Global Whiskey Market Size, Share, Trends, Growth and Forecast 2032

Whiskey Market Insights

According to Zion Market Research, the global Whiskey Market was worth USD 36.91 Billion in 2023. The market is forecast to reach USD 60.28 Billion by 2032, growing at a compound annual growth rate (CAGR) of 5.6% during the forecast period 2024-2032.

The report offers a comprehensive analysis of the market, highlighting the factors that will determine growth, potential challenges, and opportunities that could emerge in the Whiskey industry over the next decade.

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Introduction

Whisky is a kind of distilled alcoholic drink that is produced from fermented grain mash.  The grains used for malting to produce whiskey can include barley, rye, wheat, and corn. Moreover, the beverage is cost-effective luxury product encouraging whiskey manufacturers to launch premium as well as non-premium whiskey items. The most prominent kinds of whiskey that generate huge sales & revenues for manufacturers include American whiskey, scotch, Irish whiskey, blended whiskey, and grain whiskey. The intake of whiskey in moderate proportion can prove beneficial for health and also minimizes the risk of heart disorders as well occurrence of high or low blood pressure in individuals.

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Whiskey Market Overview

Global Whiskey is a liquor made by distilling a variety of grains such as corn, wheat, barley, and rye. Whiskey drunk straight or used in a variety of cocktail and shot recipes. Whiskey drinking at a reasonable level is thought to be helpful to one's health as it lowers the risk of heart and blood pressure issues. Excessive consumption, on the other hand, has been linked to serious health problems. It is also used to clean wounds in a medical emergency as an alternative to alcohol. The whiskey market thrives due to increasing global demand and a trend toward premiumization. Innovation and product diversity, alongside the rising popularity of craft whiskey, contribute to market growth. Additionally, the expanding cocktail culture, whiskey tourism, and diverse distribution channels further propel the market, creating a dynamic landscape driven by consumer preferences and industry innovation.

Market Growth Drivers  

Massive demand for premium as well as super-premium whiskeys in both the emerging as well as developed countries will influence the expansion of whiskey market over the forecast timeline. Apart from this, breakthroughs in process of making alcoholic beverages along with rise in the proportion of whiskey distilleries will elevate the expansion of global whiskey market over the estimated timespan.

Moreover, altering life patterns of customers along with rising trend among working professionals towards more of socializing & weekend parties will steer the business trends. Furthermore, rise in the promotional activities & advertisement campaigns on social media, internet, TV, and print media will bolster the scope of the business. Additionally, online shopping & retail activities and thriving ecommerce activities will promulgate the growth of market during the forecast period. Expansion of the product portfolio will further increment the growth of the industry over the estimated timespan.

Whiskey Market Dynamics

Growing innovations in whiskey products such as organic whiskey are propelling the whiskey market growth in a positive way across the globe. The global whiskey industry is driven by the availability of various brands in the market across the globe. The increasing affordability of the middle-class population across the globe is expected to fuel the global market growth during the forecast period. Growing innovations in products of whiskey and increased investments in R&D by manufacturers around the globe are anticipated to propel the whiskey market growth in the forecast period. Whiskey demand is influencing as they are a source of protein with high digestibility. Increasing habits towards the consumption of whiskey among the young population across the globe, are fuelling the whiskey industry growth positively. In addition, changing lifestyles and increased disposable incomes of consumers across the globe are expected to surge the market growth during the forecast period. However, strict government regulations and policies regarding whiskey consumption in various countries, are estimated to hamper the global whiskey market growth during the forecast period. Whisky consumption per capita offers an intriguing perspective on the countries that truly embrace and savor this captivating spirit. From France and Uruguay to the United States, Australia, and Spain, these countries showcase their love for whisky through their high average annual consumption. As whisky continues to captivate enthusiasts worldwide, it remains an enduring symbol of craftsmanship, heritage, and the appreciation of exceptional flavors.

Asia Pacific To Contribute Notably Towards Global Market Share By 2032

The expansion of whiskey market in Asia Pacific zone during 2024-2032 is due to large-scale consumption of the alcoholic beverage in countries like India, Japan, Singapore, and China. Apart from this, low product costs & huge production capacity is anticipated to steer the regional market expansion over the forecast timespan.

Whiskey Market: Report Scope

Key players of the market include -

• Suntory Beverage & Food Limited
• The Edrington Group
• Bacardi Limited
• Constellation Brands
• Pernod Ricard
• Allied Blenders and Distillers Pvt Ltd.
• Diageo plc
• Asahi Group Holdings Ltd.
• La Martiniquaise
• The Brown–Forman Corporation
• and William Grant & Sons Holdings Ltd.

The report segments the global whiskey market as follows:

By Raw Material

• Corn
• Malt
• Blended
• Rye
• Wheat
• Others

By Quality

• High-End Premium
• Super Premium
• Premium

By Distribution Channel

• On-Trade
  • Liquor Stores
  • Bars and Restaurants
  • Others
• Off-Trade
  • Online Stores
  • Discount Stores
  • Hypermarkets and Supermarkets
  • Others

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa