Yahoo Finance Worldwide Whiskey Market Size & Share Predicted to Hit Over USD 146.15 Billion by 2030, at 7.3% CAGR Growth: Polaris Market Research
[115+ Pages Research Study] According to Polaris Market Research report, the global whiskey market size & share expected to generate revenue of USD 146.15 Billion by 2030 and estimated to be valued at USD 80.5 Billion in 2021, at a compound annual growth rate (CAGR) of 7.3% from 2022 to 2030. The top market company profiles included in report with their sales, revenues and strategies are Pernod Ricard, Red Brick Brewing, The Edrington, United Spirits, Accoloade Wines, Anchor Brewing, Beijing Red Star, Brown Forman and Others.
New York, NY, Feb. 06, 2023 (GLOBE NEWSWIRE) -- Polaris Market Research has published a new research report titled “Whiskey Market Share, Size, Trends, Industry Analysis Report, By Product (Malt, Wheat, Rye, Corn, and Others); By Type; By Quality; By Region; Segment Forecast, 2022 - 2030” in its research database.
“According to the latest research study, the global whiskey market size & share are expected to generate revenue of USD 146.15 Billion By 2030 and are estimated to be valued at USD 80.5 Billion in 2021, at a compound annual growth rate (CAGR) of 7.3% from 2022 to 2030”
How Big is Whiskey Market? What is the Expected Size & Share of Whiskey in Global Market?
Report Overview
Whisky or whiskey is a distilled spirit made out of fermented grain mash, including rye, barley, corn, and wheat. Whisky is usually aged in wooden casks, which are made from oak and toasted. Several countries have imposed regulations that specify how whiskey is produced. There are various styles of whiskey, such as Irish whiskey, scotch, rye, bourbon, or Canadian whisky. These are used in numerous cocktail and shot recipes.
Some people enjoy straight whiskeys that are unmixed or mixed only with whiskey. Some add flavoring materials like sherry and fruit juices to their whiskey, while others add a splash of water. Changing consumer lifestyles and growing demand for whiskey products among the youth are the key factors driving the growth of the market. The rising shift from beer and wine to whiskey consumption is fueling the market demand.
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(The sample of this report is readily available on request. The report sample contains a brief introduction to the research report, a Table of Contents, a Graphical introduction of regional analysis, Top players in the market with their revenue analysis, and our research methodology.)
Our Sample Report May Includes:
2030 Updated Report Introduction, Overview, and In-depth industry analysis.
115+ Pages Research Report (Inclusion of Updated Research).
Provide Chapter-wise guidance on Requests.
2022 Updated Regional Analysis with Graphical Representation of Size, Share & Trends
Includes Updated List of tables & figures.
Updated Report Includes Top Market Players with their Business Strategy, Sales Volume, and Revenue Analysis.
Key Offerings of the Industry Report
Assessment of all opportunities and risks in the market.
Conclusive study about the growth of the market for forthcoming years.
In-depth understanding of market-particular drivers, and constraints.
It provides historical and forecasts revenue of the market segments and sub-segments with respect to main geographies and their countries.
Country-level analysis of the market with respect to the current size and future prospective.
Some of the Top Market Players Are:
Pernod Ricard
Red Brick Brewing
The Edrington
United Spirits
Accoloade Wines
Anchor Brewing
Beijing Red Star
Brown Forman
Bacardi
Beam Suntory
Asahi Group
Johnnie Walker
Diageo
Bass Brewery
Suntory Holding
William Grant
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Market Dynamics
Key Growth Driving Factors
A surge in demand for blended whiskey and super-premium drinks is augmenting the market growth
Growing consumer spending capacity, and rising demand for blended whiskey and super-premium drinks in developed counties such as the U.S., France, UK., and Canada, are expected to propel the market growth. An increased number of nightclubs, pubs, restaurants, and distilleries globally is augmenting the growth of the whiskey industry. Also, drinking whiskey in a reasonable amount can provide positive health outcomes and also reduces the risk of heart disorders as well as the incidence of high or low blood pressure, which is anticipated to boost the demand for the whiskey market during the forecast period.
Recent Trends Influencing the Market
Introduction of new whiskey products to push the industry expansion
The rising number of innovations in whiskey products, including various flavors and product quality, is boosting the market growth. Also, the recently increased investments in the research and development of whiskey products, as well as increasing initiatives for promoting whiskey as a better source of protein with digestibility, are predicted to bolster the adoption of these products across the world.
