Whiskey Market Players to Target Gen-Y Consumers
Banking on dynamic shifts in consumer preference, the whiskey market is set for a promising growth trajectory of more than 6%. Growth in this market is driven by marketing efforts from major brands and strategic promotional partnerships with bars, restaurants, and events. Another factor that influences growth of whiskey market is urban expansion and increase in buying power of adult millennial consumers. Market players are capitalizing on social media channels and engaging in product launch campaigns to attract this stimulus-driven consumer segment.
Premium Quality Whiskey Takes Center Stage
Premium whiskey manufacturers are driving exponential growth in the market. The segment will witness 1.6X growth during the forecast period. High availability, expansion of consumer base, investments in infrastructure (bars, restaurants, and breweries), and increasing buying potential drive this segment. Super-premium whiskey brands are second in line to receive humbling consumer traction and healthy revenue growth. The highest growth rate will be in high-end premium whiskey, this segment will register an annual growth rate of more than 7%. The growing importance of social repertoires on the back of modernized alcohol laws increasing consumer access will propel blended whiskeys as a profit center for manufacturers.
South Asia & Oceania - Epicenters of Whiskey Market Growth
South Asia & Oceania accounts for a majority of market share (greater than 50%) as a result of rapid urbanization and economic development in countries like India and Indonesia. Latin America is an emerging region that offers lucrative growth opportunities for whiskey manufacturers aiming for global expansion. This is a direct result of cultural factors that drive consumers to opt for premium whiskey brands in urban lifestyles. Latin American countries are particularly enticed by scotch whiskey brands. Europe and North America collectively account for more than 1/4th of the global whiskey market due to high per capita consumption of alcohol drinks.
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Whiskey Market Prioritizing R&D and New Launches
Manufacturers in the whiskey market are strengthening their presence in emerging profit centers such as India, Indonesia, and Mexico. R&D departments in established brands are innovating new flavors that entice the millennial consumer. Positioning of products is a key strategy for product differentiation and gaining long-term traction from customers. Companies are focused on building consumer communities that facilitate product launches. The rise of e-commerce platforms is being leveraged on a global scale by manufacturers and consumers alike. Major players in the global whiskey market are: Diageo, Chivas Brothers of Pernod Ricard, William Grant & Sons, Bacardi & Company Limited, La Martiniquaise, The Edrington Group, Belvédère International Inc., Beam Suntory Inc., Whyte & Mackay Ltd., Inver House Distillers Ltd., LVMH Moët Hennessy – Louis Vuitton SE, and Loch Lomond Distillery Company.
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Global Whiskey Market - Scope of the Report
The following report provides forecast and analysis of the global Whiskey market along with the historical data of 2014, estimated data 2019 and forecast data up to 2029 in terms of revenue (US$ Mn) & volume (Deca Liters), according to a Fact.MR study. The research propounds critical trends that are currently influencing growth within the global whiskey market along with several macro-economic indicators. This newly published and insightful report on whiskey sheds light on key dynamics, and their impact on the overall value chain from suppliers to end-users, which are expected to transform the future of the global whiskey market.
The report also comprises the study of current issues with end users and opportunities for whiskey. It also contains value chain analysis, including the key market participants. To provide users of this report with a comprehensive view of the market, we have included a detailed competitive analysis about the key players involved in the market and strategic overviews. The dashboard included in the report provides a detailed comparison of whiskey manufacturers on parameters such as total revenue, product offerings, and key strategies. A list of key companies operating in the Whiskey market provided in the report adds to the credibility of this exhaustive research study.
Global Whiskey Market: In-Depth Assessment on Key Segments
The global whiskey market is segmented on the basis of grain type, quality, and region.
|
Grain Type |
Quality |
Region |
|
Malt |
Premium |
North America |
|
Wheat |
High-End Premium |
Latin America |
|
Rye |
Super Premium |
Europe |
|
Corn |
|
East Asia |
|
Blended |
|
South Asia & Oceania |
|
Others |
|
MEA |
This taxonomy and the detailed toc prepared are confidential and intended exclusively for the individual or entity with whom it is being shared. Reading, disseminating, distributing, or copying this to any party other than addressee(s) is unauthorized and prohibited.
Country-specific assessment on demand for Whiskey has been provided for each regional market, along with the market size valuation and forecast price point assessment, price index and impact analysis of key regional and country-wise dynamics, which were obtained through quotes from numerous Whiskey manufacturers, experts, and suppliers. Y-o-Y growth projections have also been offered on all regional markets incorporated in the report. Moreover, future trends, growth prospects, and other possibilities related to the market have been answered in the report.
The report provides company-level market share analysis, which has been derived on the basis of the company’s annual sales and segmental revenue in all the target end-use industries. The market has been forecasted based on constant currency rates. The report provides detailed competitive and company profiles of key participants operating in the global market. Some of the major competitors operating in the whiskey market are Diageo, Chivas Brothers, William Grant & Sons, Bacardi, La Martiniquaise and others.
Global Whiskey Market: Research Methodology
A number of primary and secondary sources were consulted during the course of the study. Secondary sources include Factiva, Morningstar and Hoovers, and company annual reports and publications. Comprehensive interviews have been conducted by our analysts, and the intelligence and insights obtained have been used for validating the information gained through secondary research. The report also includes a description of assumptions and acronyms utilized for research purposes. Data gathered has been validated using the triangulation method to offer useful quantitative and qualitative insights into the whiskey market.
A short market viewpoint offered in the report elucidates the macro-economic aspects that influence the growth of the whiskey market, which includes global GDP growth rate, various industries growth rate, such as alcohol, spirits, and others. This report serves as an authentic resource of intelligence on the whiskey market, enabling the readers to take fact-based decisions on the future direction of their businesses.
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Whiskey Market Forecast, Trend Analysis & Competition Tracking - Global Market Insights 2019 to 2029