REDDING, Calif., Dec. 2, 2024 /PRNewswire/ -- According to a new market research report titled, ' Scotch Whiskey Market Size, Share, Forecast, & Trends Analysis by Product Type (Single Malt Scotch Whiskey, Blended Scotch Whiskey), Product Quality (Value, Premium, High-end Premium), Distribution Channel (Off-trade, On-trade)-Global Forecast to 2031'.
The scotch whiskey market is expected to reach $22.83 billion by 2031, at a CAGR of 7.3% from 2024 to 2031.
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The growth of the scotch whiskey market is driven by growing consumer preference for premium scotch whiskies, the increasing availability of scotch whisky in distinctive flavors, and rising demand for organic scotch whiskey. However, the emergence and increasing popularity of innovative non-alcoholic beverages and increasing campaigns against alcohol consumption restraints the market's growth.
Furthermore, emerging economies in Asia and Latin America, coupled with the expansion of e-commerce channels worldwide, present significant growth opportunities for market players. However, government regulations and the need for brand protection due to the risk of counterfeiting are some of the key challenges affecting market growth.
Additionally, the rising popularity of luxury scotch whiskies, along with advancements in production technology and packaging, are some of the prominent trends in the scotch whiskey market.
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Key Players:
Some of the key players profiled in this report are Diageo plc (U.K.), Suntory Global Spirits Inc. (U.S.), William Grant & Sons Limited (U.K.), La Martiniquaise (France), The Edrington Group Limited (U.K.), Whyte and Mackay Limited (U.K.), Loch Lomond Distillers Limited (U.K.), Asahi Group Holdings, Ltd. (Japan), Ian Macleod Distillers Limited (U.K.), and Pernod Ricard S.A. (France).
The scotch whiskey market is segmented by product type (blended scotch whiskey, single malt scotch whiskey, single grain scotch whiskey, blended malt scotch whiskey, and blended grain scotch whiskey); product quality (value, premium, high-end premium, and super-premium); distribution channel (off-trade and on-trade). This study also provides a comprehensive analysis of the scotch whiskey market in North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.
Scotch Whiskey Industry Overview: Latest Developments from Key Industry Players
- In September 2024, William Grant & Sons signed an agreement to purchase The Famous Grouse and Naked Malt brands from The 1887 Company Limited (U.K.).
- In April 2022, Chivas Brothers, the scotch whisky business of Pernod Ricard, invested USD 108.9 million (GBP 88 million) into Aberlour and Miltonduff, two of its strategic single malt distilleries to upgrade sustainable distillation technologies at the Speyside distilleries along with significant production capacity expansions to meet the growing global demand for scotch.
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Key Findings in the Scotch Whiskey Market Study:
By product type, the single malt scotch whiskey segment is poised to record a higher CAGR during the forecast period 2024-2031 due to the increasing consumer interest in authenticity and quality at the forefront. Single malt scotch whiskey offers distinct flavor profiles, rich heritage, and artisanal craftsmanship.
By product quality, the premium segment is slated to record the highest CAGR during the forecast period 2024-2031. This segment's growth is driven by rising disposable incomes and the increasing preference for high-quality, well-crafted spirits.
By distribution channel, the on-trade segment is anticipated to record the highest CAGR during the forecast period 2024-2031. This growth is driven by the growing number of bars, restaurants, pubs, and clubs offering a wide range of beverages and the rising cocktail culture in these venues.
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By geography, Asia-Pacific is poised to record the highest CAGR during the forecast period 2024-2031. This growth is driven by the rising demand for premium, barrel-aged whiskies, favorable trade policies, and the increasing popularity of the highball cocktail-a mix of whisky and soda served over ice. The growing consumption of Scotch whisky in developing countries, particularly in China and India, is further fueling market growth in this region.
Scope of the Report:
Scotch Whiskey Assessment-by Product Type
- Blended Scotch Whiskey
- Single Malt Scotch Whiskey
- Single Grain Scotch Whiskey
- Blended Malt Scotch Whiskey
- Blended Grain Scotch Whiskey
Scotch Whiskey Market Assessment-by Product Quality
- Value
- Premium
- High-end Premium
- Super-premium
Scotch Whiskey Market Assessment-by Distribution Channel
- Off-trade
- On-trade
Scotch Whiskey Market Assessment-by Geography
- North America
- U.S.
- Canada
- Europe
- U.K.
- Germany
- France
- Italy
- Russia
- Spain
- Poland
- Austria
- Netherlands
- Switzerland
- Belgium
- Rest of Europe (RoE)
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Malaysia
- Thailand
- Vietnam
- Singapore
- Philippines
- Taiwan
- Rest of Asia-Pacific (RoAPAC)
- Latin America
- Brazil
- Mexico
- Argentina
- Rest of Latin America (RoLATAM)
- Middle East & Africa
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Scotch Whiskey Market Research Summary
Particulars | Details |
Number of Pages | ~250 |
Format | |
Forecast Period | 2024-2031 |
Base Year | 2023 |
CAGR (Value) | 7.3 % |
Market Size (Value) | USD 22.83 Billion by 2031 |
Segments Covered | By Product Type
By Product Quality
By Distribution Channel
|
Countries Covered | North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Russia, Spain, Poland, Austria, Netherlands, Switzerland, Belgium, Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia, Malaysia, Thailand, Vietnam, Singapore, Philippines, Taiwan, Rest of Asia-Pacific), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), and the Middle East & Africa. |
Key Companies | Diageo plc (U.K.), Suntory Global Spirits Inc. (U.S.), William Grant & Sons Limited (U.K.), La Martiniquaise (France), The Edrington Group Limited (U.K.), Whyte and Mackay Limited (U.K.), Loch Lomond Distillers Limited (U.K.), Asahi Group Holdings, Ltd. (Japan), Ian Macleod Distillers Limited (U.K.), and Pernod Ricard S.A. (France). |
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