Global Whiskey Market Size and Share Outlook - Forecast Trends and Growth Analysis Report (2024-2032)

Global Whiskey Market Outlook

The global whiskey market reached a value of about USD 69.24 billion in 2023. The industry is further expected to grow at a CAGR of 4.2% in the forecast period of 2024-2032 to reach a value of approximately USD 100.34 billion by 2032. 

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The global whiskey market is being driven by the increased popularity of alcoholic beverages and rising disposable incomes and changing lifestyle patterns, particularly in emerging nations. By product type, the market can be segregated into American, Irish, Scotch, Canadian, and other whiskeys, with Scotch whiskey accounting for the largest market share. Among different quality, the premium whiskey remains the most preferred one.  

Region-wise, the Asia Pacific represents the leading whiskey market globally, accounting for a significant share in the industry. The growth of the industry in the region is driven by factors like rising living standards and inflating per capita income, in confluence with the growing demand for premium products and luxury brands in countries like India and China. 

Market Segmentation

Whiskey is a distilled alcoholic beverage that is generally produced via the fermentation of grain mash of malted barley, rye, wheat, or corn. It is widely consumed as a rejuvenating and recreational drink. The process of preparing good quality whiskey include steps like mashing, fermenting, blending, and bottling. Distillation, which is also one of the most crucial steps in whiskey preparation, helps to increase its alcoholic content. The prepared whiskey is further aged in wooden barrels made up of charred white oak, which enhances its quality. Moderate whiskey consumption is considered beneficial as it is associated with preventing stroke, improving the metabolism and heart functions, and fighting against cancer cells, although, its excessive intake could lead to critical health issues.

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The global whiskey market can be broadly categorised on the basis of its type into:

• American 
• Irish 
• Scotch 
• Canadian 
• Others 

On the basis of quality, the industry can be divided into:

• Premium
• High-End Premium 
• Super Premium

Based on distribution channel, the industry can be segmented into:

• Off-Trade 
• On-Trade 

The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

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Market Analysis

The global whiskey market is being driven by the growing demand for and consumption of alcoholic beverages globally. Such beverages are widely consumed as a recreational drink and have become extremely popular among people. The growth in the number of whiskey distilleries across the globe, and its increased production is supporting the growth of the industry. The factors like rising disposable incomes, changing lifestyle patterns, and rapid urbanisation and globalisation are aiding the whiskey market growth globally. 

Moreover, the growth of the retail sector is further propelling the whiskey market. The development of online retailing portals allows consumers to make hassle-free purchases. Also, the extensive promotional activities conducted by the major players have been able to capture consumers' attention, thus, aiding the industry further. 

The growing demand for premium and super-premium whiskeys in both developed and developing nations is significantly contributing to the whiskey market growth. Organic whiskey variants are manufactured using organic barley, which is further aged in virgin oak casks. Over the forecast period, constant product innovations, and a growing shift towards organic variants of whiskey are expected to boost the sales of the product. 

Competitive Landscape

The report gives a detailed analysis of the following key players in the global whiskey market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

• Diageo plc
• Bacardi Limited
• William Grant & Sons Limited    
• Brown-Forman
• Edrington
• Others

The comprehensive EMR report provides an in-depth assessment of the whiskey market based on the Porter's five forces model along with giving a SWOT analysis.

Key Highlights of the Report

Whiskey Market Report Snapshots

Whiskey Market Size

Whiskey Market Analysis

Whiskey Companies