PUBLISHER: Allied Market Research | PRODUCT CODE: 1140160
PUBLISHER: Allied Market Research | PRODUCT CODE: 1140160
The global malt whiskey market was valued at $4.3 billion in 2021, and is projected to reach $6.7 billion by 2031, growing at a CAGR of 4.7% from 2022 to 2031. The alcoholic beverages market is evolving with technological enhancements in the beverages industry, owing to increase in association of alcohols with young and millennial population worldwide. The market offers several alcoholic drinks to consumers such as whiskey, beer, wine, and spirits, of which malt whiskey is gaining significant popularity in the market. Malt whiskey is whiskey made from a fermented mash consisting primarily of malted barley. If the product is made exclusively at a single distillery, it is typically called a single malt whiskey. Although malt whiskey can be made using other malted grains besides barley, those versions are not called malt whiskey without specifying the grain, such as rye malt whiskey or buckwheat malt whiskey. The trend to try different alcoholic drinks has led to increase in popularity of malt whiskey products in the global market.
Premiumization remains to be one of the major factors to drive the alcoholic beverages industry across the globe. Demand for premium cocktails is attributed to trend for mixed drinks and crafted cocktails. Pre-mixed and fresh cocktail manufacturers are shifting from utilizing artificial colorants & flavors and favoring premium ingredients to natural appeal in drinks.
Rise in spirit tourism encourages tourists to indulge and experience local beverages and their distilleries; hence, it is considered as the cornerstone of latest economic growth. Tourism, especially in western countries, has led to rise in revenue of the whiskey industry means of tourist visits to distilleries, wineries, and breweries. Growth in acceptance of spirits consumption by overseas tourists propels the market growth. Countries, such as Scotland, France, and the UK consider the whiskey industry as one of the highest revenue generating sectors in their economies.
According to the WHO global status report on alcohol and health 2018, out of all alcohol-related deaths, about one-third were the result of injuries, such as self-harm, car accidents, and violence; about one-fifth were attributed to digestive disorders; another one-fifth were due to cardiovascular diseases; and rest were caused by mental disorders, cancer, infectious diseases, and other health conditions. The report also estimates that about 46 million women and 237 million men suffer from alcohol-use disorders globally, with a high number in developed regions, especially Europe and North America. Furthermore, growing health consciousness, myriad of health-related diseases, and easy availability of substitute products & non-alcoholic beverages challenge the market expansion.
COVID-19 was declared a pandemic by the WHO in the earlier half of 2020. The outbreak of coronavirus has significantly impacted not only various food & beverages industries but also all stages of the supply chain and value chain of various industries. In addition, the food & beverages industry is currently facing challenges due to halting of operations, which, in turn, has disrupted the economy of numerous countries. The on-trade segment has especially been impacted since bars, restaurants, pubs, and breweries have been shut due to the lockdown and customer visits are entirely restricted. On the contrary, sales through e-commerce have experienced a rise during this phase.
The malt whiskey industry is segmented on the basis of type, distribution channel. By type, the market is divided into scotch whiskey, American whiskey, Irish whiskey and others. On the basis of distribution channel, the market is categorized into on-trade and off-trade. Region wise, the global market is studied across North America, Europe, Asia-Pacific and LAMEA. North America consists of the U.S., Canada, and Mexico. Europe is studied across the UK, Germany, France, Spain, Russia, and rest of Europe. India, China, Japan, Australia, and rest of Asia-Pacific are the countries analyzed under Asia-Pacific. LAMEA includes Brazil, Argentina, the UAE, South Africa, and rest of LAMEA.
Some of the key players profiled in the malt whiskey market analysis include Bacardi Limited Alliance Global Group, Inc., Asahi Group Holdings, Ltd., Diageo plc, Pernod Ricard, Remy Cointreau, Suntory Holdings Limited, The Brown-Forman Corporation, The Edrington Group and William Grant & Sons
Key Benefits For Stakeholders
Key Market Segments
By Type
By Distribution Channel
By Region