Latest News - Japanese Whiskey Market: Commercial is expected to lead the End-user segment during 2024-2028

The Japanese Whiskey Market is being driven by Increasing use of online sales channels for selling alcohol

The Japanese Whiskey Market is expected to grow at a CAGR of 11.8% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 874.5 million. The Japanese whiskey market is experiencing significant growth due to increasing demand from emerging economies seeking to expand their whiskey palates, as well as health-conscious consumers preferring lower alcohol and organic whisky options. This global trend towards healthier living has led to a surge in demand for organic whisky from Europe and other regions. For instance, Bainbridge Organic Distillers, a leading player in the industry, produces artisanal spirits using USDA-certified organic grains, meticulously cultivated for their distillery. Their commitment to quality, from grain to glass, ensures the superiority of their products. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• End-user
  • Commercial
  • Residential
• Distribution Channel
  • On-trade
  • Off-trade
• Geography
  • APAC
    • Australia
    • Japan
    • Taiwan
  • North America
    • US
  • Europe
    • UK
  • South America
  • Middle East and Africa

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Increasing use of online sales channels for selling alcohol
• Increasing demand for premium whiskey
• Evolving whiskey preferences

However, the market also witnesses some limitations, which are as follows:

• Growing health awareness among consumers
• Rise in counterfeit Japanese whiskey
• Growing competition from other alcoholic beverages

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Market Scope in Japanese Whiskey Market Research Report

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Research Analysis Overview

The Japanese whiskey market has experienced exponential growth in recent years, making it a significant contributor to the country's economy with a market size of over USD3 billion, representing around 0.1% of the country's GDP. This industry's growth can be observed at both the country and regional levels, with Hokkaido and Chugoku being major production hubs. Qualitative data suggests that the increasing popularity of Japanese whiskey is driven by its unique taste profile and cultural significance. Quantitative data indicates a shift towards online sales, with revenue from online retail channels growing at a CAGR of 12% from 2016 to 2021. Offline sales applications, such as retail shops and off-trade distribution, still dominate the market, but the on-trade segment, including pubs, bars, and Happy Hours, is also a key growth area. Product pricing remains a critical factor in commercial development, with cost being a significant concern for both producers and consumers. Opportunities for growth lie in the residential sector, as well as in mixology and cocktail culture, which are gaining popularity both domestically and internationally. Social media plays a crucial role in marketing and promotion, with many brands leveraging platforms like Instagram and Facebook to reach new audiences.

Market Research Overview

The Japanese whisky market is a significant segment of the global brewers market, which encompasses producers of beer, craft beer, and malt liquors, as part of the larger food and beverages industry. According to Technavio, demographic shifts and evolving consumer preferences, particularly among young adults, are key growth drivers for the global brewers market. In 2021, the global average alcohol consumption, including beer, was approximately 2.35 gallons per capita. This trend is primarily driven by the increasing independence and changing outlooks of young adults, making them a significant consumer demographic for beer and other alcoholic beverages. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/