Irish Whiskey Market Size to grow by USD 2404.3 million between 2024-2028
According to a research report “ Irish Whiskey Market” by Distribution Channel (Offline trade, Online trade) Type (Blended, Single malt, Single pot still, Single grain) Geography (Europe, North America, APAC, South America, Middle East and Africa)- Global Forecast to 2028 published by Technavio, the market size is estimated to grow by USD 2404.3 million, at a CAGR of 6.78% during the forecast period. The Irish whiskey market in the US is experiencing significant growth due to the increasing consumer preference for premium and craft whiskey varieties. This trend is being driven by the rising per capita income in the US, enabling consumers to afford higher-priced whiskeys. Vendors are responding to this demand by introducing new premium offerings, such as Dunville's 18-year-old single malt with a high ABV of 60.63% and Micil Distillery's two new Irish whiskeys, Inverin Small blended Irish whiskey with a 46% ABV and a price range of USD45, and Earls Island Single Pot Still Irish Whiskey with a 46% ABV and a price range of USD55. These new launches underscore the market's potential for growth in the forecast period.
Browse market data tables, figures, and in-depth TOC on “Irish Whiskey Market” by Distribution Channel (Offline trade, Online trade) Type (Blended, Single malt, Single pot still, Single grain) Geography (Europe, North America, APAC, South America, Middle East and Africa) Global Forecast to 2028. Download Free Sample
By Distribution Channel, the Offline trade segment is projected to dominate the market size in 2024
In the global Irish whiskey market, blended Irish whiskey held a significant market share in 2022. This whiskey category is produced by blending single malt whiskeys from the same or different distilleries. The blender meticulously combines these whiskeys to achieve a specific taste profile. Notable examples of blended Irish whiskey, such as Jameson, dominate the market due to their exceptional smoothness and broad appeal. Jameson's success can be attributed to its light, fruity flavor profile with hints of cereal grains, oakiness, and caramel derived from aging in oak barrels.
By Type, Blended segment is expected to hold the largest market size for the year 2024
In the Irish whiskey market, offline trade distribution channels play a significant role in reaching consumers. Key distribution channels include individual retailers, supermarkets, and hypermarkets. These channels provide consumers with a wide selection of Irish whiskey brands. Unlike online platforms, offline channels offer dedicated sections for Irish whiskey, enabling consumers to physically examine and compare products before purchase. Notable retailers in this sector include Tesco Plc (Tesco) and Carrefour SA (Carrefour), with Target Brands also offering a substantial presence. The availability of a diverse range of Irish whiskey brands in these establishments is anticipated to fuel the expansion of the offline trade distribution segment throughout the forecast period. Consumers also favor purchasing whiskey from specialized liquor stores due to their extensive collections of brands and flavors.
Europe is forecasted to hold the largest market size by region in 2024
The Irish whiskey market represents a significant growth opportunity for businesses in the global spirits industry. With a rich heritage and distinctive taste profile, Irish whiskey is experiencing a resurgence in popularity, driven by increasing demand from both domestic and international markets. Key growth drivers include expanding distribution networks, innovative marketing strategies, and a renewed focus on quality and craftsmanship. Companies looking to capitalize on this trend should consider strategic partnerships, product diversification, and investment in production capabilities to capture market share.
The Irish Whiskey Market growth and forecasting report also includes detailed analyses of the competitive landscape of the market growth and forecasting and information about 20 market companies, including:
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Research Analysis Overview
Title: Irish Whiskey Market: Navigating Challenges and Thriving Globally The Irish whiskey market, once a victim of the American Prohibition and trade wars, has experienced a remarkable resurgence. The Irish Independent Lavelle reported that e-trade and favorable attitudes towards craft alcoholic beverages have fueled global Irish whiskey sales. Despite challenges such as tax rates and excise ratios, Irish whiskey producers like Clonakilty Distillery and BlueCheck Ukraine continue to innovate. They focus on unique flavors, packaging, and high-quality ingredients, such as malted barley and unsalted malt, to differentiate their products. The premium Irish whiskey segment, including brands like Jameson, Castle Brand, William Grant Sons, and Diageo, has seen significant growth. Consumers, with increasing disposable income, are willing to pay a premium for the rich, complex flavors of Irish whiskey. However, the industry faces challenges like carbon content and competition from other spirits. To stay competitive, Irish whiskey producers must continue to innovate and adapt to changing consumer preferences and market conditions. In conclusion, the Irish whiskey market is thriving globally, with blended whiskeys and premium offerings leading the charge. Producers must navigate challenges like taxation, carbon content, and competition while focusing on quality and innovation to maintain growth.
Market Research Overview
Title: Investor's Guide to the Irish Whiskey Market: Growth Strategies, Financial Position, and Trends The Irish whiskey market has experienced significant growth in recent years, making it an attractive investment opportunity. This guide provides an overview of the market's financial position, growth strategies, and micro-economic factors. The mass segment of the Irish whiskey market is dominated by blended whiskeys from major players like Jameson Irish whiskey, Castle Brand, and Diageo. However, the preference for taste and uniqueness has led to the rise of single grain and Single Pot Still whiskeys from distilleries like Kilbeggan Distillery and Clonakilty Distillery. Micro-economic factors such as tax rates, excise ratios, and price per hectare influence the financial position of distilleries. For instance, countries like Libya, with large Muslim populations, have lower demand due to religious prohibitions. Innovative trends, such as clean labels, organic content, and fruit-flavored whiskeys, cater to the adult population's changing preferences. Premium products from brands like Redbreast, Bushmills, and Teeling are popular in second-largest markets like the US, Europe, and Asia. E-commerce platforms like e-trade and online shopping sites have made Irish whiskey accessible to consumers worldwide. Innovation and experimentation, such as shooting recipes, cocktails, and smoothness, are key to staying competitive. Investors should consider the taxation pattern, distilling communities, and technological environment when evaluating investment opportunities. Factors like carbon content, packaging, and alcohol-led tourism also play a role in the market's growth. Smart buyers should keep an eye on demographic growth, high disposable income, and prosperous economies. Brands with favorable attitudes and acceptance, like Slainte Irish Whiskey and Writers Tears, offer potential for long-term investment. In conclusion, the Irish whiskey market's growth strategies, financial position, and trends present numerous investment opportunities for those willing to navigate the complexities of the spirits industry.
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