Overview and Scope
Whiskey warehousing refers to a place used by whiskey makers to store whisky barrels in a specified facility. The warehousing facility are used for maturing the distilled alcohol in oak barrels for a longer time, which allows the whisky to develop its distinct flavor and aroma.
Sizing and Forecast
The whiskey warehousing market size has grown strongly in recent years. It will grow from $8.16 billion in 2023 to $8.92 billion in 2024 at a compound annual growth rate (CAGR) of 9.3%. The growth in the historic period can be attributed to rising consumer demand, globalization of whiskey consumption, expansion of distillery operations, quality control and aging processes, barrel size and storage requirements..
The whiskey warehousing market size is expected to see strong growth in the next few years. It will grow to $12.59 billion in 2028 at a compound annual growth rate (CAGR) of 9.0%. The growth in the forecast period can be attributed to continued whiskey market growth, e-commerce and direct-to-consumer sales, strategic warehousing locations, innovation in barrel materials, emerging markets and consumption patterns. . Major trends in the forecast period include smart warehousing solutions, energy-efficient warehousing practices, cross-docking practices, dynamic temperature and humidity control, high-tech security measures..
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Segmentation & Regional Insights
The whiskey warehousing market covered in this report is segmented –
1) By Whiskey Type: Scotch, Bourbon, Irish Whiskey, Canadian Whiskey, Japanese Whisky, Others
2) By Ownership: Private Warehouses, Public Warehouses, Bonded Warehouses
3) By Distribution Channel: On-Trade, Off-Trade
North America was the largest region in the whiskey warehousing market in 2023. Asia-Pacific is expected to be the fastest-growing region in the whiskey warehousing market report during the forecast period. The regions covered in the whiskey warehousing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
Growing consumption of alcoholic beverages is expected to propel the growth of the whiskey warehousing market going forward. An alcoholic beverage is any drink other than water that contains more than 1.2% alcohol by volume. The contemporary drinking culture in business events, parties, and other settings has resulted in increased use of whisky for its flavor and texture. Hence, the growing consumption of alcoholic beverages is boosting the growth of the whiskey warehousing market For instance, in April 2022, according to the Alcoholic Beverage Consumption Statistics and Trends 2022, a report released by the Pennsylvania State University, a US-based state university, men were more likely to drink alcohol (63% vs. 57%), and people between the ages of 35 and 54 were more likely to drink (70% vs. 60%), as were elderly people (52%). Therefore, the growing consumption of alcoholic beverages is driving the growth of the whiskey warehousing market.
Key Industry Players
Major companies operating in the whiskey warehousing market are focusing on facility expansions to better meet the needs of their existing consumers. Facility expansions refer to the physical enlargement or enhancement of existing structures or spaces to accommodate increased capacity, improved capabilities, or additional functionalities. For instance, in February 2022, MGP Ingredients, Inc., a US-based distilled spirits and food ingredients producer company, announced a barrel warehouse expansion worth $12 million to meet the growing demand for American whiskey. The project will enable Lux Row Distillers to be operational 24 hours a day and boost its capacity by 75%.
The whiskey warehousing market report table of contents includes:
1. Executive Summary
2. Whiskey Warehousing Market Characteristics
3. Whiskey Warehousing Market Trends And Strategies
4. Whiskey Warehousing Market – Macro Economic Scenario
5. Global Whiskey Warehousing Market Size and Growth
….
31. Global Whiskey Warehousing Market Competitive Benchmarking
32. Global Whiskey Warehousing Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Whiskey Warehousing Market
34. Whiskey Warehousing Market Future Outlook and Potential Analysis
35. Appendix
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