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The Japanese whiskey market size is projected to increase by USD 614.15 million and the market size is estimated to grow at a CAGR of 9.49% between 2022 and 2027. This Japanese whiskey market report extensively covers market segmentation by distribution channel (on-trade and off-trade), end-user (commercial and residential), and geography (APAC, North America, Europe, South America, and Middle East and Africa). Our report examines historic data from 2017 to 2021, besides analyzing the current market scenario.
One of the key factors driving the Japanese whiskey market growth is the increasing use of online sales channels for selling alcohol. The availability of online stores and online specialty retailers offers a wide range of choices to consumers in addition to online shopping conveniences. In addition, consumers are more comfortable with online shopping, wherein they can compare prices. Moreover, the increasing use of online channels for purchasing products, including Japanese whisky, is likely to drive the growth of the Japanese whisky market in India. Furthermore, the presence of strong online distribution channels and platform providers is expected to boost the growth of online sales. Hence, such factors are positively impacting the Japanese - whiskey market. Therefore, it is expected to drive the marekt growth during the forecast period.
The Japanese Whiskey Market shows an accelerated CAGR during the forecast period.
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A key factor shaping the Japanese whiskey market growth is the growing preference for organic whisky. The market is fuelled by a need for diversity in Japanese whisky from fast-growing emerging economies, as well as a desire for lower alcohol variants and organic whisky among health-conscious users. Moreover, with a growing emphasis on healthy living across the world, many favor these types of whisky.
As a result, it has led to a rise in the demand for organic whisky from Europe and other nations across the world. Companies like Bainbridge Organic Distillers have created artisan-distilled spirits using USDA-certified organic wheat, barley, triticale, and maize cultivated specifically for their distillery, and the quality of each of their products is a direct reflection of the perfection of their grains. Hence, the growing preference for organic whisky will drive the growth of the global Japanese whisky market during the forecast period.
Growing health awareness among consumers are one of the key challenges hindering the Japanese whiskey market growth. The growing health awareness and tendency to adopt healthy lifestyles among millennials have encouraged low alcohol consumption and a move from alcoholic beverages to healthier drinks and other beverages. As a result, it has become a challenge for the global Japanese whisky market as its growth is mitigated by the increasing population shift from drinking whisky.
Moreover, the widespread availability of other substitute products, including Irish whisky and Scotch whisky, along with their widespread availability, has enabled them to take over the share of the whisky market. In addition, the rising awareness campaigns by the government and health institutions have also reinforced the process of educating the masses about the perils of drinking alcohol. Furthermore increasing health awareness has enabled the exponential growth of the non-alcoholic drinks markets which led to a decline in the sales of alcoholic beverages globally, which can hinder the growth of the global Japanese whisky market during the forecast period.
The growing popularity of Japanese whiskey in the commercial segment will increase the market growth. Bars and restaurants often offer Japanese whisky on their drink menus to cater to customers' growing interest in premium and unique spirits. In addition, Japanese whisky has a reputation for reputation for quality and craftsmanship making it an attractive choice for establishments looking to offer a diverse and sophisticated selection of beverages. Moreover, several luxury hotels and high-end hospitality establishments may offer Japanese whisky as part of their premium beverage offerings. Furthermore, Japanese whisky can be included in catering services and event planning, adding a touch of elegance and refinement to corporate events, weddings, and other special occasions. Hence, such factors are fuelling the growth of this segment which in turn will drive the market growth during the forecast period.
The on-trade segment is estimated to witness significant growth during the forecast period. There is a growing popularity for Japanese whisky across the world, and its on-trade distribution (availability in bars, restaurants, and other establishments) has expanded to cater to the growing demand. In addition, Japanese whisky has gained a reputation for its craftsmanship, quality, and unique flavor profiles. Therefore, it had become sought after by whisky enthusiasts, leading to an increase in on-trade distribution in bars and restaurants around the world.
The on-trade segment was the largest segment and was valued at USD 581.65 million in 2017
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Moreover, Japanese whiskies were commonly found in high-end establishments and specialty whisky bars, particularly those with extensive whisky collections. In addition, these venues often provided a wide selection of Japanese whisky brands and expressions to cater to connoisseurs and curious customers alike. Furthermore, numerous Japanese whiskies received international accolades and awards, further fueling interest in the premium whisky category and driving its on-trade segment, which will propel the growth of the global market during the forecast period.
APAC is estimated to contribute 72% to the growth of the global market during the forecast period
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Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. Japanese whisky has become highly demanded by consumers in various Asian countries, such as India and Japan, contributing to a rise in demand and interest. In addition, the APAC region witnessed a growing appreciation for Japanese whisky in the past couple of years, fuelled by factors like its unique flavor profiles, craftsmanship, and the allure of Japanese culture. Therefore, these factors will strengthen the growth of the regional Japanese - whiskey market during the forecast period. China emerged as one of the most prominent markets for Japanese whisky in the APAC region. Furthermore, China emerged as one of the most prominent markets for Japanese whisky in the APAC region. The country's expanding middle class and growing interest in luxury products contributed to the increase in demand. Hence, such factors are driving the marekt growth in the region during the forecast period.
In 2020, during the COVID-19 pandemic, the growth of the global Japanese whiskey market witnessed a significant slowdown due to the closure of restaurants, bars, and hotels in APAC. However, in 2021, the initiation of large-scale vaccination drives lifted the lockdown and travel restrictions, which led to the resumption of restaurants, bars, and hotels . Such factors are expected to drive the market 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 Japanese whiskey market report also includes detailed analyses of the competitive landscape of the market and information about 11 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 Japanese 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.
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Japanese Whiskey Market Scope |
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Report Coverage |
Details |
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Page number |
139 |
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Base year |
2022 |
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Historic period |
2017-2021 |
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Forecast period |
2023-2027 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 9.49% |
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Market growth 2023-2027 |
USD 614.15 million |
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Market structure |
Concentrated |
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YoY growth 2022-2023(%) |
9.03 |
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Regional analysis |
APAC, North America, Europe, South America, and the Middle East and Africa |
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Performing market contribution |
APAC at 72% |
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Key countries |
US, Japan, Taiwan, Australia, and UK |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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Key companies profiled |
Asahi Group Holdings Ltd., Honbo Sake Brewery Co. Ltd., KAIYO JAPANESE MIZUNARA OAK WHISKY, Kamiki Whisky, Kirin Holdings Co. Ltd., Komasa Kanosuke Distillery Co. Ltd., Matsui Shuzo An Unlimited Partnership, SHIN Group Corp., Suntory Holdings Ltd., Tokuoka Co. Ltd., and Umiki |
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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. |
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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 End-user
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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