Latest News- Whiskey Market: Off trade is expected to lead the Distribution Channel segment during 2024-2028

The Whiskey Market is being driven by Increasing demand for premium whiskey

The Whiskey Market is expected to grow at a CAGR of 6.25% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 37536.1 million. The global whiskey market is experiencing significant growth, with Irish whiskey leading the charge as the fastest-growing spirit category. In 2020, Irish whiskey held a modest market share, but its demand is surging, driven by its sweet and smooth taste, competitive pricing, and increasing popularity among new and female consumers. Major whiskey brands are also investing heavily in the category, further fueling its growth. The increasing preference for Irish whiskey and American bourbon is anticipated to boost the global whiskey market during the forecast period. 

Get more information on Whiskey Market by requesting a sample report

Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Distribution Channel
  • Off trade
  • On trade
• Product
  • Scotch whiskey
  • American whiskey
  • Canadian whiskey
  • Irish whiskey
  • Others
• Geography
  • APAC
    • China
    • India
  • North America
    • Canada
    • US
  • Europe
    • France
  • 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 demand for premium whiskey
• Emerging online distribution platform
• Growing demand for premium single-malt whiskey

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

• Increasing competition from other alcoholic beverages
• Increasing campaigns against alcohol consumption
• Stringent government regulations and guidelines

Benefits of Buying Global Whiskey Market Research Report by Technavio

Rich Experience: 20+ years leading global market research, trusted insights across industries.

Unlock Business Potential with Technavio: Maximize ROI with Technavio's tailored market research: deep dives and actionable insights.

Your Guide to Market Success: Empower your business with Technavio's market research and future-proof your decisions.

Market Scope in Whiskey Market Research Report

Request Free Sample

Find out which segment is leading the market by accessing the free PDF report

Research Analysis Overview

The Whiskey Market encompasses various types, including Single Barrel, Grain Whiskey, Blended Whiskey, Wheat Whiskey, and Corn Whiskey. Peated Malt, Sherry Finish, and Port Finish whiskeys add unique flavors. Matured in Oak Barrels, Ex-Bourbon Barrels, and barrels of different fills, Whiskey comes in Matured and Young forms. Bottling Strength, Non-Chill Filtered, and various price points cater to Value for Money, High-End, and Ultra-Premium consumers. Whiskey Tasting, Pairing, Education Programs, Masterclasses, Tours, History, Culture, and Region explorations engage Whiskey Enthusiasts and Collectors. The Distilling Process, from Water Source to Yeast Strain, Mash Bill, Copper Still, Pot Still, and Column Still, shapes the final product. Cask Selection, Whisky Bottling, Brand Identity, Loyalty, and Collectors add to the Whiskey Experience.

Market Research Overview

In the whiskey market, the production process involves various inputs, including primary raw materials, secondary sources, and additional ingredients, labor, and distillery equipment. The fundamental raw materials for whiskey production consist of carbohydrate-rich grains, such as barley and corn, water, and yeast. Secondary sources and extra ingredients, like oak barrels for cask finish or barrel proof processes, contribute to the unique flavor profiles of Single Malt Irish, Japanese, Canadian, and Tennessee Whiskeys. These distilled spirits may also incorporate secondary ingredients, such as juniper berries or other fruits, herbs, spices, seeds, roots, barks, and flowers, to create distinct flavors and aromas.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/