The global whiskey market reached a value of US$ 59.8 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 86.1 Billion by 2027, exhibiting a CAGR of 6.12% during 2022-2027.
Whiskey is a type of distilled alcoholic beverage that is aged in wooden barrels made of charred white oak. It is prepared by fermenting the grain mash of rye, wheat, barley or corn. This is further followed by the process of mashing, blending and bottling. Whiskey is a rejuvenating and recreational drink that is widely associated with numerous health benefits. Its moderate consumption can aid in enhancing metabolism, regulating cholesterol levels and preventing the chances of stroke, dementia and heart attack.
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Note: 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 Whiskey Market Trends and Drivers:
The global market is primarily driven by the widespread preference for alcoholic beverages among the masses. Supported by rapid urbanization, the shifting lifestyle patterns of the masses and their inflating disposable income levels, this has facilitated the uptake of whiskey across the globe. Along with this, the rising trend of corporate gatherings and mid-week/weekend parties among working professionals is expected to provide a thrust to the market growth. The market is further driven by continual innovations and advancements in the manufacturing processes of alcoholic drinks.
Furthermore, the introduction of organic whiskey that is prepared from organic barley aged in virgin oak casks is gaining widespread prominence among the masses. Coupled with the growing popularity of online retail alcohol stores that offer ease of access, a vast array of product selections and a hassle-free shopping experience with flexible payment options, this is expected to provide an impetus to the market growth.
Some of the other factors contributing to the market growth include the growing prominence of whiskey-based tourism and the increasing demand for premium and super-premium whiskeys on the global level.
Global Whiskey Market 2022-2027 Analysis and Segmentation:
Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of the key players being: Diageo plc (DEO), Bacardi Corp (BACDA), SUNTORY BEVERAGE & FOOD LIMITED (STBFY), PERNOD RICARD (RI.PA), Brown Forman Inc (BF-B), ASAHI GROUP HLDGS (ASBRF), William Grant & Sons Holdings Ltd, The Edrington Group, Allied Blenders and Distillers Pvt Ltd, Constellation Brands, La Martiniquaise
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Insights on Market Segmentation:
Breakup by Product Type:
American Whiskey
Irish Whiskey
Scotch Whiskey
Canadian Whiskey
Others
Breakup by Quality:
Premium
High-End Premium
Super Premium
Breakup by Distribution Channel:
Off-Trade
Supermarkets and Hypermarkets
Discount Stores
Online Stores
Others
On-Trade
Restaurants and Bars
Liquor Stores
Others
Breakup by Region:
Europe
North America
Asia Pacific
Middle East and Africa
Latin America
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