May 17, 2019: Adroit Market Research in its latest study titled, “Global Single Malt Whisky Market Size 2017 by Type (Scotch Whisky, American Whisky, Irish Whisky, Others), by Distribution Channel (Supermarkets, On-Trade, Specialist Retailers, Online, Convenience Stores), By Region and Forecast 2019 to 2025” covers the single malt whisky market revenue during 2012 to 2025, wherein 2012 to 2018 imply the actual annual revenue with forecast for the period 2019 and 2025. The global single malt whisky market report also includes qualitative insights of the market such as drivers, restraints, opportunities.
The global single malt whisky market revenue is estimated to reach USD 3.43 billion by 2025 driven by the rapid growth in Scotch whisky exports coupled with the rising middle class population in Asia Pacific which is the major revenue generating region for the global single malt whisky market. The increasing consumption demand for single malt whisky across the global markets is driven by passionate connoisseurs, investors and collectors along with the rising demand from the hugely expanding hotel industry.
Whisky’s complexity, legacy and potential for innovation in craft distilling have rendered it more attractive to a hipster audience globally. Whisky was generally viewed as an older man’s drink. However, across the globe whisky has been witnessing a renaissance, with brands coming up with targeted products keeping the millennials and the hipster population in mind. Along with the targeted demography, the rising disposable income among the middle class population has led to increased purchasing power. Companies branding their products as premium beverages, add a level of sophistication which the people around the world are getting inclined towards.
The global single malt whisky market segmented on the basis of type was dominated by the Scotch whisky segment. This segment generated nearly 60% of the overall market revenue. Single malt Scotch whisky is among the most revered spirits among enthusiasts. It has a vast potential for variation, and it can offer complexity as well as simplicity, subtle whisper or unbridled power. Single malt Scotch whisky needs to be distilled at a single distillery in Scotland to be legally termed Scotch whisky. The high preference of this type is evident from its humongous export value. The U.S. was the largest importer of Scotch whisky and its imports were valued at USD 511.8 million between January and June in 2017. The high demand of Scotch whisky has led to the opening of new distilleries. In 2017, 10 new distilleries were opened to meet the rising demand from the global market.
The global single malt whisky market generated the highest revenue in Asia Pacific. This region accounted for almost 31% of the market revenue in 2018. China and Japan were the largest consumers of single malt whisky followed by Southeast Asian countries, and India. This region has a huge potential for the single malt whisky market due to the presence of a large number of emerging economies. The economic development has led to a significant rise in the number of middle class population which are the main driving force of the single malt whisky market in this region. The presence of regional distilleries have also contributed to the rising demand for the market in this region. The rapidly booming hotel industry in Asia Pacific is also a primary reason for the burgeoning sales of single malt whisky market. For example in Singapore alone 6 new whisky bars opened in the later 6 months of 2017. Furthermore, promotional festivals around the world, have also enabled increased sales of whisky.
Key segments of global single malt whisky market
Type Overview, 2015-2025 (USD Million)
- Scotch Whisky
- American Whisky
- Irish Whisky
Distribution Channels Overview, 2015-2025 (USD Million)
- Specialist Retailers
- Convenience Stores
Regional Overview, 2015-2025 (USD Million)
- North America
- Rest of Europe
- Southeast Asia
- Rest of Asia-Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa