Pune, India, Nov. 28, 2023 (GLOBE NEWSWIRE) -- The global scotch whisky market size was valued at USD 30.58 billion in 2022 and is projected to grow from USD 32.72 billion in 2023 to USD 50.23 billion by 2030, exhibiting a CAGR of 6.31% during the forecast period.
Scotch whisky is crafted from cereals, water, and yeast. These ingredients play a fundamental role in its production and flavor. The market is experiencing significant growth due to increasing consumer demand for high-quality and premium whisky products. Consumers are willing to invest in the unique flavors and qualities offered by scotch whisky, which has contributed to the expanding market.
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Leading Players Featured in the Research Report:
Companies leading Scotch Whisky Market are William Grant & Sons (U.K.), Pernod Ricard (France), Diageo Plc (U.K.), Beam Suntory, Inc. (U.S.), Aceo Ltd. (U.K.), La Martiniquaise (France), Edrington (U.K.), Asahi Group Holdings, Ltd. (Japan), Gordon & Macphail (U.K.), Bacardi & Company Limited (U.S.)
Report Scope & Segmentation:
| Report Attributes | Details |
| Forecast Period | 2023-2030 |
| Forecast CAGR | 6.31% |
| 2030 Value Projection | USD 50.23 Billion |
| Scotch Whisky Market Size in 2022 | USD 30.58 Billion |
| Historical Data | 2019-2021 |
| No. of Pages | 136 |
| Report Coverage | Revenue Forecast, Company Profiles, Competitive Landscape, Growth Factors and Latest Trends |
| Segments Covered |
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| Regions Covered |
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| Scotch Whisky Market Growth Drivers | Rising Trend for Organic Whisky to Propel Market Growth |
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COVID-19 Impact:
Disruption in Supply Chain Obstructed Market Expansion
The COVID-19 restrictions led to disruptions in the supply chain, causing delays in food and drink exports, particularly in the U.K. This impacted the industry's ability to deliver its products to consumers and international markets. Another factor that hindered the market growth is the reduction in workforce and operational challenges faced by industry players due to lockdowns and restrictions on large public gatherings. This impacted production and operational efficiency, making it difficult for the industry to meet product demand and expand during the pandemic.
Segmentation:
Blended Scotch Whisky Segment Dominates the Market due to Its Affordability
On the basis of type, the market is divided into single malt scotch whisky, blended scotch whisky, and others. The blended scotch whisky segment dominates the market and holds a significant share. Its cost-effectiveness broadens its consumer base, especially appealing to budget-conscious individuals. This factor maintains its robust market position and fuels segment growth.
Off-Trade Segment to Dominate Due to its Cost Savings Advantage
Based on distribution channel, the market is segmented into off-trade and on-trade. The off-trade segment is touted to maintain its leadership in the coming years. The off-trade channel, which includes convenience stores and supermarkets, often provides products at more competitive prices compared to on-trade channels such as bars and pubs. This cost advantage attracts budget-conscious consumers, contributing to the segment's growth.
In terms of region, the market is categorized into Europe, North America, Asia Pacific, South America, and the Middle East & Africa.
Report Coverage:
The market report offers a detailed analysis, focusing on leading companies, product categories, and key applications. It also provides insights into market trends, industry developments, and factors contributing to market growth.
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Drivers and Restraints:
Rising Trend for Organic Whisky to Propel Market Growth
The surge in interest for organic whisky among health-conscious consumers has sparked a trend toward organic whisky. These products distinguish themselves by using organic barley and malt grains while avoiding flavors, colors, and artificial additives, aligning with evolving consumer preferences.
However, the growing inclination toward more affordable and readily available alcoholic beverages such as wine, spirits, and beer is causing consumers to shift their focus away from the product, hindering the scotch whisky market growth.
Regional Insights:
European Holds a Prominent Share Owing to its Robust Economy and Increased Income
Europe holds the largest scotch whisky market share. The region benefits from a robust economy and rising incomes, which contribute to the growth of the market.
As urbanization continues to accelerate and consumer lifestyles evolve in Singapore, India, China, and Taiwan, there is an increasing inclination toward scotch-whisky. The adoption of Western culture and a desire for premium spirits contribute to the market’s growth.
Competitive Landscape:
Key Players Focusing on Expanding their Product lines to meet Product Demand
The industry comprises a mix of local and international distilleries, with local ones outnumbering their global counterparts. Driven by the surging demand for these products, companies are expanding their global presence by diversifying their product lines.
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Major Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Market Trends
- Key Insights
- Overview of the Whisky Market
- Industry SWOT Analysis
- Supply Chain Analysis
- Regulatory Framework
- Recent Industry Developments - Policies, Partnerships, New Product Launches, and Mergers & Acquisitions
- Qualitative Analysis Related to COVID-19
- Impact of COVID-19 on the Market
- Supply Chain Challenges During Pandemic
- Potential Opportunities due to this Global Crisis
- Global Scotch Whisky Market Analysis, Insights and Forecast, 2019-2030
- Key Findings / Summary
- Market Size Estimates and Forecast
- By Type
- Single Malt Scotch Whisky
- Blended Scotch Whisky
- Others
- By Distribution Channel
- On-trade
- Off-trade
- By Region
- North America
- Europe
- Asia Pacific
- South America
- Middle East & Africa
- By Type
To Be Continued…!
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Key Industry Development:
- June 2023 – An elegant expression of blended Scotch whisky, ARADAY was introduced by Beam Suntory, in major cities including Los Angeles and New York. This launch bolstered the company's diverse product offerings, with plans for global market expansion.
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