Global Bourbon Spirits Market Size study & Forecast, by Type (Wheated, Barrel Finished, Barrel Select, and Others), by ABV (40-45%, 46-55%, and 56% and above), by Distribution Channel (On-trade and Off-trade) and Regional Analysis, 2022-2029
Global Bourbon Spirits Market Size study & Forecast, by Type (Wheated, Barrel Finished, Barrel Select, and Others), by ABV (40-45%, 46-55%, and 56% and above), by Distribution Channel (On-trade and Off-trade) and Regional Analysis, 2022-2029
Global Bourbon Spirits Market is valued at approximately USD 7.8 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 5% over the forecast period 2022-2029. Bourbon Spirits is a type of whiskey that is made from 51% of corn mash that provides critical flavors. And Bourbon Spirits is the native drink of the United States of America. The Increasing demand for the alcohol beverage market is the key factor responsible for the Bourbon Spirits Market growth over the forecast period of 2022-2029.
The primary key factor anticipated to accelerate the growth of the Bourbon Spirits Market is the increasing demand for the alcoholic beverage market. According to Statista, in 2022, The alcoholic drinks market is estimated to reach 1,488.96 billion and worldwide is projected to grow to USD 1,986.72 billion. For instance, According to WHO, the total per capita alcohol consumption in India is expected to increase to 7.9 litres in 2025 from 6.6% litres in 2020. Also, Surge in demand for premium ready-to-drink & luxury spirits and the rise in demand from the millennial population is creating a lucrative growth prospectus for the market over the forecast period. Moreover, an increasing number of bars & pubs and rapid urbanization would create a lucrative growth prospectus for the market over the forecast period. However, the harmful consequences of bourbon spirits limit the growth of the market over the forecast period of 2022-2029.
The key regions considered for the Global Bourbon Spirits Market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America dominated the market in terms of the largest share due to the increasing demand for bourbon whisky among consumers, rising exports globally and an increase in the consumption of alcohol. Europe is expected to grow with the highest CAGR during the forecast period, owing to the presence of a large consumer base of bourbon spirits and awareness among the consumers related to the fermentation process and ingredients used.
Major market player included in this report are: Brown-Forman Corporation Suntory Holdings Limited Conecuh Brands, LLC Distiller's Way, LLC Laws Whiskey House MGP Ingredients, Inc. Bardstown Bourbon Company Wyoming Whiskey, Inc. Jos. A. Magnus & Co. Kirin Holdings Company, Limited Recent Developments in the Market: In June 2022, Laws Whiskey House introduced a new Bond Centennial Straight Wheat Whiskey bottle. This new whiskey meets several conditions, including being 2 years old and 51% wheat. The company's product offering to its customers will be expanded with the introduction of this new whiskey.
Global Bourbon Spirits Market Report Scope: Historical Data 2019-2020-2021 Base Year for Estimation 2021 Forecast period 2022-2029 Report Coverage Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends Segments Covered Type, ABV, Distribution Channel, Region Regional Scope North America; Europe; Asia Pacific; Latin America; Rest of the World
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.
The detailed segments and sub-segment of the market are explained below:
By Type: Wheated Barrel Finished Barrel Select Others
By ABV: 40-45%, 46-55%, 56% and Above
By Distribution Channel: On-trade Off-trade
By Region: North America U.S. Canada Europe UK Germany France Spain Italy ROE Asia Pacific China India Japan Australia South Korea RoAPAC Latin America Brazil Mexico Rest of the World
Companies Mentioned
Brown-Forman Corporation Suntory Holdings Limited Conecuh Brands, LLC Distiller's Way, LLC Laws Whiskey House MGP Ingredients, Inc. Bardstown Bourbon Company Wyoming Whiskey, Inc. Jos. A. Magnus & Co. Kirin Holdings Company, Limited
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