Whiskey Market Size Expected to Reach US$ 91.3 Billion by 2028
The global whiskey market size reached US$ 64.0 Billion in 2022. Looking forward, the market expected to reach US$ 91.3 Billion by 2028, exhibiting a growth rate (CAGR) of 6% during 2023-2028, according to the latest research report by IMARC Group.
Whiskey refers to an alcoholic liquor that is manufactured from a fermented mash of grain, such as barley, rye, wheat, and corn. It is widely available as blended, single malt, Irish, scotch, bourbon, Canadian, rye, Japanese, and Tennessee whiskey. It is a rich source of phosphorus, thiamine, zinc, iron, and niacin. It assists in improving the immune system, promoting weight loss, and reducing stress levels and blood clotting. Besides this, it aids in lowering the risk of dementia and Alzheimer’s disease, lowering diabetes risk, and preventing the growth of cancerous cells. As a result, whiskey is consumed by individuals in households, hotels, restaurants, and cafes across the globe.
Whiskey Market Trends:
Presently, the increasing demand for whiskies among individuals as it lowers the risk the various heart diseases, such as heart failure, stroke, and heart attack, represents one of the primary factors propelling the market growth. Apart from this, the rising demand for whiskies due to the increasing number of bars, pubs, clubs, and cafes across the globe is supporting the market growth.
In addition, the growing demand for premium and original quality whiskies among the masses worldwide is offering a positive market outlook. Additionally, various benefits offered by whiskies, such as the lower risk of obesity, relief from cold or flu, stimulation of stomach enzymes, and reduced bodily inflammation, are bolstering the growth of the market. Furthermore, key players are introducing travel retail exclusive range of whiskies in different varieties, which is strengthening the growth of the market.
Competitive Scenario with Key Players:
The competitive landscape of the market has also been analyzed, with some of the key players being
- Diageo plc,
- Bacardi Limited,
- Suntory Beverage & Food Limited,
- Pernod Ricard,
- The Brown–Forman Corporation,
- Asahi Group Holdings Ltd,
- William Grant & Sons Holdings Ltd,
- The Edrington Group,
- Allied Blenders and Distillers Pvt Ltd,
- Constellation Brands,
- La Martiniquaise, etc.
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Global Whiskey Market Report Coverage and Industry Segmentation:
The report cover the below key market segments:
Market Segmentation by Product Type:
- American Whiskey
- Irish Whiskey
- Scotch Whiskey
- Canadian Whiskey
- Others
Market Segmentation by Quality:
- Premium
- High-End Premium
- Super Premium
Market Segmentation by Distribution Channel:
- Off-Trade
- Supermarkets and Hypermarkets
- Discount Stores
- Online Stores
- Others
- On-Trade
- Restaurants and Bars
- Liquor Stores
- Others
- Off-Trade
Market Segmentation by Region:
- Europe
- North America
- Asia Pacific
- Middle East and Africa
- Latin America
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