Whiskey Market - Growth, Trends, and Forecasts (2023 - 2028)

The whiskey Market is segmented by Product Type (American Whisky, Irish Whisky, Scotch Whisky, Canadian Whisky, and Other Product Types), Distribution Channels (On-trade and Off-trade), and Geography. Based on Geography, the market studied 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). The report offers market size and values in (USD million) during the forecast period for the above segments.

Whiskey Industry Overview

Whiskey Market Summary
Study Period: 2018 - 2028
Fastest Growing Market: Asia Pacific
Largest Market: North America
CAGR: 5.6 %

Major Players

Whiskey Market Major Players

*Disclaimer: Major Players sorted in no particular order

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Whiskey Market Analysis

The global whiskey market is projected to register a CAGR of 5.6% over the next five years.

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 Industry Segments

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
Europe
Spain
United Kingdom
Germany
France
Italy
Russia
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
Rest of Asia-Pacific
South America
Brazil
Argentina
Rest of South America
Middle East and Africa
South Africa
Saudi Arabia
Rest of Middle East and Africa

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Whiskey Market Trends

This section covers the major market trends shaping the Whiskey Market according to our research experts:

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.

Whiskey Market: Top Whiskey Brands, in Millions of 9 Liter Cases, Worldwide, 2021

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 Market: Market Size (%), By Geography, Global 2021

Whiskey Market Competitor Analysis

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 Top Players

  1. Asahi Group Holdings, Ltd

  2. Diageo PLC

  3. Bacardi Ltd

  4. Pernod Ricard S.A.

  5. Suntory Holdings Limited

*Disclaimer: Major Players sorted in no particular order

Whiskey Market Concentration

Whiskey Market Recent Developments

  • 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. 1. INTRODUCTION

    1. 1.1 Study Assumptions and Market Definition

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Drivers

    2. 4.2 Market Restraints

    3. 4.3 Porter's Five Forces Analysis

      1. 4.3.1 Threat of New Entrants

      2. 4.3.2 Bargaining Power of Buyers/Consumers

      3. 4.3.3 Bargaining Power of Suppliers

      4. 4.3.4 Threat of Substitute Products

      5. 4.3.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 Product Type

      1. 5.1.1 American Whisky

      2. 5.1.2 Irish Whisky

      3. 5.1.3 Scotch Whisky

      4. 5.1.4 Canadian Whisky

      5. 5.1.5 Other Product Types

    2. 5.2 Distribution Channel

      1. 5.2.1 On-trade

      2. 5.2.2 Off-trade

    3. 5.3 Geography

      1. 5.3.1 North America

        1. 5.3.1.1 United States

        2. 5.3.1.2 Canada

        3. 5.3.1.3 Mexico

        4. 5.3.1.4 Rest of North America

      2. 5.3.2 Europe

        1. 5.3.2.1 Spain

        2. 5.3.2.2 United Kingdom

        3. 5.3.2.3 Germany

        4. 5.3.2.4 France

        5. 5.3.2.5 Italy

        6. 5.3.2.6 Russia

        7. 5.3.2.7 Rest of Europe

      3. 5.3.3 Asia-Pacific

        1. 5.3.3.1 China

        2. 5.3.3.2 Japan

        3. 5.3.3.3 India

        4. 5.3.3.4 Australia

        5. 5.3.3.5 Rest of Asia-Pacific

      4. 5.3.4 South America

        1. 5.3.4.1 Brazil

        2. 5.3.4.2 Argentina

        3. 5.3.4.3 Rest of South America

      5. 5.3.5 Middle East and Africa

        1. 5.3.5.1 South Africa

        2. 5.3.5.2 Saudi Arabia

        3. 5.3.5.3 Rest of Middle East and Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Most Adopted Strategies

    2. 6.2 Market Share Analysis

    3. 6.3 Company Profiles

      1. 6.3.1 Diageo PLC

      2. 6.3.2 William Grant & Sons Ltd

      3. 6.3.3 Pernod Ricard SA

      4. 6.3.4 Suntory Beverage & Food Ltd

      5. 6.3.5 The Brown Forman Corporation

      6. 6.3.6 The Edrington Group

      7. 6.3.7 Bacardi Limited

      8. 6.3.8 Asahi Group Holdings Ltd

      9. 6.3.9 Whyte & Mackay

      10. 6.3.10 Kirin Holdings Company Limited (Fuji Gotemba)

    4. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

  8. 8. DISCLAIMER

**Subject to Availability
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Whiskey Market Research FAQs

The Whiskey Market is studied from 2018 - 2028.

The Whiskey Market is growing at a CAGR of 5.6% over the next 5 years.

Asia Pacific is growing at the highest CAGR over 2018 - 2028.

North America holds highest share in 2021.

Asahi Group Holdings, Ltd, Diageo PLC, Bacardi Ltd, Pernod Ricard S.A., Suntory Holdings Limited are the major companies operating in Whiskey Market.

Whiskey Industry Reports

In-depth industry statistics and market share insights of the Whiskey sector for 2020, 2021, and 2022. The Whiskey research report provides a comprehensive outlook of the market size and an industry growth forecast for 2023 to 2028. Available to download is a free sample file of the Whiskey report PDF.

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