The history of whiskey dates back centuries and is intertwined with the development of distillation techniques and the production of alcoholic beverages. The origins of distillation can be traced back to ancient civilizations such as the Babylonians, Egyptians, and Greeks. These civilizations used distillation techniques to produce various spirits and perfumes. The production of whiskey began in Ireland and Scotland in the late 15th century. Initially, whiskey was produced for medicinal purposes and as a form of currency. Irish whiskey gained popularity, and by the 18th century, it was being produced on a larger scale. The Scottish climate and availability of local resources like peat influenced the distinct flavor profile of Scotch whisky. The production of bourbon, a type of American whiskey primarily made from corn, gained popularity in Kentucky and other regions. Whiskey production has expanded to countries like Canada, Japan, India, and Australia, each with their own unique production methods and styles. Craft distilleries have gained prominence, and consumers are increasingly exploring different types of whiskey and flavor profiles. According to the research report "Global Whiskey Market Research Report, 2028," published by Actual Market Research, the market is anticipated to cross USD 127 billion in size, increasing from USD 88.85 billion in 2022. The market is expected to grow at a 6.34% CAGR by 2023–28. The Asia-Pacific region leads the global whiskey market due to rising affluence and changing consumer preferences, a shift in consumer demands towards premium whiskey, influences from western culture, trade liberalization, and relaxation of import tariffs. Additionally, some countries, like Japan and Taiwan, have developed their own thriving whiskey industries. Japanese whiskey, in particular, has gained international recognition. Local production and innovation have contributed to the growth of the whiskey market in the region and have generated interest both domestically and globally.
Asia-Pacific dominates the market and is the largest and fastest-growing market in the animal growth promoters industry globally
Download SampleMalt whisky, also known as barley whisky, is a type of whisky that is primarily made from malted barley and is the most consumed type, with over 60% of the revenue share. Malt whisky is known for its diverse range of flavors based on the type of barley, the malting process, fermentation, distillation, and maturation techniques. Malt whiskies often exhibit characteristics such as fruity, floral, malty, and sometimes smoky or peaty flavors. The influence of the casks during maturation also contributes to the final flavor profile. Malt whisky can be further classified into two main categories: single malt and blended malt. Single malt whisky is made solely from malted barley in a single distillery and is typically known for its specific regional characteristics. Blended malt whisky, on the other hand, is a blend of single malt whiskies sourced from multiple distilleries. Scotland is particularly renowned for its production of malt whisky from Speyside, Islay, and Highland. Scotch malt whisky has strict regulations governing its production, including requirements for aging in oak casks for a minimum period. Blended whiskey is another highly demanded type of whiskey with substantial revenue shares. Scotch whisky is indeed in high demand worldwide and is considered one of the most sought-after whiskeys. It has earned a global reputation for its quality, craftsmanship, and rich heritage, which are associated with tradition, expertise, and a long history of whisky production in Scotland. Scotch whisky production follows a long-standing tradition and strict regulations set by the Scotch Whisky Association (SWA). These regulations define the criteria for labeling whisky as "Scotch," ensuring authenticity and maintaining the quality standards that consumers expect. The adherence to tradition and quality has contributed to the enduring popularity of Scotch whisky. Scotch whisky offers a range of premium and collectible expressions that are highly sought-after by enthusiasts and collectors alike. Limited editions, special releases, and aged expressions from established distilleries are often in high demand, leading to a vibrant secondary market for Scotch whisky. Japanese whisky has experienced a surge in popularity in recent years and has gained worldwide recognition for its exceptional quality and craftsmanship. The roots of Japanese whisky can be traced back to the 1920s. Japanese whisky production typically follows the same principles as Scotch whisky. It often exhibits delicate and nuanced flavors, with characteristics ranging from fruity and floral to rich and complex. The attention given to blending and the use of different cask type during the maturation process contributes to the distinct flavor profiles. One unique aspect of Japanese whisky is the use of Mizunara oak casks for maturation. Irish whiskey, introduced by Irish monks during the Middle Ages, unlike other types of whiskey, undergoes additional distillation, resulting in a smoother and lighter spirit. Irish whiskey comes in different styles; including single malt, single grain, blended, and pot still whiskey. The triple distillation process contributes to its smoothness and mellow flavors, fostering the future growth of Irish whiskey at a CAGR of 8.64%.
