Scottish Whisky Market to Reach US$ 7.89 Billion, Globally, by the End of 2027 - Coherent Market Insights
Global Scottish whisky market was valued at US$ 4.97 Mn in 2018, and is expected to reach US$ 7.89 Mn by 2027, exhibiting a CAGR of 5.3% over the forecast period.
SEATTLE, March 19, 2020 /PRNewswire/ -- The global Scottish whisky market was valued at US$ 4.97 Billion in 2018, and is expected to exhibit a CAGR of 5.3% over the forecast period (2019-2027).
Whisky is a type of diastilled beverage made up of fermented grain mash. There are many types of whisky, which are further categorized based on their origin and manufacturing process. Scotch whisky in general is a whisky, which is produced at Scotland. It is manufactured from malted barley and other non-malted cereals such as wheat or maize. Global Scottish whisky market was valued at US$ 4.97 Mn in 2018, and is expected to reach US$ 7.89 Mn by 2027, exhibiting a CAGR of 5.3% over the forecast period.
Request for Sample PDF copy @ https://www.coherentmarketinsights.com/insight/request-sample/3476
Market Drivers:
Global Scottish whisky market is expected to be driven by increasing amount of customized services such as ready to drink Scotch whisky cans, which are offered by the market vendors, increasing number of Scotch whisky distilleries, and rising popularity of Scotch whisky-based tourism across the globe. For instance, according to the Scotch Whisky Association, in 2018, European Union was one of the largest markets for Scotch whisky, which accounted for around 36% of total exports in terms of volume.
However, growth of this market is expected to be hampered by availability of substitutes such as Irish whisky. Furthermore, grain whisky mature much rapidly compared to single malt whisky. Thus, increasing demand of single malt whisky cannot be fulfilled, owing to slow maturation process, which is expected to hamper market growth.
Market Opportunities
The market is expected to witness growth opportunities with increasing demand for aged Scotch whisky. The Scotch Whisky Association has launched Scotch Whisky Action Fund for promoting responsible consumption of alcohol and also tackle alcohol-related harm in Scotland. This organization is responsible for delivering targeted interventions for tackling harm amongst the young people, families, and communities which are impacted by excessive consumption of alcohol.
Key Takeaways:
Scotch whisky is categorized into various types such as single malt, blended malt, and single grain, among others. In general, all Scotch whisky must be matured for at least three years and it be fermented by adding yeast only. Although, single malt whisky is matured for about 8-12 years or longer period.
Among distribution channels, off-trade segment is expected to witness significant growth in the global Scottish whisky market over the forecast period. The off-trade segment majorly include supermarket & hypermarkets, discount stores, and online stores. Moreover, whisky is majorly purchased by customers at cheaper rates from the duty-free stores. Premium whiskeys are stored by the customers for certain special occasions, which is further expected to drive growth of the market.
Competitive Section:
Company Names
- Diageo Plc.
- Pernod Ricard
- William Grant and Sons Ltd.
- Bacardi Limited
- Bowmore Distillery
- Suntory Beverage & Food Limited
- Brown-Forman Corporation
- LVMH
- Isle of Arran Distillery
- La Martiniquaise
- The Edrington Group
Key Developments:
In March 2019, William Grant & Sons Scotch Whiskey entered into partnership with a block chain tech company Arc-net for releasing new variety of whiskey capable of capturing full distilling and manufacturing process. This allows the customers to track their whisky from source to the store, ensuring authenticity and traceability.
Buy this Report Now @ https://www.coherentmarketinsights.com/insight/buy-now/3476
Market Segmentations:
- Global Scottish Whisky Market, By Product Type:
- Single Malt
- Blended Malt
- Blended
- Single Grain
- Blended Grain
- Organic
- Global Scottish Whisky Market, By Price Range:
- Premium
- High End Premium
- Super Premium
- Global Scottish Whisky Market, By Distribution Channel:
- On Trade
- Restaurants & Bars
- Liquor Stores
- Others
- Off Trade
- Supermarket & Hypermarket
- Discount Stores
- Online Stores
- Others
- Global Scottish Whisky Market, By Region:
- North America
- U.S.
- Canada
- Mexico
- South America
- Brazil
- Argentina
- Rest of South America
- Europe
- U.K.
- Germany
- Italy
- Spain
- Russia
- France
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- ASEAN
- Australia
- Rest of Asia Pacific
- Middle East
- GCC
- Israel
- Rest of Middle East
- Africa
- North Africa
- Central Africa
- South Africa
Did not find what you were looking for? Here are some similar topics:
CANNABIS BEVERAGE MARKET
Cannabis is psychoactive drug derived from the cannabis plant which belongs to Cannabaceae family. It is also commonly known as marijuana and is used for both therapeutic treatments and recreational purposes. Since ancient times, cannabis was cultivated by people owing to its well-known medicinal benefits. Cannabis is usually consumed in form of vapors and sometimes it is infused in food products like brownies and cookies.
Read more @ https://www.coherentmarketinsights.com/market-insight/cannabis-beverage-market-3390
INDIA ALCOHOL MARKET
Rising number of millennial population and changing lifestyle patterns is a major driver in case of the growth of India alcohol market. For instance, as per the India Brand Equity Foundation, in September 2018, millennials constituted 47% of the total Indian working population which will lead to an increasing disposable income. Moreover, the increasing demand for cafes, bars, are thereby expected to lead to an increased demand for alcohol during the forecast period.
Read more @ https://www.coherentmarketinsights.com/market-insight/india-alcohol-market-3145
GLOBAL WINE MARKET
In terms of revenue, the wine market is expected to expand at a CAGR of over 3.23% during the forecast period (2017-2025). According to a study conducted by Coherent Market Insights, the still wine segment is estimated to reach $255.66 billion by the end of 2017. The demand for fortified wine is expected to increase while sparkling wine stands to be the fastest growing segment over the forecast period.
Read more @ https://www.coherentmarketinsights.com/market-insight/wine-market-940
Contact Us:
Mr. Shah
Coherent Market Insights
1001 4th Ave.
#3200
Seattle, WA 98154
Tel: +1-206-701-6702
Email: [email protected]
View original content:http://www.prnewswire.com/news-releases/scottish-whisky-market-to-reach-us-7-89-billion-globally-by-the-end-of-2027--coherent-market-insights-301026802.html
SOURCE Coherent Market Insights
