Global Single Malt Whiskey Market Size, Share, Opportunities, And Trends By Product (Scotch Whiskey, American Whiskey, Irish Whiskey, Other), By Application (Supermarkets And Hypermarkets, On-Trade, Specialist Retailers, Online, Convenience Store), And By Geography - Forecasts From 2023 To 2028
- Published : Mar 2023
- Report Code : KSI061614529
- Pages : 145
Single Malt Whiskey is a term used to describe malt whisky produced by a certain distillery. With its subtle and refined taste nuances, blended single malt is a combination of wheat and single malt whisky that is a favorite among customers. As a result, it is anticipated that the Single Malt Whiskey market would expand quickly due to an increase in exports.
The primary ingredients in organic whisky are grains such as malt wheat, cereals, wheat, and rye. Both developed and developing economies have a significant demand for luxury and ultra-premium whiskies. Moreover, shifts in consumer lifestyles as well as the rising popularity of socializing and midweek/weekend events among many young professionals are having an impact on the market's expansion. Whisky is frequently associated with the desire to present oneself as classy and refined in front of peers, which has led customers to seek out unusual and cutting-edge drinking experiences.
To make whiskey more approachable and relevant to the youth audience, many whiskey producers are changing their marketing tactics. Thirstie has shown a strong commitment to compliance from the inception of its unique platform, offering a three-tier compliant branded e-commerce solution for beverage alcohol producers. Thirstie developed the solution, which uses a sophisticated retail algorithm to dynamically evaluate product availability based on prices established by retail partners and tax computations depending on market conditions. The front-end technology of Thirstie offers adult users a distinctive brand experience.
The increase in whisky demand brought on by Premiumization is what fuels the market's expansion.
The whisky market is anticipated to develop as a consequence of the increased demand for high-premium whiskies brought on by changing consumer preferences, an increase in the worldwide quality of living, and a preference for innovative goods. Luxury whisky businesses have started to construct precise social media platforms to increase customer reach to engage tech-savvy millennial consumers who demand more for their money, more customization, and integrated digital access. In addition, generations have valued quality, authenticity, and provenance and are prepared to pay extra to experience these things. Because youthful drinkers are more likely to experiment with their alcoholic beverages, "cocktail culture" has essentially become more popular.
This development has increased the use of whisky as a component, driving the single malt whisky market's expansion.
Health awareness among consumers has led to a rapidly increasing single-malt whiskey market.
Health-conscious consumers' predilection for whisky with natural ingredients is driving the industry forward. People also like premium goods since there is an increasing emphasis on healthy living in the neighborhood. Also, the market's leading competitors have launched a brand-new organic whisky trend. Companies like Bainbridge Organic Distillers, for instance, have created artisan-distilled spirits using wheat, barley, triticale, and corn that were specifically grown for their distillery and are USDA-certified organic. The success of each of their brands is a true testament to the superiority of their grains.
Over the projection period, North America is expected to continue to have a significant market position in the worldwide single-malt whisky market.
Being the world's largest importer of scotch whisky and due to its rising popularity, North America is predicted to see a considerable increase in the Single Malt Whiskey market. The majority of Single Malt Whiskey distilleries contributed to market expansion, with the United States being the leading Single Malt Whiskey importer. Asia Pacific is the market that is expanding at the highest rate because of shifting consumer lifestyles and increased urbanization. Due to the growth in disposable income and the increasing adoption of westernized culture, consumers have shifted to premium spirits. These factors have contributed to the considerable growth of the single malt whisky market in the area.
Market Key Developments
- In September 2022, Benriach Single Malt Scotch Whisky and Thirstie, the top online