Whiskey Market with Segmentation, Statistical Forecast and Competitive Analysis Report to 2025
By: Sangmeshwar Swami
Tags: Whisky Market, Beer, Scotch, Wine, Whiskey

Global Market Insights, Inc. has added a new report on Whiskey market that provides a comprehensive review of this industry with respect to the driving forces influencing the market size. Comprising the current and future trends defining the dynamics of this industry vertical, this report also incorporates the regional landscape of market in tandem with its competitive terrain.

Rise in consumer spending on alcoholic beverages for enhanced taste & experience propelling the global whiskey market. Product innovations such as single malt, organic, and flavored distilled beverage accompanied by consumer preferences for trying new products will drive the industry share. Taste variance owing to variance in use of key ingredients such as corn, barley, rye, sugarcane, and others and production process are the key factors differentiating the product manufactured in different regions.

Strong growth in the global spirits industry owing to the increasing population with legal drinking age, rapid urbanization, and rise in real incomes. According to the UN, the global urban population is projected to increase from 54% in 2014 to around 68% by 2050. Increasing house parties, higher income per capita, and established distribution network for distilled beverages support the product penetration. However, increase in raw materials costs can limit product adoption. Also, changing geopolitical conditions can result in rise in import duties, thereby restaining the global trade levels.

Rapid increase in the count of distilleries has surged the global distilled beverages exports. As per the Wine and Spirit Trade Association (WSTA), the number of distilleries in the UK has increased from 116 in 2010 to 315 in 2017. Also, the Irish distilled beverage exports increased from 13% in 2018 as the number of licensed distilleries in the country have grown substantially. Further, product marketing and promotions supported by rising tourism has surged the demand for imported liquor. For instance, the number of visitors in Irish distilleries increased by 13.4% in 2018, with a total count of 923 thousand people.

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Global whiskey market is competitive due to presence of large count of regional and multinational players in the market. Key industry players in market are Diageo, Pernod Ricard, William Grant and Sons, Bacardi, Beam Suntory, and Brown Forman. Leading brands in the market include top brands are Johnnie Walker, Jack Daniel’s, Jim Beam, Officer’s Choice, Imperial Blue and Royal Stag. Merger & acquisitions, geographic expansion, and increasing production capacity are among the key strategies observed in the industry. In April 2019, Diageo increased it 60% share in Sichuan Shuijingfang Company Limited to 70% to gain competitive edge in the market.

Global whiskey industry observes product innovations as the consumers are demanding wide variety of products in alcoholic beverage. Emerging craft and artisanal whiskey category will upsurge the demand for the product world-wide. Rise in innovative and creative cocktails trend in the U.S. will boost further business growth. Consolidation and mergers & acquisition activities in the industry are rising as companies thrive to increase their market share. Diversified independent distilleries and focused independent distilleries are great opportunities for the buyers in the market. Changing lifestyle and increasing disposable will propel the market for whiskey.

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The global whiskey market share in competitive with the presence of several large scale manufacturers with established brands along with an increasing count of new distilleries across the globe. The prominent players in the whiskey market are Pernod Ricard, Diageo, Bacardi, William Grant and Sons, Beam Suntory, Brown Forman Crown Royal, and Allied Blenders & Distillers (ABD). New product developments, Product promotions, distribution network expansion, and mergers & acquisitions are among the key strategies observed in the industry.

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