According to the latest report by IMARC Group, titled " Irish Whiskey Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027," the global Irish whiskey market reached a value of US$ 4.33 Billion in 2021. Irish whiskey is generally prepared with a blend of un-malted and malted barley that is mainly served with different cocktail recipes and simple soda highballs. It is a dark distilled spirit with a fruity and vanilla taste that is widely available in multiple varieties that differ on the basis of climatic conditions and distillation period. It also exhibits some health benefits if consumed in moderation, including minimizing the risks of developing heart diseases and reducing stress. In comparison to other types of whiskeys, Irish whisky is prepared from a yeast-fermented mash of malted barley, which is usually distilled thrice to provide a lighter and smoother finish.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Irish Whiskey Market Trends:
The global market is primarily driven by the increasing consumption of alcohol-based beverages among individuals. This is supported by the rising preferences for alcoholic drinks in public events and corporate gatherings. Moreover, the changing lifestyle patterns and the inflating disposable income levels of the masses have provided a boost to the sales of Irish whiskey across the globe. Additionally, significant growth in the food and beverages and hospitality sectors has created a positive outlook for the market. In line with this, the proliferation of restaurants and clubs across numerous countries are acting as other growth-inducing factors. Furthermore, leading manufacturers are heavily investing in developing robust marketing strategies and celebrity endorsements, which is providing an impetus to the market growth. Other factors, including innovative packaging solutions, the advent of product variants with exotic flavors and the easy product availability via online and offline retail channels, are further contributing to the market growth. On account of the aforementioned factors, the market is anticipated to reach a value of US$ 6.91 Billion, growing at a CAGR of 7.60% during 2022-2027.
- On the basis of the type, the market has been segmented into blended, single malt, single pot still and single grain.
- Based on the pricing, the market has been bifurcated into mass and premium.
- On the basis of the sales channel, the market has been classified into on-trade and off-trade.
- Based on the region, the market has been divided into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Latin America (Brazil, Mexico and others) and the Middle East and Africa.
- The competitive landscape of the market has been studied in the report with the detailed profiles of the key players. Some of the key players are Beam Suntory Inc. (Suntory Holdings Limited), Boann Distillery, Brown-Forman Corporation, Connacht Whiskey Company Limited, Diageo plc, Edrington, Pernod Ricard, Sazerac Company Inc., Teeling Whiskey Distillery, West Cork Distillers and William Grant & Sons Ltd.
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