The "Irish Whiskey Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028" report has been added to ResearchAndMarkets.com's offering.
The global Irish whiskey market size reached US$ 4.7 Billion in 2022. Looking forward, the market is set to reach US$ 7.5 Billion by 2028, exhibiting a CAGR of 8.1% during 2022-2028
The increasing preference for premium alcoholic beverages, rising number of distilleries, and the growing popularity of home delivery services represent some of the key factors driving the market.
At present, key players operating worldwide are introducing novel variants, such as apple, berries, mint, spiced, coffee, and honey, to expand their product portfolio.
Irish Whiskey Market Trends:
There is an increase in the preferences for premium alcoholic beverages on account of the expanding purchasing power of consumers. This, coupled with the growing adoption of western drink culture and significant growth in the food and beverages (F&B) industry, represents one of the major factors driving the demand for Irish whiskey around the world.
In addition, there is a rise in the number of commercial spaces, such as distilleries, microbreweries, cafes, pubs, restaurants, bars, and hotels, which offer a variety of Irish whiskey-based experimental cocktails. This, along with the increasing collaboration of Irish whiskey brands with these establishments to launch various endorsement programs, is strengthening the growth of the market.
Moreover, the growing use of Irish whiskey in the preparation of different fancy food recipes, such as truffles, cheesecakes, mousse, ice cream, brownies, tiramisu, pudding, and oatmeal, is influencing the market positively. Besides this, the increasing awareness among the masses about the benefits of consuming Irish whiskey as compared to other alcoholic beverages is propelling the growth of the market.
Apart from this, key players are focusing on investing in different marketing strategies, such as celebrity endorsements and social media campaigns, to expand their market reach. They are also adopting innovative and environment-friendly packaging due to the emerging trend of gifting unique premium items, such as Irish whiskey.
Furthermore, the growing popularity of home delivery services through online portals that provide convenience, vast collection, and fast shipping facilities is creating a positive outlook for the market.
Key Questions Answered in This Report
- What was the size of the global Irish whiskey market in 2022?
- What is the expected growth rate of the global Irish whiskey market during 2023-2028?
- What are the key factors driving the global Irish whiskey market?
- What has been the impact of COVID-19 on the global Irish whiskey market?
- What is the breakup of the global Irish whiskey market based on the type?
- What is the breakup of the global Irish whiskey market based on the pricing?
- What is the breakup of the global Irish whiskey market based on the sales channel?
- What are the key regions in the global Irish whiskey market?
- Who are the key players/companies in the global Irish whiskey market?
Competitive Landscape:
The report has also provided a comprehensive analysis of the competitive landscape in the global Irish whiskey market.
Competitive analysis such as market structure, market share by key players, player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report.
Some of the companies covered include
- Beam Suntory Inc. (Suntory Holdings Limited)
- Boann Distillery
- Brown-Forman Corporation
- Connacht Whiskey Company Limited
- Diageo plc
- Edrington
- Pernod Ricard
- Sazerac Company Inc.
- Teeling Whiskey Distillery
- West Cork Distillers
- William Grant Sons Ltd.
Key Market Segmentation:
Type Insights:
Blended represented the largest segment
- Blended
- Single Malt
- Single Pot Still
- Single Grain
Pricing Insights:
Premium accounted for the largest market share
- Mass
- Premium
Sales Channel Insights:
Off-trade represented the largest segment
- On-trade
- Off-trade
Regional Insights:
North America (the United States and Canada) was the largest market for Irish whiskey. Some of the factors driving the North America Irish whiskey market included increasing tourist visit, product innovations, rising marketing strategies, etc.
- North America
- United States
- Canada
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
For more information about this report visit https://www.researchandmarkets.com/r/p9zyz7
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View source version on businesswire.com: https://www.businesswire.com/news/home/20230420005743/en/
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