Whiskey Market Report 2024 (Global Edition)

Global Whiskey Market Report 2024 Market Size Split by Type (American Whisky, Irish Whisky, Scotch Whisky, Canadian Whisky, Others), by Application (On-Trade, Off-Trade)

Whiskey Market Report Description

We have various report editions of Whiskey Market, hence please contact our sales team and author directly to obtain/purchase a desired Edition eg, Global Edition, Regional Edition, Country Specific Report Edition, Company Profiles, Forecast Edition, etc. Request for your Free Sample PDF/Online Access.

Whiskey Market Insights Video

Competitive Landscape of the Whiskey Market

The competitive landscape of the whiskey market is characterized by fierce rivalry among established players vying for consumer attention and loyalty. Major global distilleries, including Scotch, American, and Irish whiskey producers, engage in strategic maneuvers to expand market share. 

• March 2022: Diageo India introduces Godawan Single Malt, a locally produced artisanal whisky. The company has expanded its portfolio in the nation. Godawan is initially offered in Rajasthan and Delhi, and the company later announces plans to make the product available throughout the country.

(Source:in.thebar.com/articles/why-godawan-single-malt-whisky-makes-for-the-perfect-gift-this-festive-season#:~:text=One%20such%20product%20is%20Diageo,bird%E2%80%94The%20Great%20Indian%20Bustard.)

Top Companies Market Share in Whiskey Industry: (In no particular order of Rank)

• Diageo
• Chivas Brothers
• William Grant & Sons
• Bacardi
• La Martiniquaise
• The Edrington Group
• Belvedere
• Beam Suntory
• Whyte & Mackay
• Inver House
• LVMH
• Loch Lomond
• Other
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*List of Second Tier Companies, List of Third Tier/ Start-up Companies (Inquire with sales executive) Request Any Company Profile for Preview Purpose OR Data Validation!

If any Company(ies) of your interest has/have not been disclosed in the above list then please let us know the same so that we will check the data availability in our database and provide you the confirmation or include it in the final deliverables.

Asia-Pacific takes the lead in whiskey, commanding a formidable 35% market share and boasting a substantial market size of USD 29.93 billion in 2023.

According to Cognitive Market Research, Asia-Pacific takes the lead in whiskey, commanding a formidable 35% market share and boasting a substantial market size of USD 29.93 billion in 2023. The region's ascendancy is fueled by factors such as a burgeoning middle class, evolving consumer preferences, and a growing culture of premiumization. Within the Asia-Pacific tapestry, diverse markets, notably China, India, and Japan, contribute distinct consumption patterns, reflecting a mix of cultural influences and economic dynamics. A nuanced segmentation analysis unravels varied whiskey preferences, from the sophistication of single malts to the accessibility of blended varieties. Distillers navigating this landscape must tailor strategies to align with diverse tastes. As the largest region shaping the global whiskey landscape, Asia-Pacific offers a focal point for strategic decision-making, presenting ample opportunities for market expansion and industry innovation.

North America emerges as the fastest-growing region in the whiskey market, commanding a robust 30% market share with a substantial market size of USD 3.69 billion in 2023. A rich whiskey heritage, a discerning consumer base, and a surge in craft distilleries underpin the region's prominence. An overview reveals a vibrant landscape marked by diverse whiskey styles, from Bourbon in the United States to Rye in Canada. In-depth regional analysis showcases the influence of cultural nuances on consumption patterns, driving the market's dynamism. A segmentation analysis underscores the significance of premium and craft offerings in North America. The region's accelerated growth presents lucrative opportunities for industry players, emphasizing the need for tailored strategies to cater to evolving consumer tastes and preferences.

The current report Scope analyzes Whiskey Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com

• North America (United States, Canada, Mexico)
• Europe (United Kingdom, France, Germany, Italy, Russia, Spain, Sweden, Denmark, Netherlands, Switzerland, Belgium)
• Asia-Pacific (China, Japan, Korea, India, Australia, Philippines, Singapore, Malaysia, Thailand, Indonesia, Rest of APAC)
• South America (Brazil, Argentina, Colombia, Peru, Chile, Rest of South America)
• Middle East and Africa (Saudi Arabia, Turkey, Nigeria, UAE, Egypt, South Africa, GCC Countries, Rest of MEA)

The above graph is for illustrative purposes only.

North America Whiskey Market

According to Cognitive Market Research, North America emerges as the fastest-growing region in the whiskey market, commanding a robust 30% market share with a substantial market size of USD 3.69 billion in 2023. A rich whiskey heritage, a discerning consumer base, and a surge in craft distilleries underpin the region's prominence. An overview reveals a vibrant landscape marked by diverse whiskey styles, from Bourbon in the United States to Rye in Canada. In-depth regional analysis showcases the influence of cultural nuances on consumption patterns, driving the market's dynamism. A segmentation analysis underscores the significance of premium and craft offerings in North America. The region's accelerated growth presents lucrative opportunities for industry players, emphasizing the need for tailored strategies to cater to evolving consumer tastes and preferences.

Europe Whiskey Market

According to Cognitive Market Research, In the European whiskey market, renowned for its rich heritage and diverse whiskey traditions, the region commands a substantial 28% market share, with a market size of 3.44 USD billion anticipated in 2023. Europe's whiskey landscape is a tapestry of distinct segments, encompassing Scotch, Irish, and other regional varieties. The market size in this region is propelled by a deep-rooted appreciation for premium and aged expressions, with consumers valuing craftsmanship and authenticity. As one of the significant players globally, Europe's whiskey market showcases a blend of historic distilleries and emerging craft producers. Regional analysis reveals varying preferences, from peaty Scotch whiskies to smoother Irish blends, contributing to the dynamic and evolving nature of the market. In conclusion, Europe stands as a cornerstone in the global whiskey industry, setting trends and shaping the market's trajectory with its unique offerings and discerning consumer base. 

