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Whiskey Market To Reach $84 Billion At A CAGR Of 4.35% By 2027, Market Research Future

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Whiskey Market To Reach $84 Billion At A CAGR Of 4.35% By 2027, Market Research Future

April 15
00:02 2022
Whiskey Market To Reach $84 Billion At A CAGR Of 4.35% By 2027, Market Research Future
Whiskey Market Research
The global whiskey market is studied across five major regions: North America, South America, Europe, Asia-Pacific, and the Middle East & Africa.

According to the MRFR reports, the global whiskey market is projected to attain a valuation of over USD 84 Billion by the end of 2027. Furthermore, the market is anticipated to flourish at a healthy CAGR of approximately 4.35% during the review era.

Whiskey refers to a drink containing a high amount of alcohol. It is prepared from fermenting mash grains. The whiskey market has recorded enormous growth in recent years. The market’s growth is primarily driven by the growing global trends like partying and socializing. Furthermore, the growing awareness regarding the benefits of whiskey, such as weight loss and prevention of issues like diabetes, is also anticipated to impact the market’s growth positively. However, the regulations and taxations being implemented by various governments are likely to hinder the market’s growth over the assessment timeframe.

Segment Analysis

The global whiskey market has been fragmented into numerous segments based on distribution channels, packaging type, and region.

Based on type, the whiskey market is split into Scotch whisky, American whiskey, Irish whiskey, Canadian whiskey, and many others.

Based on packaging type, the market is split into cans and bottles.

The global whiskey market is fragmented into foodservice and retail by distribution channel.

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Regional Analysis

The global whiskey market is studied across five major regions: North America, South America, Europe, Asia-Pacific, and the Middle East & Africa.

The MRFR report suggests that the Asia-Pacific region will secure the top position in the global whiskey market over the forecasted era. The regional market’s growth is attributed to the growth in the number of restaurants and bars, particularly in countries such as New Zealand, India, Australia, and China.

The North American region is projected to acquire the second position in the market worldwide over the assessment era. The regional market’s growth is being driven by the rising per capita income of the population—furthermore, the growing demand from countries such as the US, Canada, and Mexico.

The European region is projected to record substantial growth over the review era. The regional market’s growth is being driven by the growing drinking culture and changing lifestyle across the region. In addition, the presence of major markets such as Germany, France, Italy, the UK, and Spain.

The Middle East and African region are projected to exhibit the last growth due to a lack of bars and restaurants and low disposable income.

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Recent Developments

  • January 2022- The maker of O.H. Ingram River Aged, Brown Water Spirits, has announced the launch of its fourth expression, Ingram River Aged Straight Bourbon Whiskey.

 The launch follows the brand’s expansion into Louisiana and the Ingram River Aged Flagship Bourbon launch last August.

  • January 2022- Lochlea Single Malt has announced to launch of its first expression, signifying 245 years since Scotland’s most famous bard moved to Lochlea.
  • January 2022- Tito’s Handmade Vodka announced a distribution partnership with Casa Cuervo across the Mexican market. Additionally, Casa Cuervo is also known to distribute and market a portfolio of other leading spirits in Mexico, including Boodles gin, Kraken rum, Bushmills Irish whiskey, Creyente, and 400 Conejos mezcals, Maestro Dobel tequilas, and Gran Centenario, 1800, along with a variety of ready-to-drink and non-alcoholic products.

Competitive Analysis

The global whiskey market has a strong competitive landscape with a wide number of players spread worldwide. The major market players adopt various strategies to maintain their lead, whereas minor players take active efforts to strengthen their global market footprint. Mergers, acquisitions, and partnerships are some of the popular strategies across the global market.

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The list of leading players in the global whiskey market includes Angus Dundee Distillers Plc. (UK), Bacardi Limited (UK), Brown-Forman (US), Suntory Holdings Ltd. (Japan), La Martiniquaise (France), The Edrington Group (UK), King Car Group (Taiwan), Allied Blenders and Distillers Pvt. Ltd. (India), Pernod Ricard (France), Diageo Plc (UK), Asahi Group Holdings (Japan), William Grant and Sons Holdings Ltd (UK), Constellation Brands, Inc. (the US), Moet Hennessy Louis Vuitton (France), and several others.

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