The joy of fermented grain mesh, whiskey is an alcoholic drink which makes use of grains such as barney, wheat and corn. And, between 2018 and 2026, these drinks aged in wooden oak (white) barrels are set to charge a decent CAGR (Compound Annual Growth Rate), creating some very profitable growth opportunities. Players in the market would leave no stone unturned to make the most of these and that in turn would lead to increase in worth of the lucrative global whiskey market.
Some of the notable trends and developments are mentioned below. These are going to drive much growth in the global whiskey market.
- There is a massive increase in consumer base in U.K., United State, France and Canada. They are usually demanding for premium drinks, creating thrilling opportunities for market players. Besides, a massive rise in disposable income in various developing economies is further taking the graph higher. The rise in income in these regions is an outcome of robust economic performances demonstrated by these countries. Besides, in economies, like those in Asia Pacific region (APAC), are witnessing westernization on a massive scale. And, that looks promising because it will eventually lead to refining of palettes, and demand for premium whiskey brands. This trend is also an outcome of cultural shift. With internet and rise of social media, the demand for premium whiskeys is seeing an upward trajectory over the forecast period.
Whiskey Market: Overview
Whiskey is an alcoholic drink made from fermented grain mash. Some of the popularly used grains for manufacturing of whiskey are rye, barley wheat and corn. Typically this grains are aged in wooden white oak barrels which gives it a unique taste.
An upcoming Transparency Market Research report on the whiskey market promises to cover all essential details that could help bolster growth in the future. The report covers key trends, challenges, geographical distribution, and the competitive landscape of the global whiskey market.
Whiskey Market: Notable Developments
Some of the notable developments in the whiskey market are
In October 2018, La Martiniquaise collaborated with Bardinet S.A., a Scotland-based cider manufacturing company to produce a single-malt whiskey. This will help La Martiniquaise to strengthen its foothold in U.K.
Apart from this, key players such as Jack Daniel is introducing flavored whiskey such as Tennessee Honey and Fireball Cinnamon Whiskey to widen its consumer pool.
Further, top players in the whiskey market are including exclusive products in their portfolios to target upper class consumer and use locally-grown grains and spices to impart a distinct taste and flavor in offerings.
Some of the key players operating in the whiskey market are Angus Dundee Distillers Plc., Allied Blenders and Distillers Pvt. Ltd., Pernod Ricard, Bacardi Limited, Brown-Forman, Diageo, Suntory Holdings Ltd., Asahi Group Holdings, and La Martiniquaise.
Whiskey Market: Key Growth Dynamics
The global whiskey market is expected to witness a strong growth on account of increasing consumer base across the globe. Surge in the demand for super-premium drinks in developed countries, such as U.K., France, U.S., and Canada is expected to offer a substantial boost to the whiskey market.
Among with this, revised alcohol laws in U.S. have expanded consumer access and choice. Furthermore, a return of cocktail culture has aided a shift in consumer preferences from beer to more complex and premium whiskey.
Improving economic conditions have helped to increase the demand for expensive whiskey, which has contributed heavily towards revenue growth. Another factor that has aided in the rapid increase in this market is the effort by trade association and spirit manufacturers into pushing states in the U.S. to allow sale on Sundays.
However, one of the major factor expected to affect the growth of the global whiskey market is stringent regulations and high taxation of alcoholic beverage by governments. Whiskey is an alcoholic beverage and it needs to follow various government regulation, this is expected to impede the growth of the market in the coming years.
However, growing clubs and pubs across the globe is a strong factor expected to accelerate the demand for whiskey in the coming year. Along with this, growing consumer bases for alcoholic beverages with distinct flavors and strong tastes is projected to offer lucrative opportunities for the growth of the whiskey market.
Whiskey Market: Regional Outlook
Geographically, North America is expected to dominate the global whiskey market during the forecast period. This is mainly because of the tremendous demand for whiskey in the U.S. Apart from this, availability of advanced brewing machinery for high-quality production has created lucrative opportunities for the whiskey market.
The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.
The study is a source of reliable data on:
- Market segments and sub-segments
- Market trends and dynamics
- Supply and demand
- Market size
- Current trends/opportunities/challenges
- Competitive landscape
- Technological breakthroughs
- Value chain and stakeholder analysis
The regional analysis covers:
- North America (U.S. and Canada)
- Latin America (Mexico, Brazil, Peru, Chile, and others)
- Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
- Eastern Europe (Poland and Russia)
- Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
- Middle East and Africa (GCC, Southern Africa, and North Africa)
The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.
A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.
Highlights of the report:
- A complete backdrop analysis, which includes an assessment of the parent market
- Important changes in market dynamics
- Market segmentation up to the second or third level
- Historical, current, and projected size of the market from the standpoint of both value and volume
- Reporting and evaluation of recent industry developments
- Market shares and strategies of key players
- Emerging niche segments and regional markets
- An objective assessment of the trajectory of the market
- Recommendations to companies for strengthening their foothold in the market
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.