports today.
*The publisher always strives to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.
Table of Contents
1 Preface2 Report Coverage - Key Segmentation and Scope4 Key Assumptions7 Opportunities and Challenges in the Market15 Value Chain Analysis16 Price Analysis18 Key Trends and Developments in the Market
3 Report Description
5 Executive Summary
6 Snapshot
8 Global Whiskey Market Analysis
9 North America Whiskey Market Analysis
10 Europe Whiskey Market Analysis
11 Asia Pacific Whiskey Market Analysis
12 Latin America Whiskey Market Analysis
13 Middle East and Africa Whiskey Market Analysis
14 Market Dynamics
17 Competitive Landscape
List of Key Figures and Tables
Companies Mentioned
- Diageo plc
- Bacardi Limited
- William Grant & Sons Limited
- Brown-Forman
- Edrington
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 186 |
| Published | October 2023 |
| Forecast Period | 2023 - 2028 |
| Estimated Market Value ( USD | $ 69.89 Billion |
| Forecasted Market Value ( USD | $ 85.44 Billion |
| Compound Annual Growth Rate | 4.1% |
| Regions Covered | Global |
| No. of Companies Mentioned | 5 |
