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Whiskey Market Trends

Report ID: GMI3322
Published Date: Jul 2024
Report Format: PDF

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Whiskey Market Trends

The whiskey industry is propelled by the increasing demand for high-quality luxury products and expansion into new international markets. Consumers seek premium experiences, prompting distillers to innovate with rare blends and aged varieties.

Moreover, companies explore untapped markets like Asia-Pacific and emerging economies, capitalizing on rising disposable incomes and evolving tastes. This convergence of quality and global expansion fuels growth, enticing both connoisseurs and new whiskey enthusiasts alike. For instance, in December 2023, Don Julio, a Diageo tequila brand, expanded into India with its lineup featuring Don Julio Blanco, Reposado, Anejo, and the luxury spirit Don Julio 1942.

Authors: Kiran Pulidindi, Kunal Ahuja

Frequently Asked Questions (FAQ) :

Market size for whiskey was valued at USD 69.04 billion in 2023 and will grow at 6.9% CAGR from 2024 to 2032, driven by new product innovations, such as unique flavors and rare blends.

The Scotch segment in the whiskey market will exhibit 7% CAGR through 2032, owing to its longstanding global reputation for quality and tradition.

Asia Pacific market will register 7.3% CAGR during 2024-2032, attributed to rapid urbanization, rising disposable incomes, and changing consumer preferences.

Suntory Holdings Ltd., Diageo, Angus Dundee Distillers Plc., Pernod Ricard, William Grant and Sons, Constellation Brands, Inc., Chivas Brothers, Brown Foreman, and La Martiniquaise among others.