Sarasota, FL -- (SBWire) -- 03/29/2019 --Global Whiskey Market: Overview
Whiskey is an alcoholic beverage and it is made by aging in the wooden caskets. There are many types and classes of whiskey. Increasing cocktail culture has increased the demand for whiskey. Whiskey is a reasonably priced luxury item and hence consumed more by the consumers. This factor is encouraging the manufacturing companies to introduce more innovations in the product.
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Global Whiskey Market: Growth Factors
Factors contributing to the growth of the whiskey market are the changing lifestyle of the people and rise in disposable income. Increasing the purchasing power of the individuals' has contributed to the increased consumption of the product. Increasing consumer base globally has strongly increased the demand for blended whiskey. In the coming years, it is expected that the popularity of super-premium drinks will increase especially in the developed regions. The aspects accounting to this growth are restructured alcohol laws, hospitality tax restraints, growing demand for crafted products, availability of customized and premium products, and improving consumer choice and access, among others.
Factor that is mainly limiting the growth of the market is the taxation policies and stringent government regulations. Whiskey comes under the category of alcoholic beverage thus certain regulations are required to be followed. For instance, there are regulations associated with the sale, production, and distribution of alcohols within borders; these all regulations are expected to be followed by the market players. Thus these federal and local laws are affecting the market growth. Untapped countries such as China, Brazil, and India offer opportunities to the industry players.
Global Whiskey Market: Segmentation
The global whiskey market is segmented into product type and on the basis of its quality. Based on the product type, the whiskey market is categorized into wheat, corn, rye, blended, malt, and others. The quality of the whiskey can be determined as a super premium, high-end premium, and premium.
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Global Whiskey Market: Regional Analysis
Majority of the market shares are expected to be concentrated in the regions of North America and Europe due to increased consumer demand. Increase in the number of premium whiskey manufacturers in North America has driven the whiskey market considerably. Growing demand for the product in the region has enticed many new manufacturers in the market. In addition, the presence of a large number of craft distillers in the states of the U.S. such as Tennessee, New York, California, Michigan, North Carolina, Vermont, Kentucky, Pennsylvania, Texas, Arkansas, Kansas, and West Virginia positively contributes to the North American whiskey market. Major countries contributing to the North American whiskey market are Mexico, Canada, and the U.S.
Europe anticipates holding the majority of the market shares which is due to the increased demand for the product from the countries such as Belgium, France, Poland, Germany, Spain, and the UK. Asia Pacific region is also expected to have considerable market growth in the coming years.
Global Whiskey Market: Competitive Players
Among several companies in the whiskey market, some of the prominent players include Allied Blenders and Distillers Pvt. Ltd., Pernod Ricard, Constellation Brands, Inc., Suntory Holdings Ltd., La Martiniquaise, Angus Dundee Distillers Plc., Bacardi Limited, Brown-Forman; Diageo, and Asahi Group Holdings, among others.
Global Whiskey Market: Regional Segment Analysis
North America
The U.S.
Europe
The UK
France
Germany
The Asia Pacific
China
Japan
India
Latin America
Brazil
The Middle East and Africa
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Whiskey Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018–2026