Asia Pacific Whiskey Market

According to Cognitive Market Research, Asia-Pacific takes the lead in whiskey, commanding a formidable 35% market share and boasting a substantial market size of USD 29.93 billion in 2023. The region's ascendancy is fueled by factors such as a burgeoning middle class, evolving consumer preferences, and a growing culture of premiumization. Within the Asia-Pacific tapestry, diverse markets, notably China, India, and Japan, contribute distinct consumption patterns, reflecting a mix of cultural influences and economic dynamics. A nuanced segmentation analysis unravels varied whiskey preferences, from the sophistication of single malts to the accessibility of blended varieties. Distillers navigating this landscape must tailor strategies to align with diverse tastes. As the largest region shaping the global whiskey landscape, Asia-Pacific offers a focal point for strategic decision-making, presenting ample opportunities for market expansion and industry innovation.

South America Whiskey Market

According to Cognitive Market Research,  In the Latin American whiskey market, renowned for its vibrant cultural diversity and evolving taste preferences, the region commands a noteworthy 5% market share, with a market size of 0.62 USD billion projected in 2023. Latin America's whiskey segment is marked by a growing appreciation for premium and international whiskey brands, reflecting a shift in consumer preferences towards sophisticated and diverse spirits. As a region with a rich history of spirits consumption, Latin America's whiskey market showcases a blend of traditional favorites and an emerging market for craft and artisanal products. Regional analysis underscores the region's unique palate, with a preference for traditional Scotch and Bourbon styles. In conclusion, Latin America emerges as a dynamic player in the global whiskey landscape, offering a unique blend of heritage and contemporary tastes, contributing to the market's global evolution.

Middle East and Africa Whiskey Market

According to Cognitive Market Research, In the dynamic whiskey market of the Middle East and Africa (MEA), the region commands a modest yet notable 2.00% market share, projecting a market size of 0.25 USD billion in 2023. Recognized for its diverse cultural tapestry and a growing affinity for premium spirits, the MEA whiskey segment reflects a unique blend of tradition and modernity. With a distinct palate that appreciates both local and international whiskey offerings, the region's market showcases a penchant for rich and complex flavor profiles. In the context of regional analysis, the Middle East and Africa exhibit a rising trend in whiskey consumption, fueled by an expanding middle class and an increasing interest in luxury beverages. In conclusion, MEA emerges as a promising frontier in the global whiskey market, embodying a fusion of cultural heritage and evolving consumer preferences

Whiskey Market Analysis

Whiskey Type Segment Analysis

According to Cognitive Market Research, scotch whisky stands out as the dominant category. Renowned for its rich heritage, distinctive flavour profiles, and regional authenticity, scotch whisky has secured a prominent position among consumers globally. The category's dominance is fueled by the appreciation for traditional craftsmanship, unique production methods, and the geographical indications associated with Scotch whisky production regions. The connoisseurship culture surrounding Scotch Whisky and its diverse range from single malt to blended variants contribute significantly to its dominant status in the whiskey market.

American whisky emerges as the fastest-growing category. Fueled by the popularity of bourbon and Tennessee whiskey, American Whisky experiences a surge in demand, both domestically and internationally. The category's growth is attributed to factors such as the rising global trend of craft distilling, innovative product launches, and the versatility of American Whisky in cocktails. Consumers are increasingly drawn to the bold and diverse flavor profiles offered by American whisky, contributing to its rapid expansion and making it the fastest-growing segment in the dynamic whiskey market.

• American Whisky
• Irish Whisky
• Scotch Whisky
• Canadian Whisky
• Others

The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of Whiskey Industry. Request a Free Sample PDF!

Whiskey Application Segment Analysis

According to Cognitive Market Research, the on-trade segment emerges as the dominant category. On-Trade refers to the sale of whiskey within establishments such as bars, restaurants, and pubs, where consumers can experience the product in a social and interactive setting. The dominance of On-Trade is attributed to the immersive and experiential nature of whiskey consumption, where patrons often seek diverse selections and expert recommendations. The ambiance and expertise offered in On-Trade locations enhance customer engagement, making it a preferred choice for whiskey enthusiasts to explore premium and specialty variants, thereby driving the segment's dominance.

The off-trade segment demonstrates the fastest growth in the whiskey market. The Off-Trade category involves retail channels such as supermarkets, liquor stores, and online platforms, allowing consumers to purchase whiskey for at-home consumption. The shift towards convenience, especially in the wake of changing consumer behaviours and the impact of global events like the COVID-19 pandemic, has accelerated the growth of Off-Trade. Consumers increasingly opt for the convenience of buying whiskey for personal use, reflecting a rising trend of home entertainment and a desire for premium at-home drinking experiences. As a result, the Off-Trade segment is experiencing rapid expansion, driven by changing lifestyle preferences and the demand for diverse whiskey options in retail settings.

• On-Trade
• Off-Trade

The above Graph is for representation purposes only. This chart does not depict actual Market share.

Author's Detail

Nisha Deore

Research Analyst at Cognitive Market Research

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I am a well-organized, conscientious, and professional Research Analyst with two plus years of experience. In my current role, I conduct in-depth secondary research, data mining, competitive analysis, DRO's, PR, and Collateral writing. Whilst I enjoy working as part of a team, researching information, analyzing data, and producing results that help my organization to achieve its commercial and financial objectives.

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