Whisky Market Size, Share, Growth, Industry & Revenue [2031]
Whisky Market Size, Share, Growth, Industry & Revenue [2031]
Segments - Global Whisky Market by Products (Scotch Whisky, American Whisky, Canadian Whisky, Irish Whisky, and Others), Distribution Channels (On-trade and Off-trade), and Regions (Asia Pacific, North America, Europe, Latin America, and Middle East & Africa) Forecasts, 2023-2031
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| Report ID :FB-2877
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| 198 Pages
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Report Description
The global whisky market size was valued at USD 75.27 Billion in 2022 and is projected to reach USD 208.73 Billion by 2031, expanding at a CAGR of around 12% during the forecast period, 2023 – 2031. Traditionally, whiskey was made from the fermented grain mashes of malted barley, rye, wheat, or corn. It is generally aged in wood barrels. Scotch whiskey, grain whiskey, blended whiskey, Irish whiskey and American whiskey are some of the most commonly consumed whiskey varieties. It is beneficial for health if consumed in moderate amounts, and it reduces the risk of complications related to blood pressure and heart. Excessive consumption is associated with more serious health consequences. As an alternative to alcohol, it can also be applied to burns as a disinfectant in case of an emergency.
Whisky Market Trends, Drivers, Restraints, and Opportunities
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Rising millennial population globally, increase in spending capacity, and changing consumer taste profile of alcoholic beverages are some of the key factors expected to increase the demand for specialty and blended whisky during the forecast period.
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Growing consumer awareness regarding the health benefits of whiskey such as its ability to lower risk of heart diseases, diabetes, and dementia to some extent, fight cancer, promote weight loss, act as a digestive aid, and reduce stress is boosting the market growth.
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Growing trend of social gatherings and parties among the younger generation is contributing to the growth of the market.
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The sudden closure of restaurants, bars, and pubs owing to the stay-at-home orders issued by governments of different countries during the COVID-19 pandemic is likely to decline the product demand for a short to medium timeframe.
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The travel restrictions imposed in different countries of the world created a shortage of casks required for storage of the whisky, which is likely to take a toll on the market growth to some extent.
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Product innovations such as organic whiskeys are gaining rapid preference among consumers across the globe.
Scope of Whisky Market Report
The report on global whisky market includes an assessment of the market, size, share, trends, segments, and regional markets. Overview and dynamics have been included in the report.
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Attributes |
Details |
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Report Title |
Global Whisky Market - Industry Analysis, Size, Share, Growth, Trends And Forecast |
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Base Year |
2022 |
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Historic Data |
2016 & 2021 |
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Forecast Period |
2023–2031 |
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Segmentation |
Products (Scotch Whisky, American Whisky, Canadian Whisky, Irish Whisky, and Others), Distribution Channels (On-trade and Off-trade) |
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Regional Scope |
Asia Pacific, North America, Europe, Latin America, and Middle East & Africa |
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Report Coverage |
Market scope, analysis, share, competitive analysis, growth facts, restraints, opportunities, and revenue forecast |
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Key Players Covered in the Report |
William Grant and Sons, Beam Suntory, Diageo Plc., Pernod Ricard, Brown Forman, Bacardi, Angus Dundee Distillers Plc., Allied Blenders and Distillers Pvt. Ltd., King Car Group (Kavalan Distillery), Constellation Brands Inc., Moët Hennessy Louis Vuitton (LMVH) and La Martiniquaise |
Whisky Market Segment Insights
Scotch whisky segment is projected to hold a significant market share
In the terms of products, the global whisky market can be divided into scotch whisky, American whisky, Canadian whisky, Irish whisky, and others. Scotch whiskey was the most widely consumed whiskey globally in 2020. The high rate of consumption of scotch whiskey can be attributed to the superior taste profile of the product and growing consumer demand for the single malt and blended scotch flavour. Further, scotch whiskey is available in a variety of flavors, such as caramel, orange, and vanilla, thus consumers can select from wide range of flavours. Soaring consumer demand is expected to spur demand for products and facilitate the industry landscape, which is estimated to drive the segment growth.
Off-trade segment is anticipated to account for a substantial share
Based on distribution channels, the global whisky market can be bifurcated into on-trade and off-trade. The off-trade segment is expected to expand at a CAGR of 6.4% during the forecast period. The COVID-19 pandemic and the resultant lockdowns imposed in different countries across the world are encouraging in-house drinking of whiskey and growing consumer dependence on online retail sales channels.
Asia Pacific is expected to dominate the market
On the basis of regions, the market can be classified as Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. The Asia Pacific whisky market is expected to expand at a remarkable CAGR during the forecast period. This is mainly ascribed to increasing middle-class population in the region. Fluctuating consumer taste for alcoholic beverages and increasing trend of socializing and weekend parties, especially by youngsters in the region can further accelerate the market growth. Increasing disposable income of people, growing younger population legally eligible for consumption of alcoholic drinks, and effective indirect marketing strategies implemented by whiskey manufacturers for marketing their products is likely to further elevate product sales and augment the regional industry expansion.
Segments
By Products
- Scotch Whiskey
- American Whiskey
- Canadian Whiskey
- Irish Whiskey
- Other Whiskeys
By Distribution Channels
- On-trade
- Off-trade
By Regions
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
By Key Players
- William Grant and Sons
- Beam Suntory
- Diageo Plc.
- Pernod Ricard
- Brown Forman
- Bacardi
- Angus Dundee Distillers Plc.
