The global whiskey market size is expected to reach USD 89.60 billion by 2025. Growing
product usage in the artistic preparation of alcoholic drinks is the key factor
driving the industry. Blended whiskey is likely to remain the most lucrative
product segment over the forecast period due to ongoing experimental activities
to produce innovative drinks.
The market has also experienced a high demand for rye-based and single-
and double-malt whiskey rich in new flavors. Use of malt whiskey in cocktail
formulation is anticipated to increase the demand further. The segment is
predicted to experience a steady CAGR over the next few years. The overall
whiskey market has witnessed a shift from branded and premium drinks to
super-premium and high-end premium drinks produced by skilled craftsmen using
traditional processes.
This growth is driven by various factors, such as increasing disposable
income levels and changing lifestyles and consumer preferences. The millennial
generation with its considerable purchasing power is the key consumer for the
market. The product is manufactured using farm-grown grains by distillers, with
a blend of whole spices, herbs, and grains to improve their taste and flavor.
The global industry is majorly concentrated in North America and Europe owing
to the high consumer demand in U.S., U.K., and France.
The demand for blended whiskey is likely to witness a strong growth on
account of increasing consumer base across the globe. The demand for
super-premium drinks is likely to witness a substantial growth in developed
countries, such as U.K., France, U.S., and Canada, over the next few years.
Factors responsible for this growth include “innovation and premiumization”,
modernized alcohol laws expanding consumer access and choice, hospitality tax
restraints, growth of “cocktail culture”, and a focus on “craft” products
throughout developed regions.
High-end premium segment is likely to witness considerable growth due to
market consolidation and high-entry-barrier of new companies. However, a small
customer base and high prices of these products may limit the segment growth.
The U.S. whiskey market is proliferating in line with the increasing disposable
income levels, which has resulted in rising demand for the premium-quality
products, such as corn and malt whiskeys.
Access Research Report of Whiskey Market@ https://www.grandviewresearch.com/industry-analysis/whiskey-market
Further key findings from the study suggest:
· Blended whiskey dominated the global market
in 2018; while, the malt whiskey segment is projected to ascend at a CAGR of
7.1% over the forecast period
· The premium quality segment led the global
market in 2018 accounting for a revenue share of 43.7%
· Rising preference for high-quality craft
whiskey over those provided by established brands owing to the distinct taste
and flavors will drive the segment
· The whiskey market in North America has
grown at a prolific rate over the past few years owing to consumer preference
for conventional, locally produced drinks
· Pernod Ricard, Hotaling & Co., William
Grant & Sons, and Diageo plc are the prominent companies in the global
market
· Most of these manufacturers provide
whiskeys produced from locally-grown grains, such as rye, barley, and wheat.
The whiskey distilleries owned by these companies are majorly located in U.S.
and Europe owing to the substantial demand
Access Press Release of
Whiskey Market@ https://www.grandviewresearch.com/press-release/global-whiskey-market
Grand View Research has
segmented the global whiskey market on the basis of product, quality, and
region:
Whiskey Product
Outlook (Volume, Million Liters; Revenue, USD Million, 2014 - 2025)
·
Malt
·
Wheat
·
Rye
·
Corn
·
Blended
·
Others
Whiskey Quality
Outlook (Volume, Million Liters; Revenue, USD Million, 2014 - 2025)
·
Premium
·
High-end
Premium
·
Super
Premium
Whiskey Regional
Outlook (Volume, Million Liters; Revenue, USD Million, 2014 - 2025)
·
North
America
·
Europe
·
Asia
Pacific
·
Central
& South America
·
Middle
East & Africa
About Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides
syndicated research reports, customized research reports, and consulting
services. To help clients make informed business decisions, we offer market
intelligence studies ensuring relevant and fact-based research across a range
of industries, from technology to chemicals, materials and healthcare.
