Whiskey Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR (2024 - 2029) | 5.60 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Whiskey Market Analysis
The Whiskey Market is expected to register a CAGR of 5.60% during the forecast period.
Consumers nowadays all over the world have more sophisticated palates compared to a few years ago. They are constantly looking to explore unique, high-quality alcoholic beverages such as whiskey, wine, and others. Including natural ingredients in alcoholic beverages improves their functionality, and such products are gathering much attention from consumers. Therefore, the changing lifestyle and preferences of consumers are some factors driving the global whiskey market.
The COVID-19 pandemic affected the whiskey market. For example, Pernod Ricard, one of the top players in the whiskey industry, witnessed a decline in profit margins by 20% as per the company's annual report. This was due to the closure of various hotels, restaurants, and alcohol shops worldwide, which limited whiskey sales. Moreover, due to decreasing international visitor spending by 65% around the globe and a decrease in exports, the whiskey industry experienced a significant decline.
However, post-pandemic, the whiskey market is recovering much faster, and it is anticipated to return to the pre-COVID stage over the next few years. The growing consumption of alcoholic beverages across various countries is contributing to market growth. High disposable income, changing consumer lifestyle, and high standard of living are some of the few trends influencing market growth.
Whiskey Market Trends
Growing Consumers Preferences Toward Brand Ownership
Demand for variety in scotch whiskey from emerging markets and the request for lower alcohol varieties and organic whiskey among health-conscious drinkers are driving the market forward. Moreover, with the increasing focus on healthy living worldwide, people prefer the top brands for consumption. Also, a new trend of organic whiskey has been initiated by top players in the market. For example, Bainbridge Organic Distillers have developed artisan-distilled spirits made from USDA-certified organic wheat, barley, triticale, and corn, grown especially for their distillery. Also, the quality of each of their products is a direct reflection of the superiority of their grains. Organic whiskey is mostly manufactured using grains such as malt barley, maize, wheat, and rye. Consumers prefer the top brands in whiskey due to the brand image and the quality offered by these brands.
North America holds the Largest Share
The US whiskey market is driven by premiumization trends and emerging consumer trends toward innovative brands and a diversification of their product ranges. Therefore, the American population's increased interest in premium products, high-end premium, and super-premium brands drove the growth over the past five years. Additionally, the prevalence of drinking trends is aiding the growth of the market. For instance, according to data published by Statistics Canada (Canadian Community Health Survey), 15.6% of Canadians were considered heavy alcohol drinkers. This factor is driving the sales of whiskey across North America. Additionally, the booming demand for spirits in on-trade channels, including full-service restaurants and cafés/bars (than off-trade sales performance), is expected to increase the demand for whiskey in the United States during the forecast period.
Whiskey Industry Overview
The whiskey market is witnessing high competition due to the diversified product portfolio of key players and growing investment in strategic expansion. These factors are leading to intense competition among the existing players. In addition, key players are focusing on online distribution channels for online marketing and branding of their products to expand their geographical reach and customer base. Key players operating in the whiskey market include Diageo PLC, Bacardi Ltd, Asahi Group Holdings Ltd, Pernod Ricard SA, and Suntory Beverage & Food Ltd, among others.
Whiskey Market Leaders
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Asahi Group Holdings, Ltd
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Diageo PLC
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Bacardi Ltd
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Pernod Ricard S.A.
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Suntory Holdings Limited
*Disclaimer: Major Players sorted in no particular order
Whiskey Market News
- October 2022: William Grant & Sons launched their travel retail exclusive range of whiskies under its Glenfiddich whisky brand. The range included four exclusive types of whiskies: Vat 01 is 40% ABV, Vat 02 is 43% ABV, Vat 03 is 50.2% ABV, and Vat 04 is 47.8% ABV.
- March 2022: Godawan Single Malt, a locally produced artisanal whisky, was introduced by Diageo India. The company has upscaled its portfolio in the nation. Godawan was initially offered in Rajasthan and Delhi, and the company later announced plans to make the product available throughout the country.
- August 2021: Pernod Ricard S.A. launched its new brand, "The Chuan Whiskey". According to the company, the whiskey launched is deeply embedded in Chinese culture and philosophy.
