Whiskey Market Size – By Product, Distribution Channel Analysis, Share, Growth Forecast, 2025- 2034

Whiskey Market Size

The global whiskey market was valued at USD 72.7 billion in 2024 and is estimated to grow at a CAGR of over 6.7% from 2025 to 2034. Whiskey is a type of drink produced by distilling grain mash that has been fermented with yeast and includes corn, rye, wheat, and barley. The whiskey is produced in cask oak so that it can age to its specific taste.
 

The consumers across the world are seeking quality when it comes to craft whiskey and premium whiskey, which is showing a preference over quantity. Such shifts are particularly noticeable in developed markets like North America and Europe. The trend today is to look for premium and unique products with lower volumes, thus increasing interest in craft whiskey brands. There are estimates that the whiskey demand is in line with growing disposable incomes in new economies such as Asia Pacific and Latin America. These markets are rapidly rising in affluent consumers and tend to adopt western drinking culture increasing the consumption of such luxury spirits as whiskey.

Whiskey has now become more popular with a global audience owing to the rise of e-commerce. Consumers can effortlessly access whiskey directly from its producers or through specific retailers. During the COVID-19 pandemic, online sales dramatically increased due to consumers being limited from accessing stores. The growth of e-commerce had a huge impact and enabled consumers to access products from around the world. This global trend has allowed companies to see a growth in sales as well as variety of whiskey while also taking into consideration consumers level of income, resulting in more people becoming whiskey drinkers.
 

Whiskey Market Trends

The rise in supply of high-quality drink, that being a luxury good, has greatly surged the growth of the whiskey industry as well as the introduction into new regions. Distillers are put under pressure to cater to the whiskey demand for class experiences leading them to blend unique flavors into a matured variety.
 

The income and culture of the Asian and emerging markets aid companies to introduce their products, and the expansion on international markets provide an incentive to keep on enhancing the quality. The usage of new marketing strategies alongside the increased quality aids in attracting even more whiskey drinking enthusiasts and connoisseurs, such as Don Julio, who launched their products in India.
 

Whiskey Market Analysis

There is burgeoning issue in the market due to changing government policies, changing prices of materials and the high taxes raw alcohol incurs in different regions.
 

It is also dependent on the barrels of aging grains and wood where favorable agricultural conditions exist and are subject to change at times, for instance if extreme droughts occur. Various changes create tough conditions for producers who wish to engage in the market. Overall, this may hinder market growth and return on investment for many established producers who are in the market for a longer duration.
 

The scotch whiskey, American whiskey, Canadian whiskey, Irish whiskey, and others have segmented the whiskey market by products. In 2024, Scotch whiskey was reported to have the highest market revenue worth USD 26.9 billion. With centuries of heritage backing it, scotch whiskey is having loyal customers, rich culture, a wide range of production variety and high-quality control. These features increase its popularity globally with special focus on the emerging range of craft beverages. Highland whisky fits into this description too as the market is driven by passionate consumers of high-end quality products.
 

Furthermore, whiskey tourism in Scotland promotes the brand and engages consumers with its international presence. Through events and distillery tours, it is possible to have closer contact with the consumers, increase their loyalty and foster a better experience with Scotch whiskey. Heritage and premiumization with tourism will ensure scotch whiskey dominance in the international market, pattern growth and appeal to both the older and younger population in the market.
 

Based on distribution channel, the market is divided into on-trade and off-trade depending on the industry channels. The on-trade accounted for 52.3% of the whiskey market share in 2024, and their growth has been a result of the growing social drinking culture whereby the clients are more inclined towards spending on whiskey when at a bar, hotel or restaurant. Such establishments are seeing a surge in the demand for professionally made cocktails and high-end whiskey brands as clients are looking for new and classic alcohol brands to consume while socializing.
 

Also, creative whiskey cocktails are making a comeback, and this has aided the market as restaurant guests begin to favor specific types of drinks while away from home. The growth of the nightlife industry and the rise in the amounts spent during meals out only adds to the growth of this sector. Customers are encouraged to drink more whiskey when these bars and restaurants organize entertaining wine tasting activities, special whiskey and food preparation, and other promotions which help to reinforce the on-trade category. There is every indication that the value of the market will increase and the trend is likely to stay sustainable.
 

The U.S. whiskey market expanded in terms of revenue in 2024, bringing in roughly USD 13.3 Billion because of the ever-growing demand for premium spirits, in particular bourbon and rye whiskey. The industry is comprised of strong domestic consumption and impressive exports of the globally recognized American whiskey. As people transitioned to craft beverages and cocktails, there was an increase in whiskey-based cocktails, alongside whiskey tourism, further piquing consumer interest.
 

The U.S. significantly aids in the advancement of the whiskey market in North America, being the most vital country of the region. Due to the growing demand for premium, craft whiskey alongside whiskey cocktails, there is noticeable market expansion. Furthermore, there is burgeoning interest in whiskey tourism along with solid manufacturing infrastructure in the region. American brands benefit greatly from strong distribution channels that cover both on-trade and off-trade segments greatly expanding their consumer base.
 

Whiskey Market Share

Diageo, Brown Foreman, Pernod Ricard, Suntory and William Grant and Sons are working on extending the reach of their brands by innovating and diversifying their products. To appeal to the elite consumers, the companies have started developing exclusive and high range products. Better still, the approach of combining with public figures and influencers boosts the brand promotion efforts further. The companies are leveraging their business by advertising on the internet as well as social media to reach out to the customers directly.
 

Targeting emerging markets is the other main strategy. The manufacturers are developing new distribution and marketing channels and increasing their presence in the countries where the demand for whiskey is growing. By building factories in target areas, the companies would be able to satisfy local tastes in a short time and at less cost. Further, providing memorable customer experiences such as whiskey tasting, tours and private events would enhance their competitive positions in the industry.
 

Whiskey Market Companies

Major players operating in the whiskey industry are:

• Allied Blenders and Distilleries
• Brown Foreman
• Constellation Brands
• Diageo
• Edrington
• Kavalan Distillery
• La Martiniquaise
• Pernod Ricard
• Suntory
• Whyte & Mackay
• William Grant & Sons 
   

Whiskey Industry News

• The Chuan Pure Malt Whisky was officially made available for purchase in December 2023; this was the first product released under the company The Chuan and their goal of crafting a prestige malt whiskey made in China was established with this product. The alcohol is a product of China, therefore this marks the innovation of a new category; a fusion with malt whisky and Chinese liquor.
   
• In October 2023, in fascinating event that took place by name of – “Spirited Xchange” –during that, DIAGEO started their marketing for the 2023 limited collection of scotch whisky that they had decided to name by same event. A collection would display eight varying single malts, which were crafted to highlight the artisanship, culture, and taste from different countries.
   

The whiskey market research report includes in-depth coverage of the industry, with estimates & forecast in terms of revenue (USD Billion) & volume (Million Liters) from 2021 to 2034, for the following segments:

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Market, By Product

• Scotch whisky
• American whiskey
• Canadian whisky
• Irish whiskey
• Others

Market, By Distribution Channel

• On-trade
• Off-trade

The above information is provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • UK
  • Germany
  • France
  • Italy
  • Spain
  • Russia
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Australia 
• Latin America
  • Brazil
  • Mexico
• MEA
  • UAE
  • Saudi Arabia
  • South Africa