Whiskey Market Analysis 2019 | Growth Opportunities, Business Strategy, Key Driven Factors, Industry Highlights by Forecast to 2022
Whiskey Market Global Information by Source (Malt, Grain, Blended, and others), Type (Bourbon/Rye, Scotch, Cask Finish, and others), Origin (U.S., Canadian, Irish, Japanese and others), Process (Pot Still Distillation, Column Still Distillation and Others) and Region – Forecast to 2022
pune, India – February 26, 2019 /MarketersMedia/ —
Market Overview:
The global Whiskey market has always been a growing space mainly due to the augmenting demand for premium whiskey, worldwide. The close association with premium brands among wealthier consumers has encouraged their sales stating it as luxury drink and a must for every celebration and occasion. Moreover, the improving macro-economic conditions, worldwide, that have been improving the standard of living are contributing heavily towards revenue growth in the market, escalating the market on the furthered height.
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Additional factors helping the market to sustain the high growth for the premium brand whiskeys, globally include the rapid innovations in products that have proved to be profitable and effort by trade association DISCUS and spirit manufacturers into pushing the market. Moreover, factors such as the changing lifestyles, increasing purchasing power which leads to change in preferences are propelling the market growth. Furthermore, the increased demand for locally produced whiskeys has gone up due to the change in such preferences that are driving the global Whisky market. Substantial investments made in the R&D to bring about betterment in the product and innovative packaging solutions that are not only attractive but also reflect the exclusivity and luxury nature of the whiskey are fostering the growth of the market to an extent.
Competitive Analysis:
Highly competitive, the whiskey market appears to be fragmented owing to the presence of numerous well-established players having an international and global presence. Mergers & acquisitions, brand reinforcement, and innovations remain the key strategies adopted by the leading players of the market.
The growth prospect demonstrated by the market attracts many enthusiasts who would want to get into making whiskey. However, due to the long time, the business takes to generate a return on your investment makes it one of the more difficult industries to penetrate. Moreover, the time that whiskey takes to age, doesn’t lend itself to making quick money. Resultantly, banks rarely lend money to startup or even to existing distilleries. However, the market still witnesses fierce competition due to the product & service extensions and product innovations.
These players identify the need for world-class distillation techniques and invest accordingly to develop state-of-the-art facilities to meet the consumers’ expectations. They invest heavily in R&D to enhance quality and global expansion. They compete based on quality, price, reputation, service, and distribution.
Key players leading the global whiskey market include Beam Suntory (U.S.), Allied Blenders and Distillers Pvt. Ltd (India), Brown-Forman (U.S.), Diageo (U.K.), Pernod Ricard (France), Bacardi (Bermuda), Heaven Hill Distilleries (U.S.), Distell Group Limited (South Africa), Constellation Brands, Inc. (U.S), and Radico Khaitan (India) among others.
Industry/Innovation/Related News:
February 20, 2019 —- Copeland Spirits Ltd. (Ireland/ the UK), a premium handcrafted Gin maker announced the signing a 125-year lease on a site for its new distillery and visitor center to fulfill its ambition to move into new categories, including whiskey.
The brand has made plans for whiskey as the whiskey category offers more than enough potential for a new player and its distillery will bring something fresh, energetic and imaginative to it. Following recent planning application approval, Copeland will move its operations from its current Saintfield premises to the harbor town of Donaghadee.
February 18, 2019 —- Gortinore Distillery Limited or Gortinore Distillers & Co. (Ireland/ the UK), a leading global manufacturer of distilled potable alcoholic beverages launched its new brand Natterjack Irish whiskey which is set to create a stir across the globe, being the first whiskey of its kind available on the market.
Carefully crafted using both Irish and American techniques, Natterjack is a unique blend that is triple distilled. The mixture of techniques produces a unique Irish whiskey with a smooth, almost creamy palate of orange, spice, orange zest, cedar, and notes of tobacco, excellent to enjoy neat and versatile enough to make a fantastic cocktail.
Market Segments:
For enhanced understanding, the report has been segmented into three key dynamics.
By Type : Silver, Copper, and Zinc Oxide among others.
By Application: Sweeteners, Processed, and Ready to eat food among others.
By Regions: Asia Pacific, North America, Europe, and the Rest-of-the-World.
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Regional Analysis:
Continuing with its dominance, the whiskey market in the European region is expected to surge, witnessing the high consumption over the forecast period. Growing further, over its previous growth records by 2022 the region is expected to create a more significant revenue pocket in the global market. The presence of prime production destinations such as Scotland and Ireland in the region is a key driving force behind the growth of the market.
Besides, countries such as the UK, France, Italy, and Germany account for the major contributors to the growth owing to the presence of a large and the well-established market player. Moreover, the increasing number of developments of the new distillery, where a raft of new companies have opened in recent years alongside the huge investments on the new distillery including brand, stock, and facilities drive the growth of the regional market.
The North American region holds the second-largest share in the global whiskey market, witnessing a huge demand and import. The presence of a large number of consumers of whiskey along with the presence of some notable key players drives the growth of the regional market. The growing market for premium spirits in the region is a key driving force behind the market growth in the region.
American Whisky is in a great position to take advantage of its unrivaled reputation for quality, authenticity, and provenance. North America is a substantially large region for Scotch exports, accounting for an overwhelming percent of the global value and global volume. The US and Canada are among the leading export markets for the whiskey. These figures that underscore the strength of the Scotch Whisky category, have continued to grow despite the challenges posed by Brexit and by tensions in the global trading system.
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