PUBLISHER: Fortune Business Insights Pvt. Ltd. | PRODUCT CODE: 1882977
PUBLISHER: Fortune Business Insights Pvt. Ltd. | PRODUCT CODE: 1882977
The global single malt scotch whisky market continues to expand as premiumization and consumer preference for artisanal alcoholic beverages rise worldwide. According to the report, the market was valued at USD 8.59 billion in 2024, is projected to reach USD 9.22 billion in 2025, and is expected to climb to USD 15.60 billion by 2032, reflecting a CAGR of 7.80% during the forecast period. Asia Pacific dominated the global market in 2024 with a 48.54% share, driven by rapid urbanization, rising disposable incomes, and increasing consumption of premium spirits such as single malt scotch whisky.
Single malt scotch whisky, produced at a single distillery from malted barley and water, remains highly favored for its craftsmanship, heritage, and flavor diversity. Expanding consumer interest in unique taste profiles and innovative cask finishes continues to fuel global demand. In February 2025, Amrut Distillers launched "Expedition," a 15-year single malt whisky with unique packaging and new authentication features, highlighting the industry-wide push toward premium, innovative products.
Market Dynamics
Market Drivers
The premiumization trend across global alcoholic beverages strongly drives market growth. Consumers in developing and emerging economies are increasingly shifting from low-cost, locally brewed drinks to imported, high-quality premium spirits. According to DISCUS, 82% of spirits revenue in 2021 came from high-end and super-premium brands, showing the growing emphasis on quality over quantity. Cocktail culture in urban hubs and rising brand consciousness among millennials and Gen Z further boost demand for single malt scotch whisky.
Market Restraints
Health concerns related to alcohol consumption present a restraint on the market. The World Health Organization recently reported 2.6 million annual deaths linked to alcohol, reflecting substantial risks such as liver disease, heart disorders, mental health complications, and compromised immunity. These rising health warnings could limit consumption, especially among health-conscious demographics.
Market Opportunities
Growing experimentation with cask finishing, grain varieties, and distillation techniques is creating new opportunities. Distillers are innovating with bourbon barrels, wine casks, indigenous grains, spices, and botanicals to produce distinctive flavor profiles. This trend is expanding the premium segment and attracting new customer groups seeking experience-driven products.
Market Trends
A major trend is the rising social drinking culture among millennials and Gen Z. Nightclubs, bars, and pubs serve as key consumption hubs where young consumers encounter new whisky brands. Increased holiday gatherings, social functions, and dining-out habits also push demand. For millennials, alcohol-centric socializing has become a lasting lifestyle element, significantly supporting the growth of single malt whisky across global markets.
By Distribution Channel
The off-trade segment held the dominant share in 2024, driven by supermarkets, hypermarkets, liquor stores, and online platforms. These channels offer better pricing and greater convenience, making them highly attractive for consumers. Off-trade spirit sales in the U.S. grew 27% in 2020, largely due to at-home consumption trends strengthened by e-commerce.
The on-trade segment (pubs, bars, restaurants) will grow steadily, as these environments remain essential for product discovery, mixology experiences, and premium tastings.
Asia Pacific
Asia Pacific led the market with USD 4.17 billion in 2024. Demand is rising in India and China due to growing middle-class populations and increased Scotch whisky imports. India alone imported 219 million bottles of Scotch, up 60% from 2021, showing rapid expansion. In November 2024, Diageo opened the YunTuo single malt distillery in China to strengthen regional leadership.
North America
North America remains the second-largest market, supported by strong interest in craft spirits and cocktail culture. U.S. consumers increasingly value authenticity and craftsmanship. New releases, such as Longmorn Distillery's 18-year-old and 22-year-old single malts in 2024, appeal to younger premium drinkers.
Europe
Europe maintains a leading position due to cultural affinity and longstanding whisky traditions. Scotland exported USD 7.02 billion worth of Scotch in 2022, marking a 37% year-on-year increase. Whisky tourism and premium brand experiences also contribute significantly to market growth.
South America & Middle East/Africa
South America-particularly Brazil-is seeing rising imports, with 93 million bottles imported in 2022, up 14% from the previous year.
The Middle East & Africa market is driven by premiumization trends, rising tourism, and diaspora communities supporting high-end whisky demand.
Competitive Landscape
The market is fragmented with leading players such as Diageo plc, Pernod Ricard, Bacardi, Asahi Group Holdings, and Suntory Group. Innovation is central to competition. Recent product launches include Rampur Barrel Blush (2024) from Radico Khaitan and Azuma Makoto 23 Years Old from Glenmorangie. Strategic acquisitions, like Diageo's 2022 purchase of Balcones Distilling, further strengthen market presence.
Segmentation By Distribution Channel
By Region