Whiskey Market Size & Share, by Product (Scotch Whiskey, American Whiskey, Canadian Whiskey, Irish Whiskey, Other Whiskey), Distribution Channel (On-Trade, Off-Trade) Regional Forecast, Industry Players, Growth Statistics Report 2024-2033

Market Outlook:

Whiskey Market size exceeded USD 68.25 Billion in 2023 and is anticipated to cross USD 141.45 Billion by 2033, registering a CAGR of more than 7.15% during the forecast period. A vibrant and varied segment of the alcoholic beverage market is the whisky market. It includes all aspects of global whisky (or whisky, depending on regional spelling preferences) production, distribution, and consumption. Due to rising consumer interest in premium and artisan whiskies, the whisky market has consistently expanded throughout the years.

Globally, the market's size and value are growing. Whiskey's flavour and quality are greatly influenced by its ageing and maturation. Whiskies can be aged for a variety of times, and uncommon and expensive varieties are frequently matured for several years. Emerging economies like India, China, and numerous Southeast Asian nations have all seen significant development in the whisky market. This expansion has been facilitated by changing consumer tastes and rising middle-class wages. Numerous brands and distilleries, from major multinational corporations to small artisanal producers, may be found on the global whisky market.

• Base Year Value (2023): USD 68.25 Billion
• CAGR (2024-2033): 7.15%
• Forecast Year Value (2033): USD 141.45 Billion
• Historical Data Period: 2019-2022
• Largest Region: North America
• Forecast Period: 2024-2033

Market Dynamics:

Growth Drivers and Opportunities:

Rapid growth in the production of liquor and spirit

As distilleries produce more different alcoholic beverages, they frequently broaden their product lines to include whisky alongside vodka, rum, gin and tequila. By diversifying, businesses can target a larger portion of the alcoholic beverage industry. Cross-promotion and brand synergy are advantageous for businesses with a presence across many subsectors of the alcohol and spirits market. A popular brand in one industry may assist a whisky producer sell their product, raising awareness and demand. More selections for spirits and spirits may entice customers to try out various alcoholic beverages. As customers learn more about different spirits due to this investigation, their interest in whisky could rise.

Economic development and government policies are increasing the sale of whiskey

Economic growth frequently results in greater discretionary income for people and households. As people's income levels increase, they might be more likely to spend money on luxury items like fine whisky. This may increase demand for whisky, especially for luxury and older brands. Consumer tastes may alter as a result of economic expansion. More affluent people may acquire a taste for more expensive spirits like single malt Scotch, premium bourbon, or rare and collector whiskies, which will raise demand. International whisky market growth may be fueled by economic growth in developing nations. Imported goods, such as whisky, are frequently in higher demand in nations with expanding economies. Developing economies that produce whisky can take advantage of these markets.

Report Scope

Report Coverage	Details
Segments Covered	Product, Distribution Channel
Regions Covered	• North America (United States, Canada, Mexico)   • Europe (Germany, United Kingdom, France, Italy, Spain, Rest of Europe)   Asia Pacific (China, Japan, South Korea, Singapore, India, Australia, Rest of APAC)   • Latin America (Argentina, Brazil, Rest of South America)   • Middle East & Africa (GCC, South Africa, Rest of MEA)
Company Profiled	Accolade Wines, Ace Spirits, Allagash Brewing Company, Allied Blenders and Distillers Pvt. Ltd., Brown-Forman, Diageo, ASAHI GROUP HOLDINGS, LTD., Bacardi, Pernod Ricard, Beam Suntory, Inc., Carlsberg Breweries A/S, Constellation Brands, Inc., Distell, Davide Campari-Milano N.V., John Distilleries, India, Molson Coors Beverage Company, Alko, WILLIAM GRANT & SONS, Anchor Brewing, and Chivas Brothers International Ltd

 

Industry Restraints & Challenges

Adulteration of whiskey in developing countries

Exports are a crucial part of the industry for nations that produce whisky. Scams involving adulteration can result in decreased demand for whisky on global markets and trade barriers when importing nations become suspicious of the quality of goods. Consumers may want more transparency and traceability in the whisky market as they become more aware of adulteration problems. This might result in a closer examination of the production and supply chains. Particularly expensive whisky brands put a lot of money on upholding the calibre and standing of their goods. Adulteration can diminish these brands' value and have an effect on sales and brand positioning.

Regional Forecast:

North American Market

North America is anticipated to dominate the Whiskey market from 2024 to 2033. The number of whiskey-producing craft distilleries in North America is on the rise. These artisanal, smaller-scale manufacturers frequently concentrate on distinctive and avant-garde whisky expressions, adding to the market's diversity. Whisky is distributed and sold in a variety of ways across North American markets, including state-run and independently held liquor stores. Whisky sales online have increased as well, giving customers more alternatives for where to buy. The global market for North American whisky, notably bourbon and Tennessee whisky, is expanding. Exports have grown dramatically in recent years to nations in Europe, Asia, and other continents.

Asia Pacific Market

Asia Pacific is witnessing the fastest market growth and is expected to surpass USD 63.14 billion by 2033.The demand for premium and imported whiskies has been spurred by the growing middle-class population and rising disposable income in several APAC nations. Higher-quality spirits like Scotch whisky, bourbon, and other premium whisky kinds are frequently sought after as people's wages rise. China and India are two important emerging Asian markets that will continue to increase in importance for the global whisky market. Both nations have sizable populations and rising whisky demand, which make them desirable markets for whisky producers. Some APAC nations, including Japan and India, have established successful whisky industries of their own. For example, Japanese whisky has attracted praise and respect on a global scale for the skill and quality of its production.

Segmentation Analysis:

Insights by Product

The scotch whiskey segment accounted for the largest market share and is estimated to reach USD 53.25 billion by 2033. The popularity of old and premium Scotch whiskies is on the rise. Premium Scotch companies are seeing an increase in sales as a result of consumers' willingness to spend money on aged, high-quality expressions. Scotch whisky is become a highly prized collectable and financial asset. Vintage Scotch whiskies, rare bottlings, and limited-edition releases can fetch hefty sums from investors and collectors. The demand for luxury spirits has increased as middle-class earnings have climbed in China and India, two emerging areas in Asia where the Scotch whisky market has developed.

Insights by Distribution Channel

The on-trade channels segment is projected to achieve over 7.15% CAGR between 2024 to 2033. The proliferation of on-trade channels has been fueled by the emergence of cocktail culture. Cocktail menus in bars and restaurants are frequently comprehensive and contain whiskey-based beverages. The inventive whisky drinks created by mixologists and bartenders have drawn customers to on-trade businesses. In places with a strong whisky heritage, tourism is particularly important for on-trade channel expansion. Visitors to on-trade establishments close to distilleries may be attracted by distillery tours, tourist centres and tourism with a whisky theme.

Competitive Landscape:

Major players in the market

• Accolade Wines
• Ace Spirits
• Allagash Brewing Company
• Allied Blenders and Distillers Pvt. Ltd.
• Brown-Forman
• Diageo
• ASAHI GROUP HOLDINGS, LTD.
• Bacardi
• Pernod Ricard
• Beam Suntory, Inc.
• Carlsberg Breweries A/S
• Constellation Brands, Inc.
• Distell
• Davide Campari-Milano N.V.
• John Distilleries, India
• Molson Coors Beverage Company
• Alko
• WILLIAM GRANT & SONS
• Anchor Brewing
• Chivas Brothers International Ltd