American-made whiskey is leading a surge in the global market for amber nectar. Global whiskey market trends estimate a $37.53 billion surge over the next four years.
The much-loved spirit is set to soar according to new market research undertaken by Technavio.
The analyst has over 17,000 Market research reports covering 800 technologies in 50 countries, so it knows a thing or two about the rising tide of whiskey in the global market.
Whiskey market to see a surge in the coming years
American whiskey, alongside Irish whiskey, are the two leading lights in the pack of global spirits in terms of growth. Scotland keeps its historical top-spot as the best market product, but there are a lot of factors making the entire market shift.
One of those American factors is the demand in the heartlands of the South, like Kentucky, where the growth of distilleries isn’t stopping. The rise in both locations and new operations is a key sign that the market is surging.
The report highlights the key staples of the global whiskey market, saying “including Scotch whiskey and emerging markets, has seen robust imports, driven by the desire for quality and authenticity. Spirit tourism has further fueled demand, offering consumers a firsthand experience of the production process.”
Competition fierce across the Asia-Pacific
However, it isn’t all rosy for the traditional staples of the water of life, as the Asia-Pacific region is set to play a part. The market growth from this region is, according to the locale, going to contribute 50% to the global whiskey market by 2028. The region will be followed swiftly by leading distilleries from South America, and Middle East and Africa.
The key companies that were profiled include:
Allied Blenders and Distillers Pvt. Ltd., Asahi Group Holdings Ltd., Bacardi Ltd., Beam Suntory Inc., Brown Forman Corp., Constellation Brands Inc., Davide Campari Milano NV, Diageo Plc, Heaven Hill Sales Co., John Distilleries Pvt. Ltd., Kirin Holdings Co. Ltd., Luxco Inc., LVMH Moet Hennessy Louis Vuitton SE, Pernod Ricard SA, Sazerac Co. Inc., The Cotswold Distilling Co. Ltd., The Edrington Group Ltd., William Grant and Sons Ltd., and Woodinville Whiskey Co.
Image: Ideogram.
