Report Ocean has recently published the “Whiskey Market “ Research Report 2023-2031, offering a comprehensive analysis of the market. This report delves deep into the market dynamics, including key trends, upcoming technologies, drivers, challenges, and regulatory policies. It also features company profiles and strategies of prominent players in the industry. With over 100+ market data tables, pie charts, graphs, and figures, this global market study provides a thorough understanding of the market landscape. It presents a complete assessment, encompassing future trends, current growth factors, informed opinions, factual insights, and industry-validated market data, enabling accurate forecasts until 2031.
The global whiskey market was valued at $59,631.2 million in 2019, and is projected to reach $86,389.5 million by 2027, registering a CAGR of 4.9% from 2020 to 2027. Whiskey refers to a type of distilled alcoholic beverage made from distinctive varieties of grain including, wheat, barely, corn, rye and others. It is typically aged in wooden casks that are made from charred white oak. Changing consumer tastes and resurgence of the cocktail trend is one of the major factors that drives the market globally. In addition, whiskey manufacturers are investing in R&D to promote product innovation and sustainability, in order to enhance characteristics, taste, and meet the changing preferences of their consumers.
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Young consumers are more inclined toward well-crafted, flavored spirits that are artisanally
produced and have an authentic, heritage-rich brand story. For this reason, whiskey particularly has become one of the fastest selling products among other alcoholic beverages. Bartenders are increasingly using top-tier whiskey brands as an ingredient in cocktails.
Hence, the “cocktail culture” trend has become one the driving factors for the whiskey market. Furthermore, the rise in spirit-led tourism, especially in the western countries, has propelled tourists from overseas to indulge and develop taste for local beverages, including whiskeys. Countries such as the UK, France, the U.S., Scotland and others, have developed spirit led-tourism, which enables tourists to comprehend the history and distillation processes involved in producing whiskeys. This factor is expected to drive the whiskey market globally.
In the recent past, the number of bars, pubs, breweries and restaurants serving alcohol has increased manifold. The major factors driving this growth are rise in consumer spending, rapid urbanization, product innovation and rising demand from millennial population. The acceptance of alcoholic beverages, for social events including marriages, events, award functions, and several similar social gatherings has generated a positive growth prospect for the whiskey market.
The whisky market has developed at a fast pace in the recent years, and more people than ever now consider whisky an affordable luxury. The increase in acceptance also led to growth in demand for different whisky such as premium and organic whisky. The general shift in consumer consciousness and demand for innovative products, has led to an increased desire for whiskey distilled with organic malted barley and grains. This consumer demand can be regarded as an opportunity by whiskey manufactures to broaden the market base.
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KEY BENEFITS FOR STAKEHOLDERS
– The report provides a quantitative analysis of the current whiskey market trends, estimations, and dynamics of the market size from 2020 to 2027 to identify the prevailing opportunities.
– Porter;s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier-buyer network.
– In-depth analysis and the market size and segmentation assists in determining the prevailing whiskey market opportunities.
– The major countries in each region are mapped according to their revenue contribution to the market.
– The market player positioning segment facilitates benchmarking and provides a clear understanding of the present position of the market players in the whiskey industry.
The key players operatingin the whiskey market include Diageo plc., Pernod Ricard, William Grant & Sons Ltd, Bacardi Limited, Beam Suntory, Inc., The Brown-Forman Corporation, Constellation Brands, Inc., Asahi Group Holdings, Ltd., La Martiniquaise and Loch Lomond Distillers Ltd.
KEY MARKET SEGMENTS
– By Product Type
o Irish Whiskey
o Scotch Whiskey
o Japanese Whiskey
o American Whiskey
o Canadian Whiskey
– By Distribution Channel
o On-Trade
o Off-Trade
– By Region
o North America
? U.S.
? Canada
? Mexico
o Europe
? Germany
? France
? UK
? Italy
? Spain
? Rest of Europe
o Asia-Pacific
? India
? China
? Japan
? Australia
? New Zealand
? Rest of Asia-Pacific
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o LAMEA
? Latin America
? Middle East
? Africa
Table of Contents:
- Introduction and Scope
- Definition and Forecast Parameters
- Methodology and Forecast Parameters
- Information Sources
- Latest Trends Summary
- Regional Trends
- Product Trends
- End-Use Trends
- Business Trends
- Industry Insights
- Industry Fragmentation
- Industry Landscape
- Vendor Matrix
- Technological and Innovative Landscape
- Market by Region
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East and Africa
- Company Profiles
- Company Overview
- Financial Elements
- Product Landscape
- SWOT Analysis
- Systematic Outlook
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Key Questions Market Research and Analysis Report
- What is the current market size, both in terms of value and volume?
- What is the historical growth rate of the market, and what are the projected growth rates for the future?
- Who are the major players in the market, and what is their market share?
- What are the market trends and dynamics influencing the industry?
- What are the key drivers of market growth?
- What are the challenges and barriers faced by market participants?
- What are the emerging opportunities in the market?
- What is the competitive landscape of the market?
- What are the consumer preferences, behaviors, and buying patterns within the market?
- What is the market segmentation, and how are different market segments performing?
- What are the pricing trends and strategies in the market?
- What are the distribution channels and their effectiveness in reaching the target audience?
- What are the regulatory and legal factors impacting the market?
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