Whiskey Market Overview, Dynamics, Dynamics and Key Players

Whiskey is a distilled liquor manufactured by distilleries from fermented malted grains such as rye, maize, or barley. It's an alcoholic drink with a bright, pale brown colour that originated in Ireland and Scotland.

Market Dynamics:

The establishment of favourable trade policies by various governments, as well as the decrease of import levies on spirits, are driving the global whiskey market forward. For example, in July 2018, the European Union and Japan agreed to eliminate tariffs on traded goods such as Japanese whiskey and scotch. Furthermore, the expansion of distilleries around the world is likely to fuel market growth over the forecast period. According to Her Majesty's Revenue and Customs, 54 new distilleries opened in the United Kingdom in 2018. However, swings in average demand for aged premium whiskeys are projected to stifle expansion in the worldwide whiskey market.

 

Whiskey Market

Market Outlook: 

The global whiskey market is divided into American whiskey, Scotch whiskey, Canadian whiskey, Irish whiskey, and others based on product type. Over the projection period, the Scotch whiskey category is expected to have a prominent position in the market. Customized services provided by market vendors, rising popularity of Scotch whiskey-based tourism, and an expanding number of Scotch whiskey distilleries throughout the world are all contributing to the segment's growth. According to the Scotch Whiskey Association, the European Union was one of the most important markets for scotch whiskey in 2018, accounting for about 36% of total exports in terms of volume.

Off-trade distribution had the biggest market share in 2018 when it came to distribution channels. The off-trade distribution channel is likely to expand due to the expansion of the travel and tourist industry, which is expected to drive whiskey sales through outlets such as duty-free shops and other outlets. Consumers like to save high-end products for special occasions, which is expected to propel the market forward.

 

 

 

Key Players:

Diageo plc, Pernod Ricard, William Grant and Sons Ltd., Crown Royal, Beam Suntory, Inc., Allied Blenders & Distillers (ABD) Pvt. Ltd., Brown–Forman Corporation, and Suntory Beverage & Food Limited are among the major companies in the global whiskey business.