Whiskey Market to Surpass Other Alcoholic Drinks Sales

Whiskey is becoming popular around the world, driving the bulk of volume consumption growth through 2022. As per ESOMAR-certified market research, the blended malt Scotch whisky is leading the market in terms of product type, with consumption increasing at a whopping pace. The rise in creative, innovative cocktails and the growing “cocktail culture” in the U.S. have helped in surging sales of whiskey.

Whisky is currently produced in at least 25 countries. Many countries that were not even on a whisky lover’s radar ten years ago are now big whisky producers. Germany, for example, is a major producer of whisky and even has its own whiskey trail with distilleries.

This international rise shows no signs of slowing down, and the whisky selections offered at a whisky bar demonstrate the explosion of whisky-producing countries in only the last five years. There appears to be an ever-increasing number of new brands launching around the world.

“The availability of various brands of whiskey under one roof in supermarkets and hypermarkets gives customers more options. This is helping the global whiskey market grow at an impressive pace. Over the projected term, the customer-centric strategy and improved shopping experience given by hypermarkets and supermarkets by allocating particular whiskey product areas will continue to draw consumer attention and drive the market,” said the research analyst.

Whiskey Market Key Takeaways

• Global whiskey market to surpass US$ 80.9 Bn in 2022.
• Demand in the U.S. to grow as the number of clubs and restaurants increases, spurring sales in North America.
• Non-alcoholic beverage sales to grow as the focus on wellness increases among millennials.
• Sales of flavoured whiskey to pick up pace globally.

Untapped market- Giving better growth opportunity

• Companies are focusing on reaching a wider consumer base in various untapped markets in order to grow sales. As per the study, several companies will aim at strengthening their presence in the Middle East.
• There are various regions where premium alcohol is exported from other countries. This leads to the high cost of premium products, hence affecting the sales in these regions. Companies are focusing on expansions to manufacture their premium products in the region itself, leading to comparatively lower costs.
• Low penetration in a few regions, coupled with high costs of premium exported products, is creating an opportunity for manufacturers to expand in such regions.

Who is winning?

The right product labelling goes a long way in cementing brand trust in the minds of consumers and the global clean label movement is one-way F&B manufacturers can build this trust. Worldwide F&B regulations mandate clean label packaging with clear information on the ingredients, sourcing, and processing methods to create more transparency across the food chain.

Clean labelling is also about the resultant environmental impact of food production and consumers are showing keen interest in analyzing if the food they consume has been sourced and produced in an eco-friendly manner.

Some of the leading companies offering whiskey are Diageo, Chivas Brothers, William Grant & Sons, Bacardi, La Martiniquaise, The Edrington Group, Belvedere, Beam Suntory, Whyte & Mackay, Inver House, LVMH, Loch Lomond, and Others.

These insights are based on a report on Whiskey Market by Future Market Insights.