Global American Whiskey Market 2016-2020
About American Whiskey
The production and labeling of American whiskey has to be under the Title 27 of the US Code of Federal Regulations. American whiskey was traditionally produced within the boundaries of the US and can be classified as bourbon, Tennessee whiskey, rye whiskey, corn whiskey, wheat whiskey, blended whiskey, and malt whiskey. With the exception of Tennessee whiskey and Canadian whisky, Kentucky (US) can produce all kinds of North American whiskey. It has the largest concentration of distilleries in North America.
Technavio’s analysts forecast the global American whiskey market to grow at a CAGR of 6% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the global American whiskey market for 2016-2020. To calculate the market size, the report considers the revenue generated from the retail sales of American whiskey products to individual consumers as well as clubs, pubs, and bars.The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global American Whiskey Market 2016-2020
Technavio recognizes the following companies as the key players in the global American whiskey market: Beam Suntory, Brown-Forman, Diageo, Gruppo Campari, and Heaven Hill.
Other prominent vendors in the market are: Alexandrion Grup Romania, Alltech Lexington Brewing and Distilling, Barrel House Distilling, Boone County Distilling, Boundary Oak Distillery, Kirin Brewery, Michter’s Distillery, Sazerac, and Willett Distillery.
Commenting on the report, an analyst from Technavio’s team said: “One trend gaining popularity in this segment is new product launches. Companies are launching new products, which will help in driving the sales of American whiskey now and during the forecast period. This helps them gain a large consumer base and meet the growing demands of the market. Vendors are now also experimenting with new packaging and labeling designs, a major purchase criterion for consumers. In 2015, Jim Beam launched new Jim Beam Apple. Similarly, the Orphan Barrel Whiskey Distilling Company owned by Diageo released its Rhetoric 21-Year-Old Kentucky Straight Bourbon Whiskey in August 2015. Some other notable new product launches in 2015 were Diamond State Bourbon Whiskey by Painted Stave Distilling and Yellowstone, limited edition Kentucky straight bourbon whiskey by Limestone Branch Distillery.”
According to the report, the growing cocktail culture will drive the global American whiskey market. The growing cocktail culture around the world has brought a significant increase in the demand for American whiskey. Bourbon is popular in the preparation of cocktails in bars and restaurants. With growing age and increase in their spending power, youth (18-29 years) will form a huge consumer group for cocktails. As a result, innovative cocktails will drive the global American whiskey market during the forecast period. Some of the popular bourbon cocktail tequilas are Bourbon Rickey, Brown Derby, Bourbon Old Fashioned, Bourbon Manhattan, Mint Julep, and Maker's Mark Collins.
Further, the report states that Vendors in the global whiskey market face issues in complying with the stringent rules and regulations imposed by the various authorities in certain countries the vendors operate in. These regulations pertain to permits, regulations for the entry of new players, and the launch of new products. The number of regulations present in some countries is minimal and they are at times lenient, whereas in other countries the regulations are stringent and on the rise. In China, a large percentage of the whiskey consumed is through corporate gifting to officials contributing to the problem of corruption. Consequently, to keep a check on the rising corruption, the government in China in 2013, restricted gifting of expensive gifts to officials, which included whiskey, watches, and other luxury goods. This resulted in a 66% decline in the sales of whiskey in China in 2013. Also, most of the locally produced spirits are falsely labeled and sold as Scotch whisky, which is hampering the images of the brand and limiting sales.
Beam Suntory, Brown-Forman, Diageo, Gruppo Campari, Heaven Hill, Alexandrion Grup Romania, Alltech Lexington Brewing and Distilling, Barrel House Distilling, Boone County Distilling, Boundary Oak Distillery, Kirin Brewery, Michter’s Distillery, Sazerac, Willett Distillery.