Scottish Whisky Market to Reach US$ 7.89 Billion, Globally, by the End of 2027 - Coherent Market Insights

SEATTLE, March 19, 2020 /PRNewswire/ -- The global Scottish whisky market was valued at US$ 4.97 Billion in 2018, and is expected to exhibit a CAGR of 5.3% over the forecast period (2019-2027).

Whisky is a type of diastilled beverage made up of fermented grain mash. There are many types of whisky, which are further categorized based on their origin and manufacturing process. Scotch whisky in general is a whisky, which is produced at Scotland. It is manufactured from malted barley and other non-malted cereals such as wheat or maize. Global Scottish whisky market was valued at US$ 4.97 Mn in 2018, and is expected to reach US$ 7.89 Mn by 2027, exhibiting a CAGR of 5.3% over the forecast period.

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Market Drivers:

Global Scottish whisky market is expected to be driven by increasing amount of customized services such as ready to drink Scotch whisky cans, which are offered by the market vendors, increasing number of Scotch whisky distilleries, and rising popularity of Scotch whisky-based tourism across the globe. For instance, according to the Scotch Whisky Association, in 2018, European Union was one of the largest markets for Scotch whisky, which accounted for around 36% of total exports in terms of volume.

However, growth of this market is expected to be hampered by availability of substitutes such as Irish whisky. Furthermore, grain whisky mature much rapidly compared to single malt whisky. Thus, increasing demand of single malt whisky cannot be fulfilled, owing to slow maturation process, which is expected to hamper market growth. 

Market Opportunities

The market is expected to witness growth opportunities with increasing demand for aged Scotch whisky. The Scotch Whisky Association has launched Scotch Whisky Action Fund for promoting responsible consumption of alcohol and also tackle alcohol-related harm in Scotland. This organization is responsible for delivering targeted interventions for tackling harm amongst the young people, families, and communities which are impacted by excessive consumption of alcohol.

Key Takeaways:                                                                                                                               

Scotch whisky is categorized into various types such as single malt, blended malt, and single grain, among others. In general, all Scotch whisky must be matured for at least three years and it be fermented by adding yeast only. Although, single malt whisky is matured for about 8-12 years or longer period.

Among distribution channels, off-trade segment is expected to witness significant growth in the global Scottish whisky market over the forecast period. The off-trade segment majorly include supermarket & hypermarkets, discount stores, and online stores. Moreover, whisky is majorly purchased by customers at cheaper rates from the duty-free stores. Premium whiskeys are stored by the customers for certain special occasions, which is further expected to drive growth of the market.

Competitive Section:

Company Names 

• 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
• The Edrington Group

Key Developments:

In March 2019, William Grant & Sons Scotch Whiskey entered into partnership with a block chain tech company Arc-net for releasing new variety  of whiskey capable of capturing full distilling and manufacturing process. This allows the customers to track their whisky from source to the store, ensuring authenticity and traceability.

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Market Segmentations:

• Global Scottish Whisky Market, By Product Type: 
• Single Malt
• Blended Malt
• Blended
• Single Grain
• Blended Grain
• Organic
• Global Scottish Whisky Market, By Price Range: 
• Premium
• High End Premium
• Super Premium
• Global Scottish Whisky Market, By Distribution Channel: 
• On Trade
• Restaurants & Bars
• Liquor Stores
• Others
• Off Trade
• Supermarket & Hypermarket
• Discount Stores
• Online Stores
• Others
• Global Scottish Whisky Market, By Region: 
• North America
• U.S.
• Canada
• Mexico
• South America
• Brazil
• Argentina
• Rest of South America
• Europe
• U.K.
• Germany
• Italy
• Spain
• Russia
• France
• Rest of Europe
• Asia Pacific
• China
• India
• Japan
• South Korea
• ASEAN
• Australia
• Rest of Asia Pacific
• Middle East
• GCC
• Israel
• Rest of Middle East
• Africa
• North Africa
• Central Africa
• South Africa

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SOURCE Coherent Market Insights