Whiskey Market Size Worth $146.15 Billion By 2030 | CAGR: 7.3%

The global whiskey market size is expected to reach USD 146.15 billion by 2030, according to a new study by Polaris Market Research. The report “Whiskey Market Share, Size, Trends, Industry Analysis Report, By Product (Malt, Wheat, Rye, Corn, and Others); By Type; By Quality; By Region; Segment Forecast, 2022 - 2030” gives a detailed insight into current market dynamics and provides analysis on future market growth.

Increasing consumption of whiskey among Gen-Z, rapidly growing adoption of western lifestyle, rising number of pubs and night-pubs, and penetration of consuming whiskey as a better source of protein across the globe are major factors projected to drive the growth and demand for the global market over the course of anticipated period. Increasing consumption of whiskey by millennials and shift in their prevalence from wine and beer, as they are willing to pay more for originality, quality, and provenance of products, has resulted in higher growth of the market and increased the overall consumption worldwide.

For instance, in 2021, the total volume of export of scotch whiskey were valued at 138 billion bottles of the standard size 70 cl with a rise of 21 percent from the previous year. France has retained its top position of scotch whiskey consuming country with a consumption of 176 million bottles consumed in 2021, while India consumed a total of 136 million bottles in 2021 with a significant rise of 44 percent from 2020.

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With the increasing consumer focus on healthy living, individuals prefer the best brands for consumption. The rising prevalence of organic whiskey among health-conscious drinkers over alcoholic varieties has forced top market players to focus on organic options. Moreover, an increasing number of businesses developing strategies, including acquisition, merger, technological development, and new product launches being implemented by market players, are also likely to impact the global market positively.

For instance, in July 2022, Diageo, announced that the company had acquired Vivanda, a flavor-matching tech company. With this acquisition, the company will expand its digital marketing capabilities and help to provide a better understanding of its consumer preferences to unlock future opportunities.

Whiskey Market Report Highlights

• Premium segment accounted for over largest revenue share in 2021, which is mainly driven by growing consumption of conventional drinks and a rapid increase in pub-visiting and club population
• Wheat segment is likely to witness a high growth over the forecast period on account of several properties of wheat such as gentle sweetness, lightness, and low availability of spice factor
• Scotch whiskey segment held the largest market revenue share in 2021 and projected to maintain its position throughout the projected period due to high popularity of Scottish whiskey because of its aroma, taste, and texture
• North America region dominated the whiskey market in 2021, which is accelerated by reduced timelines for the approval of production and sales of whiskey products and rising need for product diversification in the region
• The global players include Pernod Ricard, Red Brick Brewing, United Spirits, and Anchor Brewing

Polaris Market Research has segmented the Whiskey market report based on product, type, quality, and region:

Whiskey, Product Outlook (Revenue - USD Billion, 2018 - 2030)

• Malt
• Wheat
• Rye
• Corn
• Others

Whiskey, Type Outlook (Revenue - USD Billion, 2018 - 2030)

• American Whiskey
• Scotch Whiskey
• Irish Whiskey
• Canadian Whiskey
• Others

Whiskey, Quality Outlook (Revenue - USD Billion, 2018 - 2030)

• Premium
• High-end Premium
• Super Premium

Whiskey, Regional Outlook (Revenue - USD Billion, 2018 - 2030)

• North America
  • U.S
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Netherlands
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Indonesia
  • Malaysia
• Latin America
  • Argentina
  • Brazil
  • Mexico
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Israel
  • South Africa