According to a report,“Whiskey Market Size, Share & Trends Analysis Report By Product (Malt, Wheat, Rye, Corn, Blended), By Quality (Premium, High-end Premium, Super Premium), By Region, And Segment Forecasts, 2019 – 2025”, published by Grand View Research, Inc., yhe global whiskey market size is expected to reach USD 89.60 billion by 2025. The market is anticipated to witness a CAGR of 6.4% during the forecast period on account of rising product consumption across the globe. Growing product usage in the artistic preparation of alcoholic drinks is the key factor driving the industry. Blended whiskey is likely to remain the most lucrative product segment over the forecast period due to ongoing experimental activities to produce innovative drinks.
Key Takeaways from the report:
Blended whiskey dominated the global market in 2018; while, the malt whiskey segment is projected to ascend at a CAGR of 7.1% over the forecast period
The premium quality segment led the global market in 2018 accounting for a revenue share of 43.7%
Rising preference for high-quality craft whiskey over those provided by established brands owing to the distinct taste and flavors will drive the segment
The whiskey market in North America has grown at a prolific rate over the past few years owing to consumer preference for conventional, locally produced drinks
Pernod Ricard, Hotaling & Co., William Grant & Sons, and Diageo plc are the prominent companies in the global market
Most of these manufacturers provide whiskeys produced from locally-grown grains, such as rye, barley, and wheat. The whiskey distilleries owned by these companies are majorly located in U.S. and Europe owing to the substantial demand
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The market has also experienced a high demand for rye-based and single- and double-malt whiskey rich in new flavors. Use of malt whiskey in cocktail formulation is anticipated to increase the demand further. The segment is predicted to experience a steady CAGR over the next few years. The overall whiskey market has witnessed a shift from branded and premium drinks to super-premium and high-end premium drinks produced by skilled craftsmen using traditional processes.
High-end premium segment is likely to witness considerable growth due to market consolidation and high-entry-barrier of new companies. However, a small customer base and high prices of these products may limit the segment growth. The U.S. whiskey market is proliferating in line with the increasing disposable income levels, which has resulted in rising demand for the premium-quality products, such as corn and malt whiskeys.
Grand View Research has segmented the global whiskey market on the basis of product, quality, and region:
Whiskey Product Outlook (Volume, Million Liters; Revenue, USD Million, 2014 – 2025)
Malt
Wheat
Rye
Corn
Blended
Others
Whiskey Quality Outlook (Volume, Million Liters; Revenue, USD Million, 2014 – 2025)
Premium
High-end Premium
Super Premium
Whiskey Regional Outlook (Volume, Million Liters; Revenue, USD Million, 2014 – 2025)
North America
U.S.
Canada
Europe
U.K.
France
Spain
Asia Pacific
India
China
Japan
Central & South America
Brazil
Middle East & Africa
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About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
For more information: www.grandviewresearch.com
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