Product ID: SQMIG30F2028
Report ID:
SQMIG30F2028 |
Region:
Global |
Published Date: February, 2024
Pages:
242
|
Tables:
61 |
Figures:
64
American Whisky Market was valued at USD 63.68 billion in 2019, and it is expected to reach a value of USD 107.13 billion by 2031, at a CAGR of 5.95% over the forecast period (2024-2031).
Whiskey can be consumed directly or by using in different cocktail and shot recipes. Blended whiskey, Single Malt whiskey, Irish whiskey, Japanese whiskey, Scotch whiskey, Bourbon whiskey, Tennesse whiskey, Canadian whiskey and Rye whiskey are the types of whiskey available in the American market. The popularity of Bourbon has been rising quickly on a global scale. The key factors driving the expansion of the U.S. whisky markets internationally are rising demand for premium U.S. whiskies, an increase in super-premium and ultra-premium products, quick development globally, and rapidly growing cocktail industries.
The demand for premium American spirits among consumers and favourable exchange rates are also contributing to the growth of American whisky sales abroad. Luxury Tennessee and Bourbon whiskies have shown double-digit growth in recent years, indicating that super-premium whiskies are particularly well-liked by American customers.
US American Whisky Market is poised to grow at a sustainable CAGR for the next forecast year.
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REQUEST FREE CUSTOMIZATIONAmerican Whisky Market was valued at USD 63.68 billion in 2019, and it is expected to reach a value of USD 107.13 billion by 2031, at a CAGR of 5.95% over the forecast period (2024-2031).
Global American Whisky Market is highly competitive and somewhat fragmented. To maintain a competitive edge, the major industry participants are continually implementing various growth strategies. Innovations, mergers, and acquisitions, collaborations and partnerships are adopted by these players to thrive in the competitive market. In order to provide industries with the most effective and economical solutions, the major market players are also continually concentrating on R&D. 'Heaven Hill Brands', 'Sazerac Company, Inc.', 'Luxco, Inc.', 'Castle Brands Inc.', 'Tuthilltown Spirits', 'Kirin Holdings Company', 'Limited.', 'Gruppo Campari.', 'Brown-Forman'
Increased International Travel
The whiskey market is dependent on shifting consumer habits, increased disposable income, more readily available whiskey, and rising premium whiskey demand. The flavoured whiskey industry has experienced great growth due to the increased availability of product variants with a wide range of flavours, including apple, cider, citrus, cinnamon, honey, peanut butter, cherry, and many more flavour are demanding by customers.
North America dominated the global American whiskey market, followed by Europe, Asia Pacific, Latin America, and the Middle East and Africa.
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Product ID: SQMIG30F2028