The size of the global whisky market will increase USD 53.8 billion between 2017-2022, accelerating at a CAGR of nearly 6% during the forecast period. This growth in market size will be driven by numerous factors like new product launches, premiumization, the rising middle-class consumer demography from emerging markets, and increasing demand for Irish whiskey and American bourbon. The smooth and sweet taste, combined with competitive pricing has led to increased popularity for Irish whiskey and American bourbon among women and millennials.
One of the key whisky market trends that has already started to shape the market is wealthy consumers in established markets seeking out niche premium products that have a high production value. To cater to this demand, whisky market companies are developing premium product offerings, which in turn, will boost industry growth. Other emerging trends expected to gain traction over the next few years include an increasing demand for craft whisky and whisky-based tourism. Other insights provided within our whisky market reports include:
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Within our whisky industry research, we provide deep insights into the market landscape, its segments, and their market share. Our research experts segment this market by all major whisky product types including Scotch whisky, American whisky, Canadian whisky, Irish whisky, and more. Our research identifies that scotch whisky segment accounts for the largest market share of the blended whiskey market and will continue to lead all segments through 2022.
Our whisky market segmentation research offerings include:
We at Technavio, with our comprehensive understanding of the whisky market, have been monitoring the latest industry trends and developments to create an in-depth portfolio of market research reports. These reports help our clients identify opportunities within the market and develop effective strategies to optimize their market positions. Our whisky market reports offer the following insights: