Market Outlook 2023-2028:
The global whiskey market size reached US$ 64.0 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 91.3 Billion by 2028, exhibiting a growth rate (CAGR) of 6% during 2023-2028.
Whiskey is an alcoholic beverage manufactured by fermenting the grain mash of malted barley, rye, wheat or corn. It is commonly aged in wooden barrels and is consumed as a rejuvenating and recreational drink. The most popular styles of whiskey include scotch whiskey, grain whiskey, blended whiskey, Irish and American whiskey. The consumption of whiskey at a moderate rate is considered beneficial for health as it reduces the risk of developing heart and blood pressure-related complications. However, excessive intake is associated with critical health issues. In cases of medical emergencies, it is also used as an alternative to alcohol to disinfect wounds.
Whiskey Market Trends:
Innovations and advancements in the manufacturing of alcoholic drinks, coupled with an increase in the number of whiskey distilleries across the globe are among the key factors driving the growth of the market. There is also an increasing demand for premium and super-premium whiskeys across both developed and emerging nations. Furthermore, changing lifestyles of consumers and the growing trend of socializing and mid-week/weekend parties among working professionals are also influencing the market positively. Whiskey is often associated with a desire to showcase class and sophistication among peers, which has resulted in consumers looking for innovative and unique drinking experiences. Additionally, extensive promotional activities by manufacturers to strengthen distribution and purchase channels, along with the development of online retailing portals that provide consumers with a hassle-free shopping experience, is driving the market further. Moreover, product innovations such as organic whiskeys are gaining rapid preference among consumers across the globe. Other factors, including rising disposable income levels and increasing urbanization, are also projected to contribute to the market growth.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global whiskey market report, along with forecasts at the global and regional level from 2023-2028. Our report has categorized the market based on product type, quality and distribution channel.
Breakup by Product Type:
- American Whiskey
- Irish Whiskey
- Scotch Whiskey
- Canadian Whiskey
Breakup by Quality:
- High-End Premium
- Super Premium
Breakup by Distribution Channel:
- Supermarkets and Hypermarkets
- Discount Stores
- Online Stores
- Restaurants and Bars
- Liquor Stores
Breakup by Region:
- North America
- Asia Pacific
- Middle East and Africa
- Latin America
The report has also analysed the competitive landscape of the market with some of the key players being Diageo plc, Bacardi Limited, Suntory Beverage & Food Limited, Pernod Ricard, The Brown–Forman Corporation, Asahi Group Holdings Ltd, William Grant & Sons Holdings Ltd, The Edrington Group, Allied Blenders and Distillers Pvt Ltd, Constellation Brands, La Martiniquaise, etc.
|Base Year of the Analysis
||Product Type, Quality, Distribution Channel, Region
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||Diageo plc, Bacardi Limited, Suntory Beverage & Food Limited, Pernod Ricard, The Brown–Forman Corporation, Asahi Group Holdings Ltd, William Grant & Sons Holdings Ltd, The Edrington Group, Allied Blenders and Distillers Pvt Ltd, Constellation Brands and La Martiniquaise
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Key Questions Answered in This Report:
- How has the global whiskey market performed so far and how will it perform in the coming years?
- What are the key regional markets in the global whiskey industry?
- What has been the impact of COVID-19 on the global whiskey industry?
- What is the breakup of the market based on the product type?
- What is the breakup of the market based on the quality?
- What is the breakup of the market based on the distribution channel?
- What are the various stages in the value chain of the global whiskey industry?
- What are the key driving factors and challenges in the global whiskey industry?
- What is the structure of the global whiskey industry and who are the key players?
- What is the degree of competition in the global whiskey industry?
- What are the profit margins in the global whiskey industry?