Whiskey Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions and Market Definition
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
- 4.1 Market Drivers
- 4.2 Market Restraints
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4.3 Porter's Five Forces Analysis
- 4.3.1 Threat of New Entrants
- 4.3.2 Bargaining Power of Buyers/Consumers
- 4.3.3 Bargaining Power of Suppliers
- 4.3.4 Threat of Substitute Products
- 4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
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5.1 Product Type
- 5.1.1 American Whisky
- 5.1.2 Irish Whisky
- 5.1.3 Scotch Whisky
- 5.1.4 Canadian Whisky
- 5.1.5 Other Product Types
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5.2 Distribution Channel
- 5.2.1 On-trade
- 5.2.2 Off-trade
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5.3 Geography
- 5.3.1 North America
- 5.3.1.1 United States
- 5.3.1.2 Canada
- 5.3.1.3 Mexico
- 5.3.1.4 Rest of North America
- 5.3.2 Europe
- 5.3.2.1 Spain
- 5.3.2.2 United Kingdom
- 5.3.2.3 Germany
- 5.3.2.4 France
- 5.3.2.5 Italy
- 5.3.2.6 Russia
- 5.3.2.7 Rest of Europe
- 5.3.3 Asia-Pacific
- 5.3.3.1 China
- 5.3.3.2 Japan
- 5.3.3.3 India
- 5.3.3.4 Australia
- 5.3.3.5 Rest of Asia-Pacific
- 5.3.4 South America
- 5.3.4.1 Brazil
- 5.3.4.2 Argentina
- 5.3.4.3 Rest of South America
- 5.3.5 Middle East and Africa
- 5.3.5.1 South Africa
- 5.3.5.2 Saudi Arabia
- 5.3.5.3 Rest of Middle East and Africa
6. COMPETITIVE LANDSCAPE
- 6.1 Most Adopted Strategies
- 6.2 Market Share Analysis
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6.3 Company Profiles
- 6.3.1 Diageo PLC
- 6.3.2 William Grant & Sons Ltd
- 6.3.3 Pernod Ricard SA
- 6.3.4 Suntory Beverage & Food Ltd
- 6.3.5 The Brown Forman Corporation
- 6.3.6 The Edrington Group
- 6.3.7 Bacardi Limited
- 6.3.8 Asahi Group Holdings Ltd
- 6.3.9 Whyte & Mackay
- 6.3.10 Kirin Holdings Company Limited (Fuji Gotemba)
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
8. DISCLAIMER
Whiskey Industry Segmentation
Whiskey is a distilled alcoholic beverage made from fermented barley, corn, rye, wheat mash, or by distilling beer. The whiskey market is segmented by product type, distribution channel, and geography. Based on product type, the market is segmented into American whisky, Irish whisky, Scotch whisky, Canadian whisky, and other product types. By distribution channel, the market is segmented as on-trade and off-trade channels. Based on Geography, the market is segmented into North America (United States, Canada, Mexico, and Rest of North America), Europe (Spain, United Kingdom, Germany, France, Italy, Russia, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and Rest of Asia-Pacific), South America (Brazil, Argentina, and Rest of South America), Middle East and Africa (South Africa, Saudi Arabia, and Rest of Middle East and Africa). For each segment, the market sizing and forecasts have been done on the basis of value (in USD million).
| Product Type | American Whisky | |
| Irish Whisky | ||
| Scotch Whisky | ||
| Canadian Whisky | ||
| Other Product Types | ||
| Distribution Channel | On-trade | |
| Off-trade | ||
| Geography | North America | United States |
| Canada | ||
| Mexico | ||
| Rest of North America | ||
| Geography | Europe | Spain |
| United Kingdom | ||
| Germany | ||
| France | ||
| Italy | ||
| Russia | ||
| Rest of Europe | ||
| Geography | Asia-Pacific | China |
| Japan | ||
| India | ||
| Australia | ||
| Rest of Asia-Pacific | ||
| Geography | South America | Brazil |
| Argentina | ||
| Rest of South America | ||
| Geography | Middle East and Africa | South Africa |
| Saudi Arabia | ||
| Rest of Middle East and Africa |
Whiskey Market Research FAQs
What is the current Whiskey Market size?
The Whiskey Market is projected to register a CAGR of 5.60% during the forecast period (2024-2029)
Who are the key players in Whiskey Market?
Asahi Group Holdings, Ltd, Diageo PLC, Bacardi Ltd, Pernod Ricard S.A. and Suntory Holdings Limited are the major companies operating in the Whiskey Market.
Which is the fastest growing region in Whiskey Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Whiskey Market?
In 2024, the North America accounts for the largest market share in Whiskey Market.
What years does this Whiskey Market cover?
The report covers the Whiskey Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Whiskey Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
What are the key sustainability challenges in the Whisky Industry?
The key sustainability challenges in the Whisky Industry are a) Whisky production requires significant amounts of water for barley cultivation, mashing, and cleaning b) Ensuring fair labor practices and sustainable farming methods throughout the supply chain is important
Whiskey Industry Report
The global whisky market is on a robust growth trajectory, spurred by a shift towards high-quality, distinctive alcoholic beverages, with scotch whiskey at the forefront, and the increasing popularity of cocktail culture among millennials. This trend is further bolstered by spirit tourism in Western countries and a rising demand for premium and organic whiskey selections. The market is bouncing back, fueled by growing disposable incomes and evolving consumer lifestyles. Scotch whiskey, known for its rich flavor and strictly regulated production, leads the market, with off-trade sales being the predominant distribution channel. Europe holds a substantial market share, while the Asia-Pacific region displays significant growth potential. Statistics for the Whisky Market share, size, and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Whisky analysis includes a market forecast outlook and historical overview. Get a sample of this industry analysis as a free report PDF download.
