Whiskey Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

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 (North America, Europe, Asia-Pacific, South America, and Middle-East and Africa).

Market Snapshot

Whiskey Market Overview
Study Period: 2016 - 2026
Base Year: 2020
Fastest Growing Market: Asia Pacific
Largest Market: Europe
CAGR: 5.51 %
Whiskey Market Major Players

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Market Overview

The whiskey market is projected to register a CAGR of 5.51% during the forecast period (2021-2026).

The market studied has considerably been impacted during the COVID-19 impact due to the closure of various hotels, restaurants, and alcohol shops across the world, which limited the sales of whiskey. Moreover, decreasing tourism in all parts of the world had also affected the sales of whiskey in the global market, as low footfall of tourists decreased the consumption of whiskey and other alcoholic beverages.

Consumers nowadays all over the world have more sophisticated palates than compared to the previous year ago. They are constantly looking to explore unique, high-quality alcoholic beverages such as whiskey, wine, and others. The inclusion of natural ingredients in alcoholic beverages improves their functionality, and such products are gathering a lot of attention from consumers.​ Therefore, factors such as these are driving the global whiskey market.

Furthermore, there is a rise in demand for whiskey from the developing countries of Asia-Pacific, especially India and China. According to British beverage company Diageo PLC, more than 100 whisky bars opened in China in 2016 and, in the first half of 2017, Scotch exports to China increased by 45% year-on-year to reach 27 million pounds.

However, stringent government trade regulations are expected to hinder the growth of the market studied during the forecast period. For instance, in 2018, the US government imposed a 25% import tariff on EU agricultural goods, which impacted liqueurs, like single malt Scotch and single malt Irish whiskey. The imposed tariff will make Scotch whisky more expensive for Americans, thereby hampering the growth of the market studied.

Scope of the Report

Whiskey is a distilled alcoholic beverage made from fermented barley, corn, rye, or wheat mash or by distilling beer. The whiskey market is segmented by product type, distribution channel, and geography. Based on product type, the market studied 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 studied is segmented into North America, Europe, Asia-Pacific, South America, and Middle-East and Africa. For each segment, the market sizing and forecasts have been done on the basis of value (in USD million).

By Product Type
American Whisky
Irish Whisky
Scotch Whisky
Canadian Whisky
Other Product Types
By Distribution Channel
On-trade
Off-trade
By 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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Key Market Trends

Growing Preference for Organic Whiskey

Demand for variety in scotch whiskey from fast-growing 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 across the world, people prefer these varieties of whiskeys. The value of organic alcoholic beverages exported from Denmark increased to 129.60% from the year 2013 to 2017 (Statistics Denmark). This has driven the increase in preference for organic whiskeys of Denmark and other countries from the rest of the world. Companies, such as Bainbridge Organic Distillers, have developed artisan-distilled spirits that are made from the USDA-certified organic wheat, barley, triticale, and corn, grown especially for their distillery, and the quality of each of their products is a direct reflection of the superiority of their grains.

Whiskey Market Key Trends

United States Holds the Major Share of the Whiskey Market

The US whiskey market is driven by premiumization trends and emerging consumer trends toward brands with innovation and a diversification of their product ranges. Therefore, reflecting on the American population’s increased interest in premium products, over the past five years, high-end premium and super-premium brands drove the growth. Owing to this factor, the high-end premium revenues were up by 37% and super-premium by 136% (as per reports published by Distilled Spirits Council)​, thus, driving the whiskey market forward.​

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 augment the demand for whiskey further in the United States over the forecast period. ​​

Whiskey Market Growth Rate By Region

Competitive Landscape

The whiskey market is witnessing high competition owing to the diversified product portfolio of key players and growing investment in the strategic expansion, which is 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, as well as 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.

Recent Developments

  • In July 2020, Diageo PLC decided to launch Johnnie Walker whisky in paper bottles in 2021. The company had also decided to sell its product in plastic-free bottles by emphasizing the environment, and it will now go on to use wood-pulp material.
  • In January 2017, Diageo launched a new premium Blended Irish Whiskey, Roe & Co. The launch was created to reflect modern, contemporary luxury in everything from the pack to liquid.
  • In December 2019, the spirits company Beam Suntory, a part of Japan’s Suntory Holdings Ltd, launched an India-specific whisky, Oaksmith, created by Shinji Fukuyo, chief blender of Suntory using traditional Japanese craftsmanship.

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 By 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 By Distribution Channel

      1. 5.2.1 On-trade

      2. 5.2.2 Off-trade

    3. 5.3 By 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 Active Companies

    2. 6.2 Most Adopted Strategies

    3. 6.3 Market Share Analysis

    4. 6.4 Company Profiles

      1. 6.4.1 Diageo PLC

      2. 6.4.2 William Grant & Sons Ltd

      3. 6.4.3 Pernod Ricard SA

      4. 6.4.4 Suntory Beverage & Food Ltd

      5. 6.4.5 The Brown Forman Corporation

      6. 6.4.6 The Edrington Group

      7. 6.4.7 Bacardi Limited

      8. 6.4.8 Asahi Group Holdings Ltd

      9. 6.4.9 Whyte & Mackay

      10. 6.4.10 Kirin Holdings Company Limited (Fuji Gotemba)

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

  8. 8. IMPACT OF COVID-19 ON THE MARKET

**Subject to Availability

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Frequently Asked Questions

The Whiskey Market market is studied from 2016 - 2026.

The Whiskey Market is growing at a CAGR of 5.51% over the next 5 years.

Asia Pacific is growing at the highest CAGR over 2021- 2026.

Europe holds highest share in 2020.

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

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