The value of the Whiskey market is projected to grow to US$ 92.14 Bn. with an estimated CAGR of 5.9% by 2029
Whiskey is a type of alcoholic drink which is made from fermented grain mash. Typical grains that are used are rye, barley, malted rye, malted barley, wheat and corn. Ideally whiskey is stored in wooden white oak barrels and kept for aging. Whiskey is normally produced in the areas that grow grain and can differ in quality and content. The whiskey pricing is based on ageing and the products being used.
The global whiskey market is growing owing to the changes in lifestyles and the increased spending power of the people. Whiskey industry is set to grow owing to new opportunities being explored by major market players for example, new organic whiskey products that is going to penetrate the different geographies. However, the heavy taxation and legal guidelines by governments and health concerns with respect to whiskey are factors that might influence the growth of whiskey market size. Furthermore, there is an increased preference towards beer and wine which might also hamper the whiskey market growth.
The global whiskey market is segmented on the basis of product, by quality and region. Segmentation on the basis of product type whiskey is divided as Blended whiskey, malt, rye, wheat, corn, and many others. Among these categories the blended whiskey contributes to 79% to the Whiskey market share. Based on the quality of the whiskey, market is segmented as super premium whiskey, premium whiskey, and high-end premium whiskey. Among these the category of premium whiskey contributes maximum to the market share. It popular among all owing to it being pocket friendly and ease of availability across various stores.
The global whiskey market is classified as Europe, North America, South America, Asia-Pacific and others. Europe leads in whiskey making with contributing to almost 34% of the market size. Countries like Italy, Spain, Germany and France are regions having the maximum consumption in the European countries. The factors influencing the market are increased spending power of the masses and increased intake of whiskey by the youth generation. Europe is the region that also produces maximum amount of whiskey and at the same time has a large market share for it. The region of North America is the other main geographic region which contributes to almost 23% of the market share and it is often said that US alone consumes the largest amount of whiskey per person. Another region that is expecting to grow slowly but constantly is the region of South America. Asia-Pacific is another region that is a growing market for whiskey, this is mainly due to the influence of western culture among various people and the increased number of population in the countries. Countries like China, India and Japan are the main contributors of the global whiskey market
Key Players in the Whiskey market size are Bruker Corporation, Thermo Fisher Scientific, GE Healthcare, Luminex Corporation, New England Biolabs, and many others.
Whiskey Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2029||US$ 92.14 Bn.|
|Growth Rate||CAGR of 5.9% during 2021-2029|
|Segment Covered||By Beverage Type, Flavor, End Users, Regions|
|Regions Covered||North America, Europe, Asia Pacific, South America, Middle East and Africa|
|Key Players Profiled||United Spirits Limited, Allied Blenders and Distillers Pvt. Ltd, Pernod Ricard India (P) Ltd., Radico Khaitan Ltd., Jagatjit Industries Limited, Others|
The various segments of Whiskey market size are:
By Product type:
- Blended Whiskey
- Super premium whiskey
- Premium whiskey
- High-end premium whiskey
- North America
- South America