In 2015, the global whiskey market was the third largest segment and also the fastest growing segment in the global spirits market and is expected to register a CAGR of more than 5% between 2016 and 2020. The demand for premium whiskey is on the rise, especially in major markets such as the UK and the US, and is one of the key drivers of the global whiskey market. Balblair Highland Single Malt Scotch Whisky 1999, Hudson Baby Bourbon Whiskey, and Suntory Yamazaki Distiller's Reserve Single Malt Whisky are some of the famous brands of premium whiskey.
The growing popularity and demand for Irish whiskey and American bourbon is another major trend driving the growth of the whiskey market globally. Irish whiskey and the American whiskey is projected to grow at a CAGR of more than 8% and 7%, respectively during the forecast period.
Product segmentation and analysis of the global whiskey market
Scotch whisky US whiskey Canadian whisky Irish whiskey Other whiskey (Indian whiskey, national whiskey, Spanish whiskey, and Japanese whiskey) In 2015, the whiskey market was dominated by the other whiskey segment, accounting for almost 56% of the market share. The growth of this segment is mainly attributed to the high demand of the Indian whiskey, which is one of the most consumed alcoholic beverages in the world. However, the growth of the other whiskey segment is projected to slow down a tad in the next five years.
Segmentation and analysis of the global whiskey market by distribution channel
Supermarkets/hypermarkets On-trade Specialist retailers Online Convenience stores In 2015, the market was dominated by the supermarkets/hypermarkets, accounting for more than 35% of the market in terms of volume. For instance, supermarkets and hypermarkets are set to grow at an annual growth rate of approximately 12% in Qatar. In ASEAN countries, the penetration of modern retail chains has increased from 11%-38% in 2009 to 16%-45% in 2014.
Competitive landscape and key vendors
The growing popularity of whiskey among all age groups is motivating vendors to usher in new flavors and varieties in the competitive Alcohol industry, which in turn acts as a challenge to the established premium brands. Many new whiskey brands are emerging from across the world such as Japan, Croatia, Spain, Sweden, Taiwan, Romania, New Zealand, and China, thereby intensifying the competition in the market.
The leading vendors in the market are -
ABD Distillers Beam Suntory Brown-Forman Diageo Pernod Ricard The other prominent vendors of the market include Asahi Breweries, Bacardi, Constellation Spirits, Distell Group, Gruppo Campari, Heaven Hill Distilleries, Highwood Distilleries, John Distilleries, Radico Khaitan, Shiva Distilleries, Tilak Nagar Industries, and United Spirits.
Key questions answered in the report
What will the market size and the growth rate be in 2020? What are the key factors driving the global whiskey market? What are the key market trends impacting the growth of the global whiskey market? What are the challenges to market growth? Who are the key vendors in the global whiskey market? What are the market opportunities and threats faced by the vendors in the global whiskey market? Trending factors influencing the market shares of APAC, the Americas, and EMEA? What are the key outcomes of the five forces analysis on the global whiskey market? Related reports
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Technavio Announces the Publication of its Research Report – Global Whiskey Market 2016-2020
Technavio recognizes the following companies as the key players in the Global Whiskey Market: ABD Distillers, Beam Suntory, Brown-Forman, Diageo and Pernod Ricard
Other Prominent Vendors in the market are: Asahi Breweries, Bacardi, Constellation Spirits, Distell Group, Gruppo Campari, Heaven Hill Distilleries, Highwood Distilleries, John Distilleries, Radico Khaitan, Shiva Distilleries, Tilak Nagar Industries, and United Spirits.
Commenting on the report, an analyst from Technavio’s team said: “The emergence of several trends in the market are expected to exert a positive influence on the market's growth during the forecast period. One such trend is the increased demand for Irish whiskey and American bourbon. It is the fastest-growing segment and will register healthy growth during the forecast period.”
According to the report, the growth in the global whiskey market is driven by the growing demand for premium whiskies. This has increased the market's growth both in terms of revenue and volume. Consumers prefer premium brands over regular ones. Another key driver contributing to the market's growth is the increase in disposable income.
Further, the report states that the growth of the global whiskey market is curtailed by some serious challenges, a major one being the rise in counterfeit products. The increasing number of fake whiskey bottles in the market is damaging the image of the brands and affecting their sales.
ABD Distillers, Beam Suntory, Brown-Forman, Diageo, Pernod Ricard, Asahi Breweries, Bacardi, Constellation Spirits, Distell Group, Gruppo Campari, Heaven Hill Distilleries, Highwood Distilleries, John Distilleries, Radico Khaitan, Shiva Distilleries, Tilak Nagar Industries, and United Spirits.