Market Overview:
Whiskey Market Size Was Valued at USD 68.2 Billion in 2022, and is Projected to Reach USD 105.46 Billion by 2030, Growing at a CAGR of 5.6% From 2023-2030.
A type of distilled alcoholic beverage made from crushed, fermented grains is whisky. Whisky is made from a variety of grains, including malt, wheat, grey, and maize. Additionally, whisky is frequently grizzled in oak barrels and served as a refresher and recovery beverage. The most common whisky product varieties are scotch, Canadian, blended, Irish, and American whisky. Additionally, moderate whisky use is thought to be good for your health since it lowers your chance of having difficulties with your heart and blood pressure. During the projection period, the whisky market may experience promising growth due to rising worldwide tourist levels and an increase in the number of restaurants and bars.
Top Key Players Covered In The Whiskey Market:
- William Grant and Sons (UK)
- Allied Blenders and Distillers Pvt Ltd. (India)
- Johnny Walker (UK)
- Black and White (India)
- Diageo (UK)
- Jack Daniels (US)
- Brown Forman (US)
- La Martiniquais (France)
- Suntory Holdings Ltd. (Japan)
- Constellation Brand Inc. (US), and Other Major Players.
Market Dynamics and Factors:
Attractive marketing campaigns, expanding distribution network acquisitions, and the development of online retail portals that provide consumers with hassle-free shopping experiences are anticipated to drive the market's growth over the anticipated period. Over time, the industry is expanding more quickly due to changing consumer lives and an increase in the tendency of socializing and have weekend parties among working professionals. Additionally, whisky is frequently associated with the need for peers to display elegance and refinement, which has led to customers favoring unique and unusual drinking experiences. The primary driver propelling the market expansion during the forecast period is an increase in innovations and advances in the manufacture of alcoholic beverages, combined with an increase in the number of whisky distilleries.
The projected era will bring up more profitable chances for the whisky market due to the significantly expanding customer base throughout the world, shifting consumer preferences due to changing lifestyles, and the quickly expanding food service sector. The market is also expanding as a result of the fast-paced development of the retail industry, the high development of numerous online retailing portals that enable customers to buy whisky products without any hassle, and the significant increase in promotional activities carried out by major market players to draw in consumers.
Whiskey Market Report Highlight:
- By Source Type, the Wheat Whiskey segment is anticipated to lead the growth of the Whiskey market in the forecasted timeframe. The saporous goods, lightness, and availability of mild sweetness in wheat-based whisky products, among other characteristics contribute to their saporous ness and growth in this market. In addition, the spice content of wheat products is very low when compared to a big number of secondary grains, which is also anticipated to drive demand and market expansion in this particular category in the years to come.
- By Quality Types, the Premium segment is expected to have the highest share of the Whiskey market over the projected period. The biggest number of product offers among whisky manufacturers globally, strong consumer attention to premium sector items, and increased demand for traditional beverages are the major factors driving the market.
- By Distribution Channel, the Bars & Restaurants segment is set to develop at the highest share during the forecasted timeframe. Because the majority of people like to drink whisky in restaurants and bars and since these establishments provide other beverages, this tendency has developed.
- The Asia Pacific region is expected to have the highest share of the Whiskey market over the projected period. Asia Pacific currently holds a dominant position in the whisky market as a result of the region's rapidly expanding population, rising alcoholic beverage demand, adequate grain production compared to other regions, advancements in the food and beverage sector, rapid urbanization, and economic growth in countries like India, China, and Indonesia.
Key Industry Development:
- In July 2021, William Grant and Sons, the parent business of Glenfiddich, announced the introduction of a new sustainable transportation technology model that turns waste whisky into ultra-low carbon fuel (ULCF). It contributes to cutting down on hazardous emissions like carbon dioxide.
- In March 2019, Legent, a new whisky brand, has been launched, according to Suntory Holdings Ltd. It is a special creation that combines Kentucky Straight Bourbon with the traditional Beam family recipe and is aged in wine and sherry barrels before being blended with additional Kentucky Straight Bourbon to create an exceptionally well-balanced, multi-layered, and complex whisky.
Whiskey Market Segmentation:
By Source Type
- Malt Whiskey
- Wheat Whiskey
- Rye Whiskey
- Corn Whiskey
- Blended Whiskey
- Others
By Quality Types
- Premium
- High-End Premium
- Super Premium
By Distribution Channel
- Bars & Restaurants
- Liquor Stores
- Supermarkets
- E-Commerce
For this report, Introspective Market Research has segmented the Whiskey Market based on region:
Regional Outlook (Revenue in USD Million; Volume in Units, 2022-2028) North America
- The U.S.
- Canada
- Mexico
Eastern Europe
- Russia
- Bulgaria
- The Czech Republic
- Hungary
- Poland
- Romania
- Rest of Eastern Europe
Western Europe
- Germany
- UK
- France
- Netherlands
- Italy
- Spain
- Rest of Western Europe
Asia Pacific
- China
- India
- Japan
- Singapore
- Australia
- New-Zealand
- Rest of APAC
Middle East & Africa
- Turkey
- Saudi Arabia
- Qatar
- UAE
- Israel
- South Africa
South America
- Brazil
- Argentina
- Rest of SA
