According to the MRFR reports, the global whiskey market is projected to attain a valuation of over USD 84 Billion by the end of 2027. Furthermore, the market is anticipated to flourish at a healthy CAGR of approximately 4.35% during the review era.
Whiskey refers to a drink containing a high amount of alcohol. It is prepared from fermenting mash grains. The whiskey market has recorded enormous growth in recent years. The market’s growth is primarily driven by the growing global trends like partying and socializing. Furthermore, the growing awareness regarding the benefits of whiskey, such as weight loss and prevention of issues like diabetes, is also anticipated to impact the market’s growth positively. However, the regulations and taxations being implemented by various governments are likely to hinder the market’s growth over the assessment timeframe.
Segment Analysis
The global whiskey market has been fragmented into numerous segments based on distribution channels, packaging type, and region.
Based on type, the whiskey market is split into Scotch whisky, American whiskey, Irish whiskey, Canadian whiskey, and many others.
Based on packaging type, the market is split into cans and bottles.
The global whiskey market is fragmented into foodservice and retail by distribution channel.
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Regional Analysis
The global whiskey market is studied across five major regions: North America, South America, Europe, Asia-Pacific, and the Middle East & Africa.
The MRFR report suggests that the Asia-Pacific region will secure the top position in the global whiskey market over the forecasted era. The regional market’s growth is attributed to the growth in the number of restaurants and bars, particularly in countries such as New Zealand, India, Australia, and China.
The North American region is projected to acquire the second position in the market worldwide over the assessment era. The regional market’s growth is being driven by the rising per capita income of the population—furthermore, the growing demand from countries such as the US, Canada, and Mexico.
The European region is projected to record substantial growth over the review era. The regional market’s growth is being driven by the growing drinking culture and changing lifestyle across the region. In addition, the presence of major markets such as Germany, France, Italy, the UK, and Spain.
The Middle East and African region are projected to exhibit the last growth due to a lack of bars and restaurants and low disposable income.
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Recent Developments
The launch follows the brand’s expansion into Louisiana and the Ingram River Aged Flagship Bourbon launch last August.
Competitive Analysis
The global whiskey market has a strong competitive landscape with a wide number of players spread worldwide. The major market players adopt various strategies to maintain their lead, whereas minor players take active efforts to strengthen their global market footprint. Mergers, acquisitions, and partnerships are some of the popular strategies across the global market.
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The list of leading players in the global whiskey market includes Angus Dundee Distillers Plc. (UK), Bacardi Limited (UK), Brown-Forman (US), Suntory Holdings Ltd. (Japan), La Martiniquaise (France), The Edrington Group (UK), King Car Group (Taiwan), Allied Blenders and Distillers Pvt. Ltd. (India), Pernod Ricard (France), Diageo Plc (UK), Asahi Group Holdings (Japan), William Grant and Sons Holdings Ltd (UK), Constellation Brands, Inc. (the US), Moet Hennessy Louis Vuitton (France), and several others.
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