The global Scottish whisky market was valued at US$ 4.97 Billion in 2018, according to Scottish Whisky Market Report, by Product Type (Single Malt, Blended Malt, Blended, Single Grain, Blended Grain, and Organic), by Price Range (Premium, High End Premium, and Super Premium), by Distribution Channel (On Trade (Restaurants & Bars, Liquor Stores, and Others) and Off Trade (Supermarket & Hypermarket, Discount Stores, Online Stores, and Others)), and by Region (North America, Latin America, Asia Pacific, Europe, Middle East, and Africa) published by Coherent Market Insights.
Scotch whisky is produced in Scotland, majorly in the regions such as Highland, Islay, Campbeltown, Lowland, and Speyside. Global Scottish whisky market is expected to reach US$ 7.89 Billion by 2027, exhibiting a CAGR of 5.3% during the forecast period (2019-2027).
Scottish whisky market is majorly driven by changing perception of consumers towards Scotch whisky and rising demand for premium whisky by customers. Moreover, increasing disposable income of consumers across the globe is rising the affordability of premium products among the customers. The market is also driven by the changes in regulations provided by the Scotch whisky association. Under the guidelines of new regulations, scotch can also be matured in oak casks, which were previously used for aging of beer, wine, spirits, and ale. This has further broadened the variety of casks available to distillers.
However, growth of the global Scottish whisky market is expected to be hampered by increasing demand for aged Scottish whisky, which has led to rise in price and shortage of Scottish whisky. Consumers tend to buy aged whisky and the major issue faced is that there exist no shortcut to speed up the distillation process.
To know the latest trends and insights prevalent in this market, click the link below:
https://www.coherentmarketinsights.com/market-insight/scottish-whisky-market-3476
Browse 50 market data tables* and 40 figures* on "Scottish whisky Market” - Global forecast to 2027.
Key Trends and Analysis of the Scottish whisky Market:
The major trend in the Scotch whisky market is increasing inclination of consumers towards premium whisky. Consumers are shifting their focus on super premium products. With increasing disposable income, consumers have started considering whiskey as an affordable luxury. Owing to all these factors, the manufacturers are focused on launching premium and super-premium products. This is majorly driving the markets of U.S. and France.
Key Takeaways of the Market:
- Among product type, blended segment is expected to witness significant growth in the market over the forecast period, owing to inclination of the consumers towards adoption of premium products for maintaining their social status. This has lead whisky manufacturers to focus on providing their product with enhanced features such as quality, age, and authenticity for distinguishing their product from other competitors.
- Asia Pacific is expected to experience significant growth in the market over the forecast period, owing to increasing per capita income and rapid urbanization in emerging economies of Asia Pacific such as China and India that are driving growth of the Scottish whisky market in this region. Population of the emerging economies has higher adoption rate towards western culture and lifestyle. This has led in fuelling demand for Scotch whisky.
- Major players operating in the global Scottish whisky market include 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, and The Edrington Group.
