Market Research Report
Global Whiskey Market 2019-2023
|Published by||TechNavio (Infiniti Research Ltd.)||Product code||336112|
|Published||Content info||136 Pages
Delivery time: 1-2 business days
|Global Whiskey Market 2019-2023|
|Published: August 2, 2019||Content info: 136 Pages||
Whiskey is an alcoholic beverage, which is distilled from malted grains such as rye, corn, or barley. Technavio's whiskey market analysis considers sales from the Scotch whiskey, American whiskey, Canadian whiskey, Irish whiskey, and other segments. The sales are made through off-trade and on-trade distribution channels. Our analysis also considers the sales of whiskey in APAC, Europe, MEA, North America, and South America. In 2018, the Scotch whiskey segment held the highest market share, which is expected to remain prevalent over the forecast period. Factors such as the rising popularity of Scotch whiskey-based tourism, increasing promotional activities by Scotch whiskey brands to attract customers, and presence of many Scotch whiskey distilleries will significantly help the market segment in maintaining its leading position. Also, our global whiskey report has observed market growth factors such as increasing number of product launches, opening of new whiskey distilleries, and growing popularity of whiskey-based tourism. However, product recalls, increasing availability of other alcoholic beverages, and increasing number of campaigns to reduce alcohol consumption may hamper the growth of the whiskey industry over the forecast period.
Vendors are focusing on promoting whiskey-based tourism, which has increased the spending on distilleries. The majority of the visitors to Scottish distilleries are from the US, Germany, India, China, and Japan. Therefore, the growing popularity of whiskey-based tourism will lead to the expansion of the whiskey market at a CAGR of almost 6% during the forecast period.
Vendors are focusing on offering differentiated products to increase customer base and gain a competitive edge. In line with this factor, vendors have started offering connected whiskey bottles, which have been incorporated with IoT and NFC technologies. Vendors can easily upload promotional offers through these bottles, which can be directly accessed by customers through their smartphones. These connected bottles will also allow market vendors to enhance their customer relationship. Therefore, this trend will have a positive impact on the overall market growth during 2019-2023.
For the detailed list of factors that will drive the global whiskey market during the forecast period 2019-2023, view our report.
With the presence of several major players, the global whiskey market is fragmented. Technavio's robust vendor analysis is designed to help clients in improving their market positions, and in line with this, this report provides a detailed analysis of several leading whiskey manufacturers, which include Allied Blenders and Distillers Pvt. Ltd., Bacardi Global Brands Ltd., Brown-Forman Corp., Diageo Plc, Pernod Ricard SA, and Suntory Holdings Ltd.
Also, the whiskey market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.