The Global Whiskey Market size is projected to grow at a CAGR of 4.2% during the forecast period from 2021-2028 and the market is projected to reach USD 7.2 billion by 2028. This growth can be attributed to factors such as rising disposable incomes in emerging economies coupled with an increase in demand for alcohol products among youngsters.
Whiskey is a type of distilled alcoholic beverage made from fermented grain mash. The word whiskey comes from the Gaelic word uisce beatha, which means 'water of life. Whiskey contains at least 40% alcohol by volume (ABV) and is typically aged in oak barrels after fermentation for an extended period to make it more palatable without being undrinkable.
The aging process includes several distinct stages: first, maturation where chemical reactions with barrel materials create properties that change flavor profiles; second, mellowing or balancing when other flavors are extracted and volatiles re-distilled off; third, stabilization when natural impurities dissipate through oxidation; fourth, bottling when last traces of air are removed and the whiskey is ready for consumption.
On the basis of Types, the market is segmented into Scotch Whisky, US Whiskey, Canadian Whiskey, and Irish Whiskey.
Scotch whisky is a type of whiskey made in Scotland, usually using barley malt and mixed grain including corn, wheat, or rye. The process includes malting the grains before they are mashed with hot water to produce wort for fermenting later on yeast. After fermentation is complete, the product undergoes distillation twice which yields an alcoholic drink that typically has around 40-50% alcohol content by volume (ABV).
To make Scotch whisky all whiskeys must be aged at least three years in barrels; however, starting January 2020 new regulations will stipulate that whiskies must also spend two out of every three years maturing inside casks instead of just one year. These rules have been put into place due to fears amongst many Scotch distillers that the traditional maturation process is being disrupted.
US whiskey is a type of distilled spirit made in the United States from fermented grain mash. It's heavy, dark, and smooth on your tongue with an oaky finish - perfect for cold winter nights or to celebrate everyday victories. The best way to describe US whiskeys is that they are flavorful enough to be enjoyed neat, but also versatile enough so you can use it as the base spirit for cocktails like Manhattans and Old Fashioneds.
Canadian whiskey is a type of whisky that's produced in Canada. It can be made from any fermented mash, but it most often uses corn as its main ingredient. Canadian whiskies are typically aged in new oak barrels and use wheat for flavoring. They're usually distilled twice like bourbon as opposed to the triple distillation process used by Scotch or Irish whiskeys. A typical expression of this type of liquor would have an alcohol content between 40% - 46%.
Irish whiskey is a type of whiskey that embraces the Irish tradition. It's made from malted and unmalted barley, as well as other cereal grains including corn or wheat in some cases. The mash ferments for about three days before distillation takes place in a small pot still - which means it has fewer congeners than Scotch whisky. This gives Irish Whiskey its characteristic clean taste with more pronounced flavors like vanilla, honey, butterscotch, and even citrus notes ̶ not to mention bouquets of fresh fruit such as apples and pears.
On the basis of Application, the market is segmented into Household Application and Commercial Application.
The use of whiskey in households is not as popular in other applications. It can be used to produce a variety of alcoholic drinks such as cocktails, mixed drinks, and punches. For example, Old Fashioned or the Whiskey Sour are both made with whiskey. In addition to these, there are many different concoctions that call for this strong beverage such as Tom Collins (a mixture of gin or vodka and lemon juice), Lemon Drop Martini (vodka mixed with sour water) which also have become quite popular among bartenders all around the world. In general, though, people tend to prefer beer over whiskey when it comes to drinking at home - especially if they want something light because whisky has a high alcohol content which makes it more suitable for mixing.
The commercial application segment accounted for more than half of the total market share in 2017. This is mainly due to its high demand among customers who use it as a base ingredient for alcoholic beverages such as cocktails, which are served at bars and other public places. This needs to be taken into account when designing marketing campaigns for whiskey manufacturers.
On the basis of Region, the market is segmented into North America, Latin America, Europe, Asia Pacific, and the Middle East & Africa. North America is the largest market for Whiskey with a share of more than 30%. This is mainly due to an increasing population with disposable income which leads to rising demand from both the commercial application as well as household use segments.
Up Market Research published a new report titled “Whiskey Sales Market research report which is segmented by Types (Scotch Whisky, US Whiskey, Canadian Whiskey, Irish Whiskey, Other Whiskey), By Applications (Household Application, Commercial Application), By Players/Companies Diageo, Pernod Ricard, Allied Blenders & Distillers, William Grant & Sons, Brown Forman, John Distilleries, Beam Suntory, Radico Khaitan, Sazerac, Thai Beverage”.
|Report Attributes||Report Details|
|Report Title||Whiskey Sales Market Research Report|
|By Type||Scotch Whisky, US Whiskey, Canadian Whiskey, Irish Whiskey, Other Whiskey|
|By Application||Household Application, Commercial Application|
|By Companies||Diageo, Pernod Ricard, Allied Blenders & Distillers, William Grant & Sons, Brown Forman, John Distilleries, Beam Suntory, Radico Khaitan, Sazerac, Thai Beverage|
|Regions Covered||North America, Europe, APAC, Latin America, MEA|
|Historical Year||2018 to 2019 (Data from 2010 can be provided as per availability)|
|Number of Pages||204|
|Number of Tables & Figures||143|
|Customization Available||Yes, the report can be customized as per your need.|
The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.
The market is segmented by Type Scotch Whisky, US Whiskey, Canadian Whiskey, Irish Whiskey, Other Whiskey and By Application Household Application, Commercial Application.
Some of the companies that are profiled in this report are:
Whiskey Sales Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.
Key Benefits for Industry Participants & Stakeholders:
Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.
We have studied the Whiskey Sales Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.
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