London, Oct. 11, 2019 (GLOBE NEWSWIRE) -- According to a new market research report titled, “American Whiskey Market by Type (Bourbon, Tennessee, Rye Whiskey), Geography (U.S., Canada, Mexico, U.K., Germany, France, Spain, Russia, Poland, Italy, Austria, Switzerland, Australia, Japan, China, India, Brazil, Argentina, Chile) - Forecast to 2025”, published by Meticulous Research®, the American whiskey market is expected to grow at a CAGR of 9.9% from 2019 to reach $16.8 billion by 2025.
Rapid urbanization is one of the key factors pushing the demand for American whiskey, especially in developing countries such as India. Purchasing power coupled with a transition in the lifestyle of the consumers, especially the young population has shown a positive impact on the growth of the American whiskey market. The young population is more inclined towards the consumption of expensive alcoholic beverages and whiskey is the preferred choice among the other types of beverages. Strengthening economic condition of the underdeveloped and developing countries along with the expansion by the manufacturers operating in this industry is expected to provide substantial opportunities for the growth of the American whiskey market in the next few years.
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The American whiskey market study presents historical market data in terms of value and volume (2017, and 2018), estimated current data (2019), and forecasts for 2025 - by product type, and geography. The study also evaluates industry competitors and analyzes the market at a regional and country level.
Based on type, bourbon whiskey is estimated to command the largest share of the overall American whiskey market in 2019. The largest share of bourbon whiskey is primarily due to huge demand from international adult consumers and more exploration of the U.S. spirits, majorly driven by their fascination with American whiskey’s heritage, as well as its mixability and versatility with cocktails. However, Rye Whiskey is expected to grow at the fastest CAGR during the forecast period.
North America commanded the largest share of the global American whiskey market, closely followed by Europe and Asia. The consumer knowledge and their thrust to explore a different variety of premium whiskeys are driving the demand for American whiskey. Asia Pacific region is slated to register the fastest growth during the forecast period, primarily due to the growing demand for premium Japanese barrel-aged whiskey, supported by favorable trade policies, and increasing consumption in developing countries such as India and Australia.
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The report also includes an extensive assessment of the key strategic developments adopted by leading market participants in the industry over the past 4 years (2016–2019). The American whiskey market has witnessed the number of new product launches, agreements partnerships & collaborations, expansions, and acquisitions in recent years. For instance, in March 2019, Beam Suntory has launched Legent, a unique bourbon. Similarly, in June 2019, Brown-Forman Corporation acquired Fords Gin, a premium gin to its growing portfolio. The purchase will include the Fords Gin trademark and other assets of The 86 Company.
The prominent players operating in the American whiskey market are Brown-Forman Corporation (U.S.), Beam Suntory, Inc. (U.S.), Diageo PLC, Davide Campari-Milano S.p.A., Heaven Hill Brands, Sazerac Company, Inc., Kirin Holdings Company Limited, Castle Brands, Tuthilltown Spirits, and Luxco, Inc. among others.
Browse key industry insights spread across 120 pages with 73 market data tables & 69 figures & charts from the report: https://www.meticulousresearch.com/product/american-whiskey-market-5042/
Scope of the Report:
American Whiskey Market, by Type
- Bourbon Whiskey
- Tennessee Whiskey
- Rye Whiskey
American Whiskey Market, by Geography
- North America
- U.S.
- Canada
- Mexico
- Europe
- U.K.
- Germany
- France
- Spain
- Russia
- Poland
- Italy
- Austria
- Netherlands
- Switzerland
- Rest of Europe (RoE)
- Asia-Pacific
- Australia
- Japan
- China
- India
- Rest of Asia
- Latin America
- Brazil
- Argentina
- Chile
- Rest of Latin America
- Middle East & Africa
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