USD 89.2 billion
Report ID:
SQMIG30D2006 |
Region:
Global |
Published Date: February, 2025
Pages:
157
|Tables:
92
|Figures:
70
Whiskey Market size was valued at USD 89.2 billion in 2023 and is poised to grow from USD 95.35 billion in 2024 to USD 162.62 billion by 2032, growing at a CAGR of 6.9% during the forecast period (2025-2032).
The whiskey market is experiencing a significant upswing due to multiple factors, notably the shifting lifestyle choices of working professionals.
There's a discernible trend toward increased socializing and weekend gatherings among this demographic, creating a conducive environment for whiskey consumption.
This surge in social engagements has contributed to the market's growth. Additionally, the whiskey market is strongly influenced by the expanding accessibility of affordable options and a rising desire for premium quality variants.
The escalating demand for premium and super-premium whiskeys stands out as a key driver propelling the whiskey market forward in both developing and developed countries. This demand surge spans various socioeconomic segments, illustrating a widespread preference for high-quality whiskey across diverse consumer bases.
Market snapshot - 2025-2032
Global Market Size
USD 89.2 billion
Largest Segment
scotch whiskey
Fastest Growth
scotch whiskey
Growth Rate
6.9% CAGR
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Global Whiskey Market is segmented by Beverage Type, Product Type, Flavor, End User, Sales Channel and region. Based on Beverage Type, the market is segmented into Alcoholic Whiskey and Non- Alcoholic Whiskey. Based on Product Type, the market is segmented into Bourbon Whiskey, Scotch Whiskey, Malted Whiskey, Rye Whiskey, Corn Whiskey, Blended Whiskey and Other Whiskey Types (Wheat, Spirit, etc). Based on Flavor, the market is segmented into Unflavored and Flavored. Based on End User, the market is segmented into HoReCa and Household Retail. Based on Sales Channel, the market is segmented into B2B and B2C. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.
Anticipated over the forecast period is substantial growth within the premium products segment, driven by a heightened demand for traditional drinks. This surge is propelled by the expanding population frequenting clubs and pubs, further fueling the inclination toward these premium offerings. Additionally, there's a discernible shift toward alcoholic beverages characterized by authentic flavors and robust profiles, fostering an increased preference for premium drinks among consumers seeking genuine tastes. This evolving consumer preference for heightened sensory experiences contributes significantly to the escalating demand for premium beverages within the market.
Scotch whiskey, traditionally crafted in Scotland, Canada, and Japan, adheres to stringent regulations: it must be distilled to a maximum of 94.8% alcohol by volume, aged for a minimum of three years and one day within oak casks no larger than 700 liters. This diverse category of Scotch is delineated into five distinct classifications, each boasting unique characteristics.
The production of wheat-based whiskey predominantly occurs in the United States, where it's crafted using a minimum of 51% wheat in its composition. Renowned for its distinctive characteristics, this whiskey type boasts a palatable flavor profile characterized by its saporous nature, offering a delightful combination of lightness and a subtle, gentle sweetness.
The trajectory for malt whiskey indicates substantial growth potential, particularly within markets such as China, Taiwan, and South Korea. This surge in demand is expected to be propelled by various factors, including the allure of exclusive whiskey festivals and clubs that cater to enthusiasts seeking unique experiences. Additionally, the increasing visibility of malt whiskey in specific on-trade venues further fuels consumer interest and consumption.
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In North America, there has been a sharp upsurge in the count of premium product manufacturers, a trend that has gained momentum in recent years. The escalating demand for these products has acted as a magnet, drawing in numerous new companies to enter the market.
The whiskey market in the Asia Pacific region is forecasted to soar, surpassing a value of USD 54.9 billion by 2032, primarily propelled by the increasing purchasing power prevalent in developing nations like India and China. This upward trajectory is fueled by a notable shift in consumer preferences, favoring premium and luxury products, coupled with evolving lifestyles that promote a growing trade in alcoholic beverages across APAC countries.
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Surge in Demand for Blended Whiskey to Fuel Market Growth
Emerging Trend of Non-Alcoholic Beverage Alternatives may Impede the Market Demand
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The competitive environment of the global Whiskey Market is dynamic and characterized by the presence of a mix of well-established brands, emerging players, and niche producers. Innovation is a key competitive factor. Leading brands invest in research and development to introduce new flavors, packaging formats, and health-focused variations to cater to changing consumer preferences. They often set the trends in the industry.
SkyQuest's ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
The global whiskey market analysis reveals a dynamic marketplace with a number of standout trends and difficulties. The growth trajectory of the whiskey market is fueled by an amalgamation of factors, notably the rise in disposable income levels and the evolving preferences and lifestyles of consumers. A pivotal driving force behind this surge is the substantial purchasing power wielded by the millennial demographic, which has emerged as the primary consumer base for this industry. Distillers craft this product utilizing farm-grown grains, skillfully blending a medley of whole spices, herbs, and grains to enhance their distinctive taste and flavor profiles.
Report Metric | Details |
---|---|
Market size value in 2023 | USD 89.2 billion |
Market size value in 2032 | USD 162.62 billion |
Growth Rate | 6.9% |
Base year | 2024 |
Forecast period | 2025-2032 |
Forecast Unit (Value) | USD Billion |
Segments covered |
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Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
Companies covered |
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Customization scope | Free report customization with purchase. Customization includes:-
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Table Of Content
Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
Methodology
For the Whiskey Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Whiskey Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Whiskey Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Whiskey Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Whiskey Market size was valued at USD 88.2 Billion in 2023 and is poised to grow from USD 93.93 Billion in 2024 to USD 151.66 Billion by 2032, growing at a CAGR of 6.5% during the forecast period (2025-2032).
The competitive environment of the global Whiskey Market is dynamic and characterized by the presence of a mix of well-established brands, emerging players, and niche producers. Innovation is a key competitive factor. Leading brands invest in research and development to introduce new flavors, packaging formats, and health-focused variations to cater to changing consumer preferences. They often set the trends in the industry. 'Diageo', 'Pernod Ricard', 'William Grant and Sons', 'Suntory Holdings Ltd', 'Brown Foreman', 'Allied Blenders and Distillers Pvt Ltd', 'Angus Dundee Distillers Plc', 'Bacardi Limited', 'Constellation Brands Inc', 'King Car Group', 'La Martiniquaise', 'the Edrington Group', 'Chivas Brothers', 'Whyte & Mackay'
The anticipated surge in demand for blended whiskey indicates a robust growth trajectory, attributed primarily to the expanding consumer base worldwide. Notably, the super-premium segment is poised for significant growth, particularly within developed countries such as the U.K., France, the U.S., and Canada in the forthcoming years. Several factors contribute to this projected expansion, including the driving forces of "innovation and premiumization" within the industry.
The rising escalating global demand for alcoholic beverages is poised to significantly bolster the growth of the whiskey industry. This surge is attributed to several factors, including shifting consumer preferences, rapid urbanization trends, and the burgeoning purchasing capacity of the middle-class demographic. In recent years, there has been a notable upswing in alcohol consumption, propelled by these influential factors. As an illustration, data sourced from the American Addiction Centers underscores this trend, indicating an annual consumption exceeding 445 billion liters worldwide across categories encompassing wine, beer, and spirits. This substantial consumption volume underscores the robust and expanding market for alcoholic beverages on a global scale.
In North America, there has been a sharp upsurge in the count of premium product manufacturers, a trend that has gained momentum in recent years. The escalating demand for these products has acted as a magnet, drawing in numerous new companies to enter the market.
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