Global Whiskey Market to Grow at a CAGR of 4.2% During 2024-2032, Aided by the Increased Consumption of Alcoholic Beverages

Whiskey, a distilled alcoholic beverage derived from fermented grain mash, including malted barley, rye, wheat, or corn, is widely enjoyed as a rejuvenating and recreational drink. The production of high-quality whiskey involves essential steps such as mashing, fermenting, blending, and bottling, with distillation playing a pivotal role in elevating its alcoholic content. Aged in charred white oak barrels, whiskey undergoes a maturation process that enhances its overall quality. The whiskey market growth can be attributed to increasing demand for and consumption of alcoholic beverages and rising consumer disposable incomes, particularly in emerging nations.

Moderate whiskey consumption is linked to potential health benefits such as stroke prevention, improved metabolism, and heart function. By product type, Scotch whiskey holds the largest market share, with premium whiskey being the most preferred quality. The Asia Pacific leads the global market, driven by rising living standards and growing demand for premium beverages in countries like India and China. Advancements in alcoholic beverage manufacturing, rising disposable incomes, urbanisation, and the popularity of premium and super-premium whiskeys contribute to the market growth, with manufacturers actively promoting products through various channels, including online portals. Organic whiskeys are gaining traction among consumers seeking innovative and distinctive drinking experiences.

In June 2022, Brown–Forman Corporation (NYSE: BFA) and The Coca-Cola Company (NYSE: KO) announced a global collaboration to introduce a branded, ready-to-drink (RTD) pre-mixed cocktail, featuring the iconic Jack & Coke. The Jack Daniel’s & Coca-Cola RTD, crafted with Jack Daniel’s Tennessee Whiskey and Coca-Cola, was set for a worldwide release, with Mexico being the initial launch market in late 2022. The beverage, featuring the two renowned trademarks, adheres to responsible marketing practices, includes clear age-related symbols, and offers a zero-sugar variant alongside the standard version with varying alcohol beverage volume based on market regulations.

In November 2022, High West Distillery, a Constellation Brands-owned establishment, partnered with The Prisoner Wine Company to unveil two limited-edition offerings – The Prisoner’s Share, a blend of High West bourbon and rye whiskeys finished in The Prisoner wine barrels, and Complicit, a red blend aged for 12 months in various barrels.

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Market Breakup by Type, Quality, Distribution Channel, and Region:

• The market is segmented based on type into American, Irish, Scotch, Canadian and other whiskies.

• Based on quality, the market is divided into premium, high-end premium, and super premium.

• On the basis of distribution channel, the market can be categorised into off-trade and on-trade.

• Region-wise, the global market for whiskey can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

• The market benefits from the increasing global demand for and consumption of alcoholic beverages. These beverages, sought after as recreational drinks, have garnered widespread popularity among consumers.

• The expansion of whiskey distilleries worldwide, coupled with increased production, is fueling the market growth. Furthermore, the burgeoning retail sector serves as an additional catalyst for the market.

• The global whiskey market growth is propelled by factors such as increasing disposable incomes, evolving lifestyle patterns, and the rapid urbanisation and globalization. Additionally, major players' extensive promotional activities have effectively captured consumers' attention.

Key Offerings of the Report:

• The EMR report gives an overview of the global whiskey market for the periods (2018-2023) and (2024-2032).

• The report also offers historical (2018-2023) and forecast (2024-2032) market information for the type, quality, distribution channel, and major regions of whiskey.

• The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

The major players in the whiskey market are Diageo plc, Bacardi Limited, William Grant & Sons Limited, Brown-Forman, and Edrington, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

Key Highlights of the Report

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