Whiskey Market, Opportunity, Growth Drivers, Industry Trend Analysis and Forecast, 2024-2032

Description

Whiskey Market size will grow at a 6.9% CAGR during 2024-2032, driven by the growth of e-commerce and online sales channels. According to Hostinger, by the end of 2023, approximately 2.64 billion people were shopping online, representing about 33% of the global population, which stands at around 8 billion as of January 2024. This reflects a 5% increase in online shoppers compared to 2022. E-commerce platforms offer an extensive range of whiskey products, from mainstream brands to niche, craft varieties, making it easier for consumers to explore and purchase their preferred options from the comfort of their homes. The convenience of home delivery, coupled with the ability to compare prices and read reviews, has made online shopping a preference for whiskey buyers.

Whiskey, with its rich heritage and variety of flavors, has become a favored choice for gifting, particularly during festive seasons, special occasions, and corporate events. The availability of premium, limited-edition, and beautifully packaged whiskey options appeals to gift buyers seeking sophisticated and memorable presents. Additionally, the personalization of whiskey bottles and gift sets has added a unique touch, making whiskey an attractive option for those looking to give a distinctive and high-quality gift.

The whiskey industry is classified based on product, distribution channel, and region.

The Irish whiskey segment will gain significant traction through 2032, owing to its smooth, distinct flavor profile. There is a renewed interest in premium spirits, with consumers increasingly seeking authentic and high-quality whiskey experiences. The proliferation of craft distilleries and innovative marketing strategies highlighting the rich heritage and tradition of Irish whiskey production is fueling the product demand. Moreover, its unique triple-distillation process, which results in a lighter, smoother taste, has made it a favorite choice in the global consumer base.

The off-trade segment will witness decent growth through 2032, owing to its convenience and wide product selection. The rise of e-commerce has particularly amplified the reach of off-trade channels, enabling consumers to access a broad range of whiskey brands and variants from the comfort of their homes. This shift in consumer purchasing behavior, accelerated by the global pandemic, has led to a significant uptick in whiskey sales through off-trade channels. Supermarkets and hypermarkets have also capitalized on this trend by expanding their premium and craft whiskey offerings, catering to the growing demand for diverse and high-quality products.

Europe whiskey industry will grow at a steady pace through 2032, as the European market has a long-standing tradition of whiskey consumption. The rich whiskey heritage, combined with a growing appreciation for premium and craft spirits, drive steady growth in whiskey sales. Additionally, a surge in the popularity of whiskey festivals and events, which have helped to increase consumer engagement and drive interest in different whiskey varieties, is shaping the regional market outlook.

Product Code: 3322

Chapter 1 Methodology and Scope

1.1 Market scope and definition
1.2 Base estimates and calculations
1.3 Forecast calculation
1.4 Data sources
- 1.4.1 Primary
- 1.4.2 Data mining sources
  - 1.4.2.1 Paid sources
  - 1.4.2.2 Public sources

Chapter 2 Executive Summary

2.1 Industry 360° synopsis

Chapter 3 Industry Insights

3.1 Industry ecosystem analysis
- 3.1.1 Value chain
- 3.1.2 Key manufacturers
- 3.1.3 Go to market routes
- 3.1.4 Key distributors
  - 3.1.4.1 New distribution channels
- 3.1.5 Profit margins across the industry
3.2 Industry impact forces
- 3.2.1 Growth drivers
  - 3.2.1.1 Increasing global demand for premium and craft whiskey
  - 3.2.1.2 Rising disposable incomes in emerging markets
  - 3.2.1.3 Expansion of e-commerce platforms for alcohol sales
- 3.2.2 Market challenges
  - 3.2.2.1 Stringent government regulations and taxation policies
  - 3.2.2.2 Fluctuations in raw material prices
- 3.2.3 Market opportunities
  - 3.2.3.1 New markets/applications
  - 3.2.3.2 Growth potential analysis
3.3 Raw material landscape
- 3.3.1 Manufacturing trends
  - 3.3.1.1 Technology evolution
  - 3.3.1.2 Sustainable manufacturing
    - 3.3.1.2.1 Green practices
    - 3.3.1.2.2 Decarbonization
- 3.3.2 New raw materials
- 3.3.3 Trends in raw material pricing (Ton/ USD)
  - 3.3.3.1 North America
  - 3.3.3.2 Europe
  - 3.3.3.3 Asia Pacific
  - 3.3.3.4 Latin America
  - 3.3.3.5 MEA
3.4 Regulations and market impact
3.5 Porter's analysis
3.6 PESTEL analysis

Chapter 4 Competitive Landscape, 2023

4.1 Company market share analysis
4.2 Competitive positioning matrix
4.3 Strategic outlook matrix

Chapter 5 Market Size and Forecast, By Product, 2021-2032 (USD Million, Million Liters)

5.1 Key trends
5.2 American whiskey
5.3 Irish whiskey
5.4 Canadian whiskey
5.5 Scotch whiskey
5.6 Other whiskey

Chapter 6 Market Size and Forecast, By Distribution channel, 2021-2032 (USD Million, Million Liters)

6.1 Key trends
6.2 On-Trade
6.3 Off-Trade

Chapter 7 Market Size and Forecast, By Region, 2021-2032 (USD Million, Million Liters)

7.1 Key trends
7.2 North America
- 7.2.1 U.S.
- 7.2.2 Canada
7.3 Europe
- 7.3.1 Germany
- 7.3.2 UK
- 7.3.3 France
- 7.3.4 Italy
- 7.3.5 Spain
- 7.3.6 Russia
- 7.3.7 Rest of Europe
7.4 Asia Pacific
- 7.4.1 China
- 7.4.2 India
- 7.4.3 Japan
- 7.4.4 South Korea
- 7.4.5 Australia
- 7.4.6 Malaysia
- 7.4.7 Indonesia
- 7.4.8 Rest of Asia Pacific
7.5 Latin America
- 7.5.1 Brazil
- 7.5.2 Mexico
- 7.5.3 Argentina
- 7.5.4 Rest of Latin America
7.6 MEA
- 7.6.1 Saudi Arabia
- 7.6.2 UAE
- 7.6.3 South Africa
- 7.6.4 Rest of MEA

Chapter 8 Company Profiles

8.1 Angus Dundee Distillers Plc.
8.2 Diageo
8.3 Constellation Brands, Inc.
8.4 Pernod Ricard
8.5 La Martiniquaise
8.6 William Grant and Sons
8.7 The Edrington Group
8.8 Suntory Holdings Ltd.
8.9 Brown Foreman
8.10 Whyte and Mackay
8.11 Allied Blenders and Distilleries Pvt. Ltd.
8.12 Bacardi Limited
8.13 King Car Group (Kavalan Distillery)
8.14 Chivas Brothers