Global Scotch Whisky Market 2017-2021
About Scotch Whisky
Scotch whisky is produced in Scotland. It is produced, packaged, and labeled as per SWR 2009. Scotch whisky is produced in five regions in Scotland: Highland, Lowland, Islay, Speyside, and Campbeltown.
Technavio’s analysts forecast the global scotch whisky market to grow at a CAGR of 2.35% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global scotch whisky market for 2017-2021. To calculate the market size, the report considers the retail selling price as the average selling price for the product.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Scotch Whisky Market 2017-2021
Technavio recognizes the following companies as the key players in the global scotch whisky market: Bacardi, Beam Suntory, Diageo, Pernod Ricard, and William Grant & Sons.
Other Prominent Vendors in the market are: Aceo, Ben Nevis Distillery, Brown-Forman, Edrington, Glenmorangie, George Ballantine and Son, Gordon & MacPhail, Harvey's of Edinburgh International, International Beverage, and Isle of Arran Distillers.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is increase in demand for premium scotch whisky. The growth of the Scotch whisky market is mainly driven by factors such as increasing demand for premium whiskey and the changing perception of Scotch whisky among consumers. Blended Scotch whisky has the majority market share globally. The increase in disposable income, especially in emerging countries, has increased the affordability of such products among consumers.”
According to the report, one of the major drivers for this market is premiumization. Premiumization is a critical driver for the spirit category and for Scotch whisky. Consumers consider whiskey to be an affordable luxury. Due to this, manufacturers are launching more premium and super-premium products to meet the demand. Mature markets such as the US and France are still driven by premiumization. In China, despite the ban on gifting luxury goods, including premium whiskey, Diageo’s super-premium brand Johnnie Walker Blue Label reported an increase over the past few years.
Further, the report states that one of the major factors hindering the growth of this market is increase in demand for aged scotch whisky leads to shortage and price rise. Rising demand for old Scotch whisky has led to a shortage. Age claims from consumers are prevalent in the Scotch whisky market. The issue arises when there are no shortcuts to speed-up the distillation process. Maturation of single malt whiskey takes place at a slower rate compared to grain whiskies. Demand for single malt is increasing, and the volume of single malt in stock is low and cannot meet the demand. Single malt is used to make blended whiskies as well.
Bacardi, Beam Suntory, Diageo, Pernod Ricard, William Grant & Sons, Aceo, Ben Nevis Distillery, Brown-Forman, Edrington, Glenmorangie, George Ballantine and Son, Gordon & MacPhail, Harvey's of Edinburgh International, International Beverage, and Isle of Arran Distillers.