Whisky Market Opportunities And Strategies 2024-2033 – Size, Growth Analysis, Outlook, Overview

The Whisky Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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According to The Business Research Company’s Whisky Global Market Report 2024, The whisky market size has grown steadily in recent years. It will grow from $58.97 billion in 2023 to $61.51 billion in 2024 at a compound annual growth rate (CAGR) of 4.3%.  The  growth in the historic period can be attributed to cultural and lifestyle trends, globalization and international trade, premiumization and luxury branding, craftsmanship and tradition, innovation in flavors and blends..

The whisky market size is expected to see steadily grown in the next few years. It will grow to $71.85 billion in 2028 at a compound annual growth rate (CAGR) of 4.0%.  The growth in the forecast period can be attributed to emerging markets and rising middle class, e-commerce and digital marketing, exploration of new ingredients, environmental sustainability practices, rising interest in collectibles and limited editions.. Major trends in the forecast period include blurred lines with other spirit categories, limited edition releases and collectibles, cask strength and non-chill filtering preferences, e-commerce and direct-to-consumer sales, cultural and heritage storytelling..

The increasing whisky consumption is expected to propel the growth of the whisky market going forward. Whisky has been consumed for its health benefits, rich flavor, and cultural significance. Whisky has numerous health benefits, including lowering the risk of heart disease, stroke, and cancer, and it also contains antioxidants that aid in the fight against free radicals. Drinking whisky can also improve cognitive function, aid digestion, and reduce stress. Furthermore, whisky is low in carbohydrates and can be an excellent choice for those on a low-carb diet. For instance, in March 2023, according to a report by the Distilled Spirits Council of the United States, a US-based national trade association, American Whisky exports increased by 32% to $1.28 billion in 2021. Therefore, increasing whisky consumption drives the whiskey market.

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The whisky market covered in this report is segmented –

1) By Type: Alcoholic Whisky, Non- Alcoholic Whisky

2) By Flavour: Unflavored, Flavored

3) By Sales Channel: B2B (business-to-business), B2C (business-to-consumer)

Top Major Players:
Diageo PLC
Bacardi Limited
William Grant & Sons Ltd.
The Edrington Group Limited
Beam Suntory Inc.

North America was the largest region in the whisky market in 2023.

Major companies operating in whole life insurance are focusing on incorporating advanced technologies for simplified operations and strengthening their market position. For instance, in December 2022, Modern Life Insurance Group Inc., a US-based insurance group, announced the launch of its latest technology platform, where life insurance advisors can take advantage of a variety of cutting-edge tools and solutions from the new stack. These include the ability to manage all client and brokerage needs in one location, enhanced customer involvement, entirely digital applications, and comparison and pricing capabilities.

The whisky market report table of contents includes:

1. Executive Summary
2. Whisky Market Characteristics
3. Whisky Market Trends And Strategies
4. Whisky Market – Macro Economic Scenario
5. Global Whisky Market Size and Growth
…
31. Global Whisky Market Competitive Benchmarking
32. Global Whisky Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Whisky Market
34. Whisky Market Future Outlook and Potential Analysis
35. Appendix

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