The super-premium range of whiskey globally consists of high-end and luxury whiskies that are known for their exceptional quality, craftsmanship, and limited availability. These whiskies are sought after by collectors, connoisseurs, and those who appreciate the finest expressions of the spirit. The Macallan M, Glenfiddich Rare Collection, The Dalmore Constellation Collection, Pappy Van Winkle's Family Reserve, and Yamazaki Sherry Cask are some of the super-premium whiskeys from around the world. Some super-premium whiskies can be aged for 18 years, 21 years, 25 years, or even longer. In this category, Scotch whisky is aged for 25 years or more, and bourbon whiskey is aged for 15 years or longer. These whiskies combine exceptional aging with other factors such as rarity, unique cask finishes, or special production techniques, which contribute to their premium status and higher price range. The premium whiskey market has seen a rise in craft and small-batch distilleries, with nearly 20% of revenues earned in 2022. Premium whiskey brands are increasingly focusing on innovation and experimentation to cater to evolving consumer preferences. This includes exploring different cask finishes, unique grain varieties, innovative maturation techniques, and experimenting with flavor profiles to offer distinct and engaging whiskies. Countries like Japan, Taiwan, India, and Australia have emerged as key players in the premium whiskey market, offering their own unique expressions and flavors. Jameson, Maker's Mark, Redbreast, Balvenie, Hibiki, Highland Park, and Woodford Reserve are some of the most popular premium whiskies globally. Flavored whiskey has gained popularity in recent years, while traditional non-flavored whiskey still dominates the market. Whiskey enthusiasts often appreciate the authentic flavors and craftsmanship found in non-flavored expressions. It can be enjoyed neat, on the rocks, or as a base spirit in a wide range of classic and contemporary cocktails. The versatility of non-flavored whiskey makes it appealing to a broader consumer base. However, it's important to note that flavored whiskey has also gained popularity among younger consumer segments. The demand for flavored whiskey has led to the introduction of various flavors such as honey, apple, cinnamon, and more.
Whiskey is primarily sold through off-trade distribution channels like supermarkets, hypermarkets, and liquor stores, accounting for 87.52% of the market. These retail channels are widely accessible and offer a diverse selection of whiskey brands and expressions to consumers. Specialized liquor stores, also known as liquor shops or bottle shops, typically have a more extensive selection of whiskey brands and expressions compared to supermarkets or hypermarkets. While supermarkets, hypermarkets, and liquor stores are the primary channels for whiskey sales, it's worth mentioning that some premium and limited-edition whiskies may be available exclusively through specialty whiskey retailers, whiskey auctions, or directly from distilleries. These channels cater to whiskey enthusiasts and collectors looking for unique or rare expressions. With the rise of e-commerce, online retailers have become increasingly popular for purchasing whiskey. Duty-free shops located in airports, seaports, and border crossings are another significant distribution channel for whiskey. These shops cater to travellers and offer a wide range of premium and luxury whiskey brands at tax-free prices. The on-trade distribution channels include bars, restaurants, hotels, clubs, and other hospitality venues. Whiskey bars, in particular, specialize in offering an extensive selection of whiskies from around the world, providing customers with a wide range of choices and the opportunity to explore different styles and flavors. Many restaurants feature whiskey on their beverage menus, either as standalone drinks or as part of cocktail offerings. Hotels and resorts often have bars and lounges where guests can enjoy a variety of beverages. Whiskey can also be found in event venues such as convention centres, concert halls, and sports arenas. Whiskey aged for 12 to 18 years is often in high demand as it has had a significant amount of time to mature and acquire a well-balanced flavor profile, often characterized by rich notes of oak, caramel, and vanilla. As whiskey ages, it becomes smoother on the palate with a more refined and integrated flavor profile. Limited availability and the time-consuming nature of aging contribute to the perceived rarity and desirability of these expressions. The Macallan 12 Year Old Sherry Oak, The Macallan 15 Year Old Triple Cask, The Macallan 18 Year Old Sherry Oak, Glenfiddich whiskey with 12, 15, and 18 years of age, The Balvenie Double Wood 12 Year Old, The Balvenie Caribbean Cask 14 Year Old, The Balvenie Double Wood 17 Year Old, Highland Park in 12, 15, and 18 years, Talisker 18 Year Old, Jameson 12 Year Old, and Jameson 18 Year Old are some of the popular whiskies in this type. India has a massive domestic market for whiskey due to its large population and cultural preferences. The global whiskey market is led by India with one-fourth of the global share and is expected to continue its growth. In India, whiskey is the most popular alcoholic beverage, and local brands dominate the market. Indian whiskey, often referred to as "Indian-made foreign liquor" (IMFL), is typically made from molasses and blended with neutral spirits and flavorings. However, when it comes to global whiskey production and exports, countries like Scotland, the United States, Ireland, and Canada are more