Scotch Whisky Market is Anticipated to Witness a Significant Growth in Coming Years
Increasing demand of liquor and
rise in party culture around the world are acting as key factors propelling the
growth of global scotch whisky market.
According
to TechSci Research report, “Global Scotch
Whisky Market By Product Type (Bottle Blended, Bulk Blended, Single Malt
Bottle, Bottle Single/Blended Grain, Others), By Distribution Channel (Retail
Stores, Specialty Stores, Online Stores), By Region, Forecast & Opportunities,
2025”, the market is expected to undergo a rapid growth during
the forecast period. Key factors propelling the growth of global scotch whisky market
are rise in per capita disposable income and increasing party culture around
the world. Furthermore, increasing demand of liquor, especially among millennial
generation, demand for premium and super premium products and availability of
wide variety of options to choose from are some other major factors propelling
the growth of global scotch whisky market. Also, changing lifestyles and
growing influence of western culture are creating high demand for scotch whisky
throughout the globe. With entry of new manufactures and increasing licensing
of liquor shops in various economies, the global scotch whisky market is poised to witness a significant growth in
coming five years.
Additionally, the introduction of customized services
such as ready to drink scotch whisky cans and rising number of scotch whisky
distilleries are supporting the growth of global scotch whisky market. The
market is also witnessing growing trend of organic and blended whisky. Hence,
companies are now coming up with more organic variants of organic whisky to
meet the burgeoning demand. Apart from this, distilleries as a part of product
innovation, are adding flavors to the whiskeys to make the product relevant to the next
generation. Moreover, rise in number of scotch whisky distilleries and growing popularity
of Scotch whisky-based tourism are anticipated to drive the market growth
through 2025.
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The global
scotch whisky market can be segmented based on product type, distribution channel
and region. Based on product type, the market is segmented into bottle blended,
bulk blended, single malt bottle, bottle single/blended grain and others. Among
them, blended whisky segment is expected to dominate the market during the
forecast period as it contains mixture of different whiskies including malt or
grain and are popular among consumers.
Based
on distribution channel, the global scotch whisky market can be segmented into retail
stores, specialty stores and online stores. Among them, the specialty stores
segment is expected to contribute high CAGR during the forecast period. Also, customers
prefer to buy scotch whisky at cheaper rates from the duty-free stores.
Major players operating in the global scotch
whisky market are Bacardi Limited, Beam Suntory, Inc.,
Diageo Plc, Pernod Ricard, William Grant and Sons Ltd., Aceo Ltd., Ben Nevis
Distillery, Brown-Forman Corporation, Edrington and Glenmorangie. Key growth
strategies being adopted by leading manufactures are mergers & acquisitions,
new product launches and collaborations to strengthen their position in global
market.
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“Europe dominated the global scotch whisky market in
2019 and is further expected to lead the market in terms of revenue during the
forecast period. The presence of large distilleries in countries like Spain,
France and Germany are making the region a leading market in global scotch
whisky market. However, Asia Pacific is expected to serve as a lucrative market
in coming years owing to increasing demand for scotch among millennial population
and rising per capita income of countries like India and Indonesia,” said Mr.
Karan Chechi, Research Director with TechSci Research, a research based global
management consulting firm.
“Global
Scotch Whisky Market By Product Type (Bottle Blended, Bulk Blended, Single Malt
Bottle, Bottle Single/Blended Grain, Others), By Distribution Channel (Retail
Stores, Specialty Stores, Online Stores), By Region, Forecast &
Opportunities, 2025” has evaluated the future growth potential of scotch
whisky market and provides statistics & information on market size,
structure and future market growth. The report intends to provide cutting-edge
market intelligence and help decision makers take sound investment decisions. Besides,
the report also identifies and analyzes the emerging trends along with
essential drivers, challenges and opportunities in global scotch whisky market.
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