The ‘Global Whiskey Market Share, Size, Price, Trends, Growth, Analysis, Report and Forecast 2023-2028’ by Expert Market Research gives an extensive outlook of the global whiskey market, assessing the market on the basis of its segments like types, quality, distribution channels, and major regions.
The report studies the latest updates in the market, along with their impact across the market. It also analysis the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter’s Five Forces Models.
Whiskey Market Share, Size, Industry Report, Key Player, Major Segments, and Forecast
The key highlights of the report include:
Market Overview (2018-2028)
• Forecast CAGR (2023-2028): 5.2%
The global increase in demand for alcoholic beverages is driving the demand for whiskey. The change in lifestyle of working adults, growing disposable income, and increasing footfall in bars and pubs are some of the factors propelling the demand for the product. Whiskey is considered a symbol of status among businessmen and celebrities, while it is a sign of tradition in the defence sector. Hence, the increasing workforce in these sectors is augmenting the global whiskey market.
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The increasing number of women alcohol drinkers, owing to modernisation and increasing living standards in urban areas, is further increasing the sale of this product. Meanwhile, new offerings in spirits by major market players are escalating the demand for whiskey in the global alcohol industry. Moreover, the drink-at-home habit of millennials post-lockdown induced by the lifestyle stress has been aiding the market.
The increasing availability of super premium whiskey in duty-free outlets is further increasing the consumption of whiskey. Geographically, the Asia Pacific holds a considerable share in the whiskey market due to the presence of large populations inclined towards consuming alcoholic beverages.
Whiskey Industry Definition and Major Segments
Whiskey is a type of alcoholic beverage which is made by fermenting cereal grains. It typically has a sweet fragrance with a taste which can be described as sweet and smoky. Whiskey is a source of vitamin B1 and B3, zinc, and iron.
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Based on type, the market can be segmented into:
• American Whisky
• Irish Whisky
• Scotch Whisky
• Canadian Whisky
By quality, the market can be divided into:
• High-End Premium
• Super Premium
The distribution channels included in the market are as follows:
o Supermarkets and Hypermarkets
o Discount Stores
o Online Stores
o Restaurants and Bars
o Liquor Stores
On the basis of region, the market can be categorised into:
• North America
• Asia Pacific
• Latin America
• Middle East and Africa
Whiskey Market Trends
The key trends in the whiskey market include the increasing awareness pertaining to the potential health benefits of this drink. Whiskey contains healthy amounts of polyphenols which reduce the risk of heart disease. It also brings relief to those suffering from cold. Over the forecast period, the increasing prevalence of chronic cardiovascular diseases is likely to escalate the popularity of whiskey as a medical aid.
The thriving e-retail sector is another crucial trend in the whiskey market which is bolstering the sale of premium and super-premium whiskey. For example, whiskeys such as Blender’s Pride, Royal Stag, and Antiquity Blue, among others are gaining traction through online sales channels.
Meanwhile, the increasing enthusiasm among the youth to try whiskies of different types, including Irish, Scottish, and Canadian, among others, is another key trend in the market.
Key Market Players
The major players in the whiskey market report are
- Diageo plc
- Bacardi Limited
- William Grant & Sons Limited
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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