prominent. Amrut, Paul John, Royal Challenge, Blenders Pride, Officer's Choice, Signature, McDowell's No. 1, and Bagpiper are popular Indian whiskey brands, and there are many more regional and local brands that cater to specific markets within India. Maharashtra, Karnataka, Goa, Punjab, and Tamil Nadu are some of the major whiskey production areas in India. In North America, the United States is known for its production of bourbon and other American whiskeys like Tennessee and rye. In recent years, many small-scale distilleries have emerged, producing unique and artisanal whiskies. Bourbon whiskeys like Makers Mark, Jim Beam, Wild Turkey, Woodford Reserve, Buffalo Trace, Four Roses, and Knob Creek are the most exported types from North America. Europe has a diverse range of alcoholic beverages deeply rooted in its cultural heritage. Countries like France, Italy, and Spain have strong traditions in wine production, while others, like Germany and the Czech Republic, have a historical preference for beer. These cultural preferences and long-established traditions influence overall consumption patterns and can impact the demand for whiskey. Each European country has its own regulatory framework for alcohol, which can affect the availability, distribution, and marketing of whiskey. Latin America and the Middle East and Africa have cultural and historical ties to other traditional alcoholic beverages that are more commonly consumed in these regions. For example, in Latin America, spirits such as rum, tequila, and cachaça are more prevalent due to their cultural significance and local production. Similarly, in the Middle East and Africa, drinks like arak, ouzo, and local spirits have a stronger cultural presence. The Middle East, in particular, has religious and cultural norms that discourage or restrict the consumption of alcohol. Economic factors such as income levels, affordability, and pricing play a role in the demand for whiskey. Additionally, limited distribution networks and lower marketing efforts by whiskey producers resemble lower revenues from these regions. Recent Developments: • Diageo has introduced a new artificial intelligence-based whisky selector that assists customers in picking single malt scotch whiskeys based on their preferences. • Aston Martin Lagonda has made Bowmore Islay Single Malt Scotch Whisky its exclusive spirits partner. • Whyte & Mackay has introduced its whiskey in a new bottle with triple matured and smooth, in a rich mahogany gold with a glittering amber color. • Bacardi has extended its brands with the introduction of Dewar’s, King Edward, Royal Brackla, William Lawson’s, MacDuff, Glen Deveron, Craigellachie, and Alutmore. The company has also added a bottle library, Wikipedia, to make its end users about the procedures. • William Grant & Sons has extended its manufacturing facilities to Scotland, Ireland, Iceland, India, the United States, and Mexico. Also, launched their travel retail exclusive range of whiskies under its Glenfiddich whisky brand. • Chivas Brothers have extended its brand chain with Ballantine's, Royal Salute, and The Glenlivet.. • In July 2021, Diageo Plc, announced that Johnnie Walker whiskey now would be available in paper bottles. • In November 2021, Pernod Ricard, unveils about it’s the Chuan Malt Whiskey Distillery, in China. • Glenfiddich has switched to renewable biogas delivery fleet created from whiskey leftovers in 2021. • Beam Suntory launched its first Indian Whiskey outside of India in 2021, with 5 premium spirits reaching US$ 1 Billion by 2030. Considered in this report • Geography: Global • Historic year: 2017 • Base year: 2022 • Estimated year: 2023 • Forecast year: 2028 Regions & Countries covered in the report: • North America (United States, Canada, Mexico) • Europe (Germany, United Kingdom, France, Spain, Italy, Russia) • Asia-Pacific (China, Japan, India, Australia, South Korea) • South America (Brazil, Argentina, Colombia) • Middle-East & Africa (UAE, Saudi Arabia, South Africa) Aspects covered in this report • Global Whiskey market with its value and forecast along with its segments • Region & Country-wise Whiskey market analysis • Various drivers and challenges • On-going trends and developments • Top profiled companies • Strategic recommendation By Grain Type • Malt/ Barley Whisky • Wheat Whisky • Rye Whisky • Corn Whisky • Blended Whisky • Others By Type • Scotch Whiskey • American Whiskey • Irish Whiskey • Canadian Whiskey • Japanese Whiskey • Others By Quality • Premium • High-End Premium • Super Premium By Beverage Type • Alcoholic • Non-Alcoholic By Flavor Type • Non-Flavored • Flavored By Distribution Channel • Off Trade (Liquor stores, Supermarket/Hypermarket, Online Stores, Others) • On Trade (Hotels, Restaurants & Bars, Others) By Age of Whiskey • Below 12 Years • 12 to 18 Years • Above 18 Years The approach of the report: This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and listing out the companies that are present in the market. The secondary research consists of third party sources such as press releases, annual report of companies, analyzing the government generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducted trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers in regional aspects, tier aspects, age group, and gender. Once we have primary data with us we have started verifying the details obtained from secondary sources. Intended audience This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to Whiskey industry, government bodies and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.
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