Whisky Market Analysis: Size, Share, and Forecast
Whisky Market Size and Forecast
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:
Whisky Market Research Insights
- South Korea is a leading consumer of super-premium whisky (such as aged scotch whisky). This trend is expected to continue over the forecast period.
- In established vodka belt countries in Central and Eastern Europe, consumer preference is shifting from white to dark spirits. This can be attributed to fatigue with white spirits and partly due to the curiosity to try a new product.
- Asia accounts for approximately more than 50% of the global spirit consumption. China and India are some of the fastest growing whisky markets in the Asia-Pacific region.
- Increased health concerns have resulted in consumers to be more conscious of their drinking behavior. This will result in renewed interest to pair food with whisky to reduce the adverse effects of alcohol.
- Japan is emerging as a significant producer of single malt whisky and Japanese whisky is getting prominent exposure in countries such as Norway, France, and Sweden.
- The Irish whisky segment accounts for the largest market share of the global whisky market, holding an edge over the scotch and American whisky segments.
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Whisky Market Share and Segmentation
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:
- Whisky Market by Product Type
- Scotch Whisky market
- American Whisky market
- Canadian Whisky Market
- Irish Whisky market
- Flavored Whisky Market
- Others
- Spanish whisky market
- Japanese whisky market
- Danish whisky market
- English whisky market
- German whisky market
- Indian whisky market
- Australian whisky market
- Whisky Market by Quality Type
- Premium Whisky Market
- High-End Premium Whisky Market
- Super Premium Whisky Market
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:
- Whisky market outlook
- Whisky market trends
- Whisky market size
- Whisky market share
- Whisky market growth
- Whisky market vendor landscape
- Whisky industry statistics
