Westford USA, June 14, 2023 (GLOBE NEWSWIRE) -- The global American Whisky market size is expected to reach USD 107.13 billion by 2030 and exhibit a CAGR of 5.95% in the forecast period (2023−2030), according to Skyquest's latest research report. The Increasing demand for premium and super-premium whisky varieties, growing popularity of craft distilleries and small-batch production methods, increasing global demand for American whisky, particularly in emerging markets, favorable tax policies and government regulations supporting the growth of the industry, innovation and experimentation with new flavours, aging techniques, and production methods, rising consumer interest in high-quality, locally-sourced, and artisanal products are fueling the Market's growth
Sustainable and Eco-friendly Practices in Production and Packaging to Promote the Use of American Whisky
At a global scale, the rise of flavoured and ready-to-drink (RTD) American whiskies, incorporation of sustainable and eco-friendly practices in production and packaging, emphasis on digital marketing and e-commerce channels to reach new customers and expand sales, increasing consumer interest in learning about the history and heritage of American whiskey is promoting the market growth.
The US government supports the agriculture industry, including the grains used to make whisky. Additionally, there are tax incentives for small distilleries that help promote growth and innovation in the industry.
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Bourbon Type Demand to Grow Substantially in the Forecast Period
Bourbon type dominated the global market owing to its popularity and unique status as an exclusively American-made product. The stringent legal requirements for a whiskey to be labeled as bourbon, such as using a minimum of 51% corn in the mash bill and aging in charred new oak barrels, give it a distinctive flavor profile that consumers highly seek
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Off-Trade is the Leading Distribution Segment
In terms of distribution, the off-trade is the leading segment due to the convenience of purchasing from retail stores. In addition, the availability of a wider range of options for consumers and the pandemic has further increased the preference for at-home consumption leading to a surge in off-trade sales.
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Kentucky is the leading Market Due to the Tradition of Producing Whisky
Region-wise, Kentucky is one of the largest growing markets with a rich history and tradition of producing bourbon whiskey. Kentucky is also home to major American whiskey brands, including Maker's Mark, Jim Beam, and Wild Turkey, contributing to the region's dominance in the market.
Browse in-depth TOC on " American Whisky Market "
Pages - 242
Tables - 61
Figures - 64
American Whisky Market Report Suggests:
- Diageo acquires Balcones Distilling, a Texas craft distiller known for producing American Single Malt Whisky, expanding its portfolio in the emerging whisk(e)y market. Balcones' diverse range of award-winning super-premium and above whiskies includes Texas "1" American Single Malt, Lineage American Single Malt, and Baby Blue Corn Whisky.
- In terms of distribution, the off-trade segment dominates due to the convenience of purchasing
- In terms of type, the bourbon type segment is projected to gain more popularity due to its unique status and exclusivity.
- Kentucky is leading markets and will continue to exhibit dominance in the global market mainly the due presence of major market players
American Whisky Market Segmentation:
The global American Whisky market report is segmented based on Product type, application, and region.
By Product Type
- Bourbon
- Rye
- Tennessee
- Corn
- Others
By Distribution Channel
- On-Trade
- Off-Trade
By Price range
- Premium
- High-end Premium
- Super Premium
By Application
- Food & Beverage
- Personal Care & Cosmetics
- Pharmaceuticals
- Electrical & Electronics
- Building & Construction
- Automotive
- Others
By Region
- Kentucky
- Tennessee
- New York
- Texas
- California
- Others
American Whisky Market Major Company Profiles:
- Diageo
- Pernod Ricard
- Brown-Forman Corporation
- Beam Suntory Inc.
- Heaven Hill Brands
- Sazerac Company
- Buffalo Trace Distillery
- Wild Turkey
- Jack Daniel's
- Maker's Mark
- Four Roses
- Jim Beam
- George Dickel
- Bulleit
- Woodford Reserve
- Old Forester
- High West
- Angel's Envy
- Knob Creek
- Elijah Craig
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