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The Irish Whiskey Market size is projected to increase by USD 2,105.64 million and the market size is estimated to grow at a CAGR of 6.34% between 2022 and 2027.
This Irish whiskey market report extensively covers market segmentation by distribution channel (offline trade and online trade), type (blended, single malt, single pot still, and single grain), and geography (Europe, North America, APAC, South America, and Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges.
Increasing use of online sales channels for selling alcohol is driving the global Irish whiskey market growth. There is a growing preference among consumers for online channels as it offers a wide range of choices to consumers in addition to online shopping conveniences. Moreover, consumers are able to compare prices on online platforms. Factors such as increasing preference of online channels for purchasing products by consumers and the rising presence of strong online distribution channels and platform providers are expected to significantly contribute to the market growth. One of the main advantages of online platforms is that the vendors can add videos, provide full descriptions and unique product properties, and present their products in a more attractive manner. Hence, such factors are expected to drive the global Irish whiskey market growth during the forecast period.
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Our researchers analyzed the data with 2022 as the base year, along with the key trends, and challenges. A holistic analysis of drivers, trends, and challenges will help stakeholders in the value chain refine their marketing strategies to gain a competitive advantage.
Growing preference for organic whiskey is expected to have a positive impact on the global Irish whiskey market in the coming years. The desire for lower-alcohol versions and organic whiskeys among health-conscious consumers is also fueling the growing demand for Irish whiskeys. The majority of the demand for Irish whiskeys comes from rapidly expanding emerging economies.
As a consequence of this, there has been a significant rise in the demand for organic whiskeys from Europe and other nations. Several well-known businesses, such as Bainbridge Organic Distillers, have developed novel artisan-distilled spirits by cultivating wheat, barley, triticale, and maize that have been certified organic by the USDA and are intended for use in the distillery. As a result, the flawlessness of their grains is reflected in the high quality of each of their products. As a result, the growth of the global Irish whiskey market is anticipated to be fueled by these factors over the forecast period.
Growing health awareness among consumers will be a major challenge for the global Irish whiskey market during the forecast period. There is a growing preference for healthier drinks over alcoholic beverages due to the increase in health awareness and the tendency to adopt healthy lifestyles among the US population. As a result, it has become a major challenge and is expected to pose as a significant threat to the Irish whiskey vendors.
Furthermore, the wide availability of other potential substitutes and the awareness about their health benefits among consumers can negatively impact the demand for Irish whiskey. Additionally, the growing awareness campaigns by the government and health institutions have educated the masses about the perils of drinking alcohol. Hence, such factors are expected to hinder the global Irish whiskey market growth during the forecast period.
The market research report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Irish Whiskey Market Customer Landscape
Vendors 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 Irish whiskey market report also includes detailed analyses of the competitive landscape of the market and information about 12 market vendors, including:
Qualitative and quantitative analysis of vendors 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 vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
The taste and smoothness of the blended segment are fuelling the demand for this segment which, in turn, increases the market growth. The process of creating a blended segment involves the mixing of single malt whiskeys from the same distillery or from different distilleries. One of the prominent brands of blended Irish whiskey is Jameson, which is the leading brand in the market in terms of sales and global popularity. Some of the main reasons for the growing preference of blended Irish whiskey among consumers is due to their taste and smoothness which is expected to drive the growth of this segment which in turn will fuel the global Irish whiskey market growth during the forecast period.
The growing popularity of the single malt segment is expected to fuel the global Irish market growth during the forecast period. The manufacturing process of single malt involves the distillation of barley malt in a pot still. Single malt is widely available in double and triple distillation. Factors such as increasing modernization, disposable income, and population growth are significantly contributing to the growth of this segment. Additionally, single malt is commonly preferred drink at several parties as well as other public events. Hence, such factors are expected to drive the growth of this segment which in turn will fuel the global Irish whiskey market growth during the forecast period.
The offline trade segment is estimated to witness significant growth during the forecast period. Individual retailers, supermarkets, and hypermarkets are some of the common offline trade distribution channels for Irish whiskey. One of the main advantages of this distribution channel is that they enable consumers to choose from different varieties of Irish whiskey, unlike online platforms which have a specific section for different brands of Irish whiskey.
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The offline trade segment was the largest segment and was valued at USD 2,565.54 million in 2017. Some of the prominent hypermarkets and supermarkets that provide different brands of Irish whiskey across the world are Tesco Plc (Tesco), Carrefour SA (Carrefour), and Target Brands. Furthermore, there is a growing preference for consumers to buy liquor from various liquor stores, as these stores have varieties of brands and flavors of drinks. Hence, such factors are expected to drive the growth of this segment which in turn will drive the global Irish whiskey market growth during the forecast period.
The growing consumption of Irish whiskey among the millennial population is fuelling the online trade segment growth in the global Irish whiskey market. This segment mainly comprises of establishments that allow customers to consume Irish whiskey at the place of purchase. Some of the key examples include Bars, pubs, clubs, restaurants, and hotels. One of the significant factors which are fuelling the growth of this segment is the rising consumption of Irish whiskey by the millennial population. Nightlife and pubbing are becoming a trend among the millennial population which is significantly contributing to the market growth. Hence such factors are expected to drive the growth of this segment which in turn will drive the global Irish whiskey market growth during the forecast period.
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Europe is estimated to contribute 34% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The growing preference for Irish whiskey as an alcoholic beverage among consumers in Europe is significantly contributing to the global Irish whiskey market growth in the region. But, even though, there is a major increase in the demand for Irish whiskey, the growing health concerns among the Europen population regarding the consumption of Irish whiskey can hinder the market growth to a certain extent. For instance, as per the World Health Organization (WHO), alcohol consumption is the third-most leading risk factor for disease and mortality in Europe. As a result, several European countries are emphasizing reducing alcohol consumption. Hence, such factors are expected to influence the global Irish whiskey market growth in the region during the forecast period.
In 2020, during the COVID-19 pandemic, the growth of the global Irish whiskey market witnessed a significant slowdown due to the closure of restaurants, pubs, and other dining stores, resulting in a decline in demand for alcoholic beverages. Additionally, production and distillery facilities for whiskeys were also shut down which also impacted the market. However, in 2021, the initiation of large-scale vaccination drives lifted the lockdown and travel restrictions, which led to the reopening of pubs, cafes, and restaurants. Such factors are expected to drive the market during the forecast period.
The Irish whiskey market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Irish Whiskey Market Scope |
|
Report Coverage |
Details |
Page number |
155 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 6.34% |
Market growth 2023-2027 |
USD 2,105.64 million |
Market structure |
Concentrated |
YoY growth 2022-2023(%) |
5.81 |
Regional analysis |
Europe, North America, APAC, South America, and Middle East and Africa |
Performing market contribution |
Europe at 34% |
Key countries |
US, India, Germany, Ireland, and Russia |
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
Key companies profiled |
Asahi Group Holdings Ltd., Bacardi Ltd., Becle SAB de CV, Brown Forman Corp., Diageo Plc, Irish Distillers International Ltd., Pernod Ricard SA, Quintessential Brands Group, Suntory Holdings Ltd., Teeling Whiskey Co. Ltd., West Cork Distillers 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. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Distribution Channel
7 Market Segmentation by Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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