Whisky Market Drivers, Size And Growth Insights 2024-2033

Overview and Scope

Whisky is an alcoholic beverage made by fermenting malted rye, barley, corn, or wheat grain mash. This is created by processing, malting, fermentation, distillation, and barrel maturation. It is distilled all over the world and is frequently aged in oak barrels before being enjoyed as a modern and recreational beverage.

 

Sizing and Forecast

The whisky market size has grown steadily in recent years. It will grow from $58.97 billion in 2023 to $61.51 billion in 2024 at a compound annual growth rate (CAGR) of 4.3%.  The growth in the historic period can be attributed to cultural and lifestyle trends, globalization and international trade, premiumization and luxury branding, craftsmanship and tradition, innovation in flavors and blends.

 

The whisky market size is expected to see steadily grown in the next few years. It will grow to $71.85 billion in 2028 at a compound annual growth rate (CAGR) of 4.0%.  The growth in the forecast period can be attributed to emerging markets and rising middle class, e-commerce and digital marketing, exploration of new ingredients, environmental sustainability practices, rising interest in collectibles and limited editions. Major trends in the forecast period include blurred lines with other spirit categories, limited edition releases and collectibles, cask strength and non-chill filtering preferences, e-commerce and direct-to-consumer sales, cultural and heritage storytelling.

 

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Segmentation & Regional Insights

The whisky market covered in this report is segmented –

1) By Type: Alcoholic Whisky, Non- Alcoholic Whisky

2) By Flavour: Unflavored, Flavored

3) By Sales Channel: B2B (business-to-business), B2C (business-to-consumer)

 

North America was the largest region in the whisky market in 2023. The regions covered in the whisky 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

The increasing whisky consumption is expected to propel the growth of the whisky market going forward. Whisky has been consumed for its health benefits, rich flavor, and cultural significance. Whisky has numerous health benefits, including lowering the risk of heart disease, stroke, and cancer, and it also contains antioxidants that aid in the fight against free radicals. Drinking whisky can also improve cognitive function, aid digestion, and reduce stress. Furthermore, whisky is low in carbohydrates and can be an excellent choice for those on a low-carb diet. For instance, in March 2023, according to a report by the Distilled Spirits Council of the United States, a US-based national trade association, American Whisky exports increased by 32% to $1.28 billion in 2021. Therefore, increasing whisky consumption drives the whiskey market.

 

Key Industry Players

Major companies operating in the whisky market report are  Diageo plc, Bacardi Limited, William Grant & Sons Ltd., The Edrington Group Limited, Beam Suntory Inc., Brown–Forman Corporation, Whyte & Mackay Limited, Inver House Distillers Limited, LVMH Moët Hennessy Louis Vuitton SE, Loch Lomond Distillery Company Limited, Asahi Group Holdings Ltd., Pernod Ricard SA, Chivas Brothers Limited, La Martiniquaise Co., Belvedere SA, Allied Blenders and Distillers Pvt Ltd., Red Brick Brewing Company LLC, Suntory Beverage & Food Limited, Constellation Brands Inc., Heaven Hill Distilleries Inc., Canadian Mist Distillery Ltd., Forty Creek Distillery Ltd., Glenora Distillers International Ltd., Hood River Distillers Inc., Pemberton Distillery Inc., Corby Distilleries Limited, Sazerac Company Inc., Tomintoul Distillery Ltd., Tormore Grain Scotch Whisky, The English Whisky Co. Ltd., Sacred Spirits Company Ltd., Bimber Distillery Ltd., East London Liquor Company Limited, Cotswolds Distillery Ltd., The Lakes Whiskymakers Ltd., Oxford Rye Whisky Ltd., Ole Smoky Distillery LLC, McCormick Distilling Company, Clifford Distilling LLC, Archie Rose Distilling Co. Pty Ltd., Hellyers Road Distillery Pty Ltd., Hoochery Distillery Pty Ltd., Lark Distillery Pty Ltd., Timboon Railway Shed Distillery Pty Ltd., Kirin Holdings Company Limited .

 

The whisky market report table of contents includes:

1. Executive Summary
2. Whisky Market Characteristics
3. Whisky Market Trends And Strategies
4. Whisky Market – Macro Economic Scenario
5. Global Whisky Market Size and Growth
6. Whisky Market Segmentation
7. Whisky Market Regional And Country Analysis

……………..

33. Key Mergers And Acquisitions In The Whisky Market
34. Whisky Market Future Outlook and Potential Analysis
35. Appendix

 

List Of Tables:

Table 1: Global Historic Market Growth, 2018-2023, $ Billion

Table 2: Global Forecast Market Growth, 2023-2028F, 2033F, $ Billion

Table 3: Global Whisky Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 4: Global Whisky Market, Segmentation By Flavor, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 5: Global Whisky Market, Segmentation By Sales Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

………….

Table 74: Diageo plc Financial Performance

Table 75: Bacardi Limited Financial Performance

Table 76: William Grant & Sons Ltd. Financial Performance

Table 77: The Edrington Group Limited Financial Performance

Table 78: Beam Suntory Inc. Financial Performance

 

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