Global Whiskey Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2027

Global Whiskey Market Overview

"The global Whiskey Market size is expected to be worth around US$ 47137 million by 2031 from US$ 21862 million in 2022, growing at a CAGR of 8.64% during the forecast period 2022 to 2031."

This report is based on the synthesis, analysis, and interpretation of information gathered regarding the target market from various sources. Our analysts have analyzed the information and data and gained insights using a mix of primary and secondary research efforts with the primary objective to provide a holistic view of the global market.

In addition, an in-house study has been made of the global economic conditions and other economic indicators and factors to assess their respective impact on the global whiskey market historically, as well as the current impact in order to make informed forecasts about the scenarios in future.

A whiskey is a distillery spirit produced from a mash of fermented grains that utilizes various non-malted or malted grains. There are various types of grains used in whiskey production, among those corn is the most commonly used grain. Similarly, Scotch whiskey is produced from malted barley, water, and yeast.

Dynamics:

Increasing demand for whiskey among the young population across the globe is a key factor expected to drive the growth of the global whiskey market during the forecast period, owing to the increasing use of whiskey with a combination of other alcoholic beverages for attractive taste buds.

In addition, the rising consumption of whiskey among individuals across the globe is expected to proliferate growth of the global whiskey market, owing to the attractive taste of whiskey, changing lifestyles, and increasing disposable income.

Furthermore, increasing awareness about health benefits of whiskey among individuals is expected to proliferate growth of the global whiskey market, owing to various benefits offered by whiskey when it consumed in a standard/precise amount such as, weight loss, stress reduction, controls diabetes, decreases risk of ischemic stroke, improves cholesterol levels, prevents heart disease, reduces risk of cancer, increases longevity, and boost immune system and memory.

Furthermore, increasing awareness and preference for organic whiskey among consumers is expected to generate significant opportunities to market players for product innovation and development. This in turn expected to support growth of the target market in the near future.

However, high tax and increasing regulations associated with alcohol consumption across the globe is a major factor expected to restraint growth of the global whiskey market. In addition, wide availability of substitute products such as wine and beer across the globe is another factor may hamper growth of the target market to a certain extent.

Regional Analysis:

Market in Asia Pacific is expected to dominate the global market in terms of revenue, owing to high consumption whiskey and large consumer base in countries such as India, China and Japan. In addition, Europe is the largest producer of whiskey in the global market, owing to presence of leading whiskey manufacturers and availability of raw material in countries in the region.

Market in North America is expected to witness high growth followed market in Europe and Middle East and Africa in the global market in terms of revenue, owing to increasing per capita consumption of whisky in countries in the regions. In addition, product innovations such as, development of unique taste and various flavors of whiskey is expected to contribute significantly in the growth of target market in these regions.

Global Whiskey Market Segmentation:

Global Whiskey Market Segmentation, by material:

• Rye
• Corn
• Crude
• Malt
• Wheat
• Blended Whiskey

Global Whiskey Market Segmentation, by quality:

• Premium
• Super Premium
• High-End Premium

Global Whiskey Market Segmentation, by product type:

• Rye
• Irish
• Scotch
• Bourbon
• Tennessee
• Japanese
• Others (Danish, Finnish, Indian, and Welsh)

Global Whiskey Market Segmentation, by Region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa