Enjoy complimentary customisation on priority with our Enterprise License!
The Scotch Whisky Market size is projected to increase by USD 15.11 billion, at a CAGR of 9.03% between 2023 and 2028. Rising international demand for scotch whisky is notably driving the market growth. Emerging markets, particularly in regions such as Asia, Latin America, and Africa, have shown a growing appetite. Moreover, this has become a symbol of luxury, tradition, and craftsmanship worldwide. Its cultural influence extends to celebrations, events, and social gatherings in various countries. To cater to different markets and consumer preferences, the producers have introduced innovative expressions, limited editions, and exclusive releases. These offerings keep consumers engaged and excited. Our market research and growth report examines historical data from 2018 to 2022, besides analyzing the current market scenario.
The market shows an accelerated CAGR during the forecast period.
To get additional information about the market, Request Free Sample
AAC statistics from the Addiction Center reveal concerning trends related to additives, flavors, and organic consumption in the barley industry. Despite efforts to promote healthier lifestyles, affluent consumers continue to indulge in alcoholic beverages containing various additives and flavors. The rise of organic barley products reflects a growing awareness of health and environmental concerns among consumers.
The presence of premiumization and luxury Scotch whiskies is one of the emerging market trends shaping the development. Premium and luxury whiskies command higher price points compared with standard expressions. Consumers are willing to pay a premium for exceptional quality, craftsmanship, and exclusivity. Single malt Scotch whiskies, known for their distinct regional characteristics and flavors, have become synonymous with premium and luxury experiences. Distilleries promote their single malt offerings to cater to discerning consumers. Luxury Scotch whiskies are often presented in exquisite packaging, including ornate bottles, wooden boxes, and detailed labels.
Moreover, the packaging enhances the overall aesthetic and premium feel of the product. Premium Scotch whiskies often receive accolades and awards from competitions and critics. These honors reinforce the quality and desirability of luxury expressions. Thus, the presence of premiumization and luxury Scotch whiskies reflects a growing appreciation for heritage, craftsmanship, and unique qualities, which will enhance the growth of the market during the forecast period.
Increasing campaigns against alcohol consumption is a significant challenge hindering market expansion. Campaigns against alcohol consumption raise public awareness about the potential risks associated with excessive drinking, including health issues, addiction, and impaired driving. Campaigns may lead to changes in consumer behavior, with some individuals opting for lower-alcohol beverages or reducing their alcohol consumption. This can impact overall sales and consumption patterns in the alcoholic beverage industry. Some brands emphasize responsible drinking and promote a balanced lifestyle in their marketing campaigns. These efforts can help build a positive brand image and resonate with health-conscious consumers.
Moreover, the impact of campaigns against alcohol consumption varies by region and market. Some markets may be more affected by changing attitudes toward alcohol, while others may have less stringent regulations and cultural norms. Thus, the increasing campaigns against alcohol consumption will lead to a decline in the growth of the market during the forecast period.
Single malt and malt whiskey are sought after by enthusiasts, often found in specialty sections of retail stores or dedicated specialty stores. Whether sold bottled or in bulk, the demand for malt beverages like Scotch continues to rise. Connoisseurs appreciate the unique flavors and craftsmanship behind each single malt or malt whiskey, making them a staple in liquor cabinets worldwide.
Blended is a versatile spirit that can be enjoyed in various ways and used in a variety of cocktails and culinary applications. Blending is done to achieve a balanced and consistent flavor profile. Blended is often more accessible and affordable than some single-malt Scotch whiskies, making it a popular choice for both casual and seasoned enthusiasts. Thus, blended is prized for its balance, consistency, and versatility. The art of blending allows for a wide range of flavor profiles to suit different preferences and occasions. These factors will contribute to the growth of the blended segment, which will boost the growth of the market during the forecast period.
The market share growth by the off-trade segment will be significant during the forecast period. The most common off-trade distribution channels include individual retailers, supermarkets, hypermarkets, and online platforms. Such distribution channels allow the consumer to choose from a much larger variety as they have dedicated sections for different brands, unlike on-trade channels. Moreover, off-trade distribution channels have cost advantages as they do not have to bear the additional cost of seating people.
The off-trade segment was valued at USD 12.77 billion in 2018
For a detailed summary of the market segments Request for Sample Report
The rising penetration of the Internet across the world is expected to increase the online sales of various types of alcoholic beverages, including Scotch whisky. Online retailing is popular among consumers, especially Millennials, as it provides various benefits such as convenience and diversified product offerings. The prices are higher online than in traditional retail stores. Further, the advantages of purchasing online have led certain companies to sell their products online by partnering with online retailers or by offering their products on their own proprietary websites. These factors are expected to drive the growth of the off-trade distribution segment, which will enhance the growth of the market during the forecast period.
Europe is estimated to contribute 39% to the growth of the global market during the forecast period
Get a glance at the market share of various regions View PDF Sample
Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The market in Europe is expected to witness a high growth rate owing to the increasing popularity of alcoholic beverages. It has a rich history and tradition in Europe, particularly in Scotland, where it originated. Europe offers a wide variety and styles, including single malt, blended malt, single grain, and blended grain whiskies. This diversity caters to a range of consumer preferences and price points. In addition to that, this is deeply embedded in European culture, often associated with celebrations, gatherings, and traditional events. It is a symbol of hospitality and a shared appreciation of quality spirits. Moreover, education programs, tastings, and events help consumers in Europe deepen their understanding and appreciation, leading to increased demand for premium offerings. Thus, these factors will contribute to the growth of the market in Europe during the forecast period.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
The market growth analysis report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market stands as a cornerstone within the spirits market, celebrated for its rich whisky history and diverse whisky production techniques. Scotland is the primary producer of Scotch whisky, with a rich history in its production dating back centuries. From the rugged hills of the Highlands to the tranquil glens of Speyside, Scotch distilleries craft a plethora of Scotch whisky varieties, including sought-after single malt whisky and harmoniously blended whisky. Renowned Scotch brands like Glenfiddich and Macallan lead the charge, epitomizing whisky aging perfection and whisky distillation mastery. Whisky regions delineate distinct flavor profiles, captivating whisky aficionados worldwide. As whisky consumption burgeons globally, Scotch whisky exports soar, fueling an ever-growing whisky culture. Whisky-tasting events and societies thrive, fostering whisky appreciation among enthusiasts. In essence, Scotch whisky transcends mere libation; it embodies tradition, craftsmanship, and a timeless allure.
This market is a dynamic sector driven by whisky enthusiasts and the global economy. With high demand, import and supply chains play pivotal roles in shaping pricing strategies. The Scotch whisky industry encompasses various players, from traditional distilleries to modern whisky shops, catering to diverse whisky preferences. This market includes single malt and blended whisky, reflecting the rich heritage of Scottish whisky. Marketplace dynamics influence market prices, with Scotch whisky holding a prominent position in the whisky market worldwide.
The market report forecasts market growth and forecasting by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2018 to 2028.
Market Scope |
|
Report Coverage |
Details |
Page number |
158 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 9.03% |
Market Growth 2024-2028 |
USD 15.11 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
6.33 |
Regional analysis |
Europe, North America, APAC, Middle East and Africa, and South America |
Performing market contribution |
Europe at 39% |
Key countries |
US, India, France, Spain, and Germany |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Aceo Ltd., Allied Blenders and Distillers Pvt. Ltd., Arran Distillers Ltd., Asahi Group Holdings Ltd., Bacardi Ltd., Brown Forman Corp., Campari Group, Constellation Brands Inc., Diageo Plc, Heaven Hill Sales Co., LVMH Moet Hennessy Louis Vuitton SE, Paul John-Whisky, Pernod Ricard SA, Quintessential Brands Group, Sazerac Co. Inc., Speymalt Whisky-Distributors Ltd., Suntory Holdings Ltd., Thai Beverage Public Co. Ltd., The Edrington Group Ltd., and William Grant and Sons Ltd |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
BUY NOW Full Report and Discover more
We can help! Our analysts can customize this market research report to meet your requirements. Get in touch
Get lifetime access to our
Technavio Insights
Cookie Policy
The Site uses cookies to record users' preferences in relation to the functionality of accessibility. We, our Affiliates, and our Vendors may store and access cookies on a device, and process personal data including unique identifiers sent by a device, to personalise content, tailor, and report on advertising and to analyse our traffic. By clicking “I’m fine with this”, you are allowing the use of these cookies. Please refer to the help guide of your browser for further information on cookies, including how to disable them. Review our Privacy & Cookie Notice.