The rapidly growing retail sector and the rise in the development of various online retailing portals, which encourage customers to purchase whiskey products are market trends enhancing its expansion. Furthermore, expanding the food service industry is expected to create new opportunities in the whiskey market in the coming years.
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Segmental Analysis
Wheat segment is likely to register the fastest growth
Based on product whiskey market segmentation, the wheat segment is growing at the fastest rate during the foreseen period owing to several properties of whiskey products from wheat, such as saporous products, lightness, and the availability of gentle sweetness in them. The spice element in the wheat product is comparably low as compared to a large number of secondary grains is anticipated to drive the segment growth over the foreseen period.
Premium segment held the major whiskey market share in 2021
On the basis of quality, the premium segment captured the largest market share in 2021 and is expected to maintain its dominance over the forecast period. Some of the key factors boosting the segment growth include the growing demand for conventional drinks, a rise in consumer attention towards premium segment products, and a number of products offered by whiskey producers worldwide. In addition, the increasing club and pub-visiting population, along with demand for alcoholic beverages in genuine flavors, is estimated to fuel the segment demand.
Scotch whiskey segment accounted for the highest revenue share
In terms of type, the scotch whiskey segment dominated the market in 2021 due to the rising popularity of Scottish whiskey across the globe due to its taste, aroma, and texture. Also, the availability of scotch whiskey in both premium and the high-end premium segment has been favoring the product adoption and use in pubs, restaurants, and nightclubs in order to meet consumers’ needs.
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Whiskey Market: Global Report Scope & Trends Analysis
Report Attribute | Details |
Revenue forecast in 2030 | USD 146.15 Billion |
Market size value in 2022 | USD 83.28 Billion |
Expected CAGR Growth | 7.5% from 2022 - 2030 |
Base Year | 2021 |
Forecast Year | 2022 - 2030 |
Top Market Players | Pernod Ricard SA, Red Brick Brewing Company, The Edrington Group, United Spirits Ltd., Accoloade Wines, Anchor Brewing Company, Beijing Red Star Co., Brown Forman, Bacardi Ltd., Beam Suntory, Asahi Group Holding Ltd., Johnnie Walker, Diageo, Bass Brewery, Suntory Holding Ltd., and William Grant & Sons. |
Segments Covered | By Type, By Product, By Quality, By Region |
Customization Options | Customized purchase options are available to meet any research needs. Explore customized purchase options |
Geographic Overview
North America region captured the greatest revenue share in 2021
Based on geography, the whiskey market in North America witnessed the highest market share in 2021 and is anticipated to continue its dominance over the anticipated period. The region’s growth can be attributed to the growing number of premium whiskey manufacturers and shortened timelines for authorization from federal and state regulatory authorities. Further, growing consumer trends towards the advancements in products and variations in their product ranges are driving the regional market growth.
Moreover, Asia Pacific is witnessing the fastest growth due to the rising consumer spending power coupled with the increasing adoption of western culture among youngsters, particularly in developing countries such as India, China, and Indonesia. In addition, the rising focus of market players on expanding their business worldwide is expected to open growth opportunities in the whiskey market during the predicted period.
Browse the Detail Report “Whiskey Market Share, Size, Trends, Industry Analysis Report, By Product (Malt, Wheat, Rye, Corn, and Others); By Type; By Quality; By Region; Segment Forecast, 2022 - 2030” with in-depth TOC: https://www.polarismarketresearch.com/industry-analysis/whiskey-market
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Recent Developments
In July 2021, Diageo Plc unveiled that Johnnie Walker whiskey now would be available in paper bottles to curb the environmental impact caused by other types of packaging like plastic among others. The company also opted to sell its products in plastic-free bottles which are likely to be available in wood-pulp material packaging.
Frequently Asked Questions
Who are the crucial companies operating the market?
What are the major industry norms influencing the development of the industry?
Which is the most propelling country in the industry?
Which application or product type will obtain progressive development possibilities during the forecast period?
What is the expected growth rate of the market during the foreseen period?
Polaris Market Research has segmented the Whiskey market report based on product, type, quality, and region:
By Product Outlook
Malt
Wheat
Rye
Corn
Others
By Type Outlook
American Whiskey
Scotch Whiskey
Irish Whiskey
Canadian Whiskey
Others
By Quality Outlook
Premium
High-End Premium
Super Premium
By Region Outlook
North America (U.S., Canada)
Europe (France, Germany, UK, Italy, Netherlands, Spain, Russia)
Asia Pacific (Japan, China, India, Malaysia, Indonesia. South Korea)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)
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