Global Whiskey Market, which accrued nearly 61.75 (USD Billion) in 2019, is set to record the CAGR of nearly 6.1% over the period from 2020 to 2026
The global Whiskey market, which accrued nearly 61.75 (USD Billion) in 2019, is set to record the CAGR of nearly 6.1% over the period from 2020 to 2026. The report offers assessment and analysis of the Whiskey market on a global and regional level. The study offers a comprehensive assessment of the market competition, constraints, sales estimates, opportunities, evolving trends, and industry-validated data. The report offers historical data from 2017 to 2019 along with a forecast from 2020 to 2026 based on revenue (USD Billion).
Whisky is a kind of distilled alcoholic drink that is produced from fermented grain mash. The grains used for malting to produce whiskey can include barley, rye, wheat, and corn. Moreover, the beverage is cost-effective luxury product encouraging whiskey manufacturers to launch premium as well as non-premium whiskey items. The most prominent kinds of whiskey that generate huge sales & revenues for manufacturers include American whiskey, scotch, Irish whiskey, blended whiskey, and grain whiskey. The intake of whiskey in moderate proportion can prove beneficial for health and also minimizes the risk of heart disorders as well occurrence of high or low blood pressure in individuals.
Market Growth Drivers
Massive demand for premium as well as super-premium whiskeys in both the emerging as well as developed countries will influence the expansion of whiskey market over the forecast timeline. Apart from this, breakthroughs in process of making alcoholic beverages along with rise in the proportion of whiskey distilleries will elevate the expansion of global whiskey market over the estimated timespan.
Moreover, altering life patterns of customers along with rising trend among working professionals towards more of socializing & weekend parties will steer the business trends. Furthermore, rise in the promotional activities & advertisement campaigns on social media, internet, TV, and print media will bolster the scope of the business. Additionally, online shopping & retail activities and thriving ecommerce activities will promulgate the growth of market during the forecast period. Expansion of the product portfolio will further increment the growth of the industry over the estimated timespan.
Asia Pacific To Contribute Notably Towards Global Market Share By 2026
The expansion of whiskey market in Asia Pacific zone during 2020-2026 is due to large-scale consumption of the alcoholic beverage in countries like India, Japan, Singapore, and China. Apart from this, low product costs & huge production capacity is anticipated to steer the regional market expansion over the forecast timespan.
Key players of the market include Suntory Beverage & Food Limited, The Edrington Group, Bacardi Limited, Constellation Brands, Pernod Ricard, Allied Blenders and Distillers Pvt Ltd., Diageo plc, Asahi Group Holdings Ltd., La Martiniquaise, The Brown–Forman Corporation, and William Grant & Sons Holdings Ltd.
The report segments the global whiskey market as follows:
By Raw Material
By Distribution Channel
Massive demand for premium as well as super-premium whiskeys in both the emerging as well as developed countries will influence the expansion of whiskey market over the forecast timeline.
The CAGR of the industry is expected to be over 6.1% during the forecast timeline.
Asia Pacific region will contribute lucratively towards the global market revenue over the estimated timeline.
The key market participants include Bacardi Limited, Pernod Ricard, Allied Blenders and Distillers Pvt Ltd, Asahi Group Holdings Ltd, La Martiniquaise, The Edrington Group, Diageo plc, Constellation Brands, The Brown–Forman Corporation, Suntory Beverage & Food Limited, and William Grant & Sons Holdings Ltd.
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