As per the report published by Fior Markets, the global whiskey market is expected to grow from USD 5.6 Billion in 2017 to USD 9.7 Billion by 2025 at a CAGR of 7.1% during the forecast period from 2018-2025. European region is dominating the market as Germany, Italy, Spain, and France are the leading countries for whiskey production and consumption in this region. Europe is the largest producer and consumer of whiskey.
Whiskey Market by Product Type (Malt Whisky, Wheat Whisky, Rye Whisky, Corn Whisky, Blended Whisky, Others), Quality Type (Premium, High End Premium, Super Premium), Region, Global Industry Analysis, Market Size, Share, Growth, Trends, and Forecast 2018 to 2025.
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Leadersin the industry Affymetrix, Inc, Agilent Technologies, Inc, Bio-Rad Laboratories, Inc, Bruker Corporation, Clontech, Danaher Corporation, GE Healthcareamong otherswhichare offering greater opportunities and major players are continuously focused on new product developments and venture capital investments to obtain market share.For instance, in January 2019, Dogfish Head finally opt for whiskey production, with the release of their first in-house, distilled and aged malt spirit, Alternate Takes: Volume 1.
The product type segment is classified into malt whisky, wheat whisky, rye whisky, corn whisky, blended whisky, and others. The blended whisky segment dominated the market and valued around USD 1.79 Billion in 2017. Blended Whisky can contain any mixture of different whiskies (malt, grain). These whiskies differ in type, but especially in their origin, i.e. the distillery they come from. The quality type segment is segmented into premium, high-end premium and super premium. Premium segment dominated the market with the highest share of 47.20% in 2017. Premium whiskey is highly demanded because of its improved taste and has captured the largest share of the whiskey market.
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Increase in disposable income and rising affordability of whiskey is a major factor propelling the growth of the market. Changing lifestyles and consumption habits of whiskey is a key driver aiding in the growth of this market Also, consumer preference towards premium whisky is also boosting up the demand for whiskey. But heavy taxation and stringent legal regulations of the governments may obstruct the growth of the market. However, advanced organic whiskey products and growth prospects in different geographies will boost up the product demand in the coming years.
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