7-May-2019: The global whiskey market size
is expected to reach USD 89.60 billion by 2025, according to a new report by
Grand View Research, Inc. 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.
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.
In
depth research report on Whiskey Market
Further
key findings from the study suggest:
· 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
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
Browse
more research reports of this category:
About
Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides syndicated
research reports, customized research reports, and consulting services. To help
clients make informed business decisions, the company offers market
intelligence studies ensuring relevant and fact-based research across a range
of industries including technology, chemicals, materials, healthcare and
energy.
No comments:
Post a Comment