According to the latest report by IMARC Group, the global whiskey market exhibited moderate growth during 2015-2020. Looking forward, IMARC Group expects the market to grow at a CAGR of around 6% during 2021-2026.
Whiskey is a distilled alcoholic beverage which is prepared from the fermented grain mash of corn, rye, wheat and barley. The alcohol content in whiskeys is increased by the process of distillation and is further aged in wooden barrels which are usually made of charred white oak. Some of the most common steps required for preparing good quality whiskey include mashing, fermenting, blending and bottling. Moderate consumption of this beverage is associated with improving the metabolism, preventing stroke, enhancing heart functions, increasing the level of good cholesterol and fighting against cancer cells. Some of the most common types include Irish, Scotch, American, grain and blended whiskeys.
Global Whiskey Market Trends:
Changing lifestyle patterns, in confluence with inflating per capita income and rapid urbanization, have catalyzed the demand for whiskey, particularly in the emerging economies. In addition to this, the growing trend of socializing and corporate gatherings is boosting the sales of alcoholic beverages across the globe. Growing awareness among consumers regarding the benefits of natural products has led them to shift toward organic whiskey variants which are prepared from organic barley and are aged in virgin oak casks. Innovations in the manufacturing of alcoholic drinks and proliferation of online retail stores providing ease of access, hassle-free shopping experience, along with premium brands and a wide variety to choose from, are also creating a positive outlook for the market. Some of the other major factors contributing to the market growth include constant product innovations, the growing popularity of whiskey-based tourism and extensive promotional activities conducted by manufacturers.
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
Global Whiskey Market 2021-2026 Analysis and Segmentation:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Diageo plc, Bacardi Limited, Suntory Beverage & Food Limited, Pernod Ricard, The Brown–Forman Corporation, Asahi Group Holdings Ltd, William Grant & Sons Holdings Ltd, The Edrington Group, Allied Blenders and Distillers Pvt. Ltd., Constellation Brands, and La Martiniquaise.
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The report has segmented the market on the basis of Product Type, Quality, Distribution Channel and Region.
Segmentation by Product Type:
• American Whisky
• Irish Whisky
• Scotch Whisky
• Canadian Whisky
On the basis of the product type, the market has been divided into American whiskey, Irish whiskey, Scotch whiskey, Canadian whiskey and others. Among these, Scotch whiskey is the most preferred segment.
Segmentation by Quality:
• High-End Premium
• Super Premium
Based on the quality, the premium category exhibits a clear dominance in the market. Other major segments include high-end premium and super premium.
Segmentation by Distribution Channel:
• Supermarkets and Hypermarkets
• Discount Stores
• Online Stores
• Restaurants and Bars
• Liquor Stores
On the basis of the distribution channel, the market has been classified into off-trade and on-trade.
Segmentation by Region:
• North America
• Asia Pacific
• Middle East and Africa
• Latin America
On the geographical front, Asia Pacific holds the leading position in the market. Other major regions include Europe, North America, Middle East and Africa, and Latin America
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