- Allied Blenders and Distillers Pvt. Ltd.
- King Car Group (Kavalan Distillery)
- Constellation Brands Inc.
- Moët Hennessy Louis Vuitton (LMVH)
- La Martiniquaise
Competitive Landscape
Key players in the global whisky market are William Grant and Sons, Beam Suntory, Diageo Plc., Pernod Ricard, Brown Forman, Bacardi, Angus Dundee Distillers Plc., Allied Blenders and Distillers Pvt. Ltd., King Car Group (Kavalan Distillery), Constellation Brands Inc., Moët Hennessy Louis Vuitton (LMVH) and La Martiniquaise. These players engage in mergers & acquisitions, collaborations, agreements, and partnerships to strengthen their geographical presence.
Table Of Content
1. Executive Summary2. Assumptions and Acronyms Used
3. Research Methodology
4. Whisky Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Whisky Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Whisky Market - Supply Chain
4.5. Global Whisky Market Forecast
4.5.1. Whisky Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Whisky Market Size (000’ Units) and Y-o-Y Growth
4.5.3. Whisky Market Absolute $ Opportunity
5. Global Whisky Market Analysis and Forecast by Region
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Region
5.2.2. Y-o-Y Growth Projections by Region
5.3. Whisky Market Size and Volume Forecast by Region
5.3.1. North America
5.3.2. Latin America
5.3.3. Europe
5.3.4. Asia Pacific
5.3.5. Middle East and Africa (MEA)
5.4. Absolute $ Opportunity Assessment by Region
5.5. Market Attractiveness/Growth Potential Analysis by Region
5.6. Global Whisky Demand Share Forecast, 2019-2026
6. North America Whisky Market Analysis and Forecast
6.1. Introduction
6.1.1. Basis Point Share (BPS) Analysis by Country
6.1.2. Y-o-Y Growth Projections by Country
6.2. North America Whisky Market Size and Volume Forecast by Country
6.2.1. U.S.
6.2.2. Canada
6.3. Absolute $ Opportunity Assessment by Country
6.4. Market Attractiveness/Growth Potential Analysis
6.4.1. By Country
6.4.2. By Product Type
6.4.3. By Application
6.5. North America Whisky Demand Share Forecast, 2019-2026
7. Latin America Whisky Market Analysis and Forecast
7.1. Introduction
7.1.1. Basis Point Share (BPS) Analysis by Country
7.1.2. Y-o-Y Growth Projections by Country
7.1.3. Latin America Average Pricing Analysis
7.2. Latin America Whisky Market Size and Volume Forecast by Country
7.2.1. Brazil
7.2.2. Mexico
7.2.3. Rest of Latin America
7.3. Absolute $ Opportunity Assessment by Country
7.4. Market Attractiveness/Growth Potential Analysis
7.4.1. By Country
7.4.2. By Product Type
7.4.3. By Application
7.5. Latin America Whisky Demand Share Forecast, 2019-2026
8. Europe Whisky Market Analysis and Forecast
8.1. Introduction
8.1.1. Basis Point Share (BPS) Analysis by Country
8.1.2. Y-o-Y Growth Projections by Country
8.1.3. Europe Average Pricing Analysis
8.2. Europe Whisky Market Size and Volume Forecast by Country
8.2.1. Germany
8.2.2. France
8.2.3. Italy
8.2.4. U.K.
8.2.5. Spain
8.2.6. Russia
8.2.7. Rest of Europe
8.3. Absolute $ Opportunity Assessment by Country
8.4. Market Attractiveness/Growth Potential Analysis
8.4.1. By Country
8.4.2. By Product Type
8.4.3. By Application
8.5. Europe Whisky Demand Share Forecast, 2019-2026
9. Asia Pacific Whisky Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.1.3. Asia Pacific Average Pricing Analysis
9.2. Asia Pacific Whisky Market Size and Volume Forecast by Country
9.2.1. China
9.2.2. Japan
9.2.3. South Korea
9.2.4. India
9.2.5. Australia
9.2.6. Rest of Asia Pacific (APAC)
9.3. Absolute $ Opportunity Assessment by Country
9.4. Market Attractiveness/Growth Potential Analysis
9.4.1. By Country
9.4.2. By Product Type
9.4.3. By Application
9.5. Asia Pacific Whisky Demand Share Forecast, 2019-2026
10. Middle East & Africa Whisky Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Middle East & Africa Average Pricing Analysis
10.2. Middle East & Africa Whisky Market Size and Volume Forecast by Country
10.2.1. Saudi Arabia
10.2.2. South Africa
10.2.3. UAE
10.2.4. Rest of Middle East & Africa (MEA)
10.3. Absolute $ Opportunity Assessment by Country
10.4. Market Attractiveness/Growth Potential Analysis
10.4.1. By Country
10.4.2. By Product Type
10.4.3. By Application
10.5. Middle East & Africa Whisky Demand Share Forecast, 2019-2026
11. Competition Landscape
11.1. Global Whisky Market: Market Share Analysis
11.2. Whisky Distributors and Customers
11.3. Whisky Market: Competitive Dashboard
11.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
11.4.1. William Grant and Sons
11.4.2. Beam Suntory
11.4.3. Diageo Plc.
11.4.4. Pernod Ricard
11.4.5. Brown Forman
11.4.6. Bacardi
11.4.7. Angus Dundee Distillers Plc.
11.4.8. Allied Blenders and Di
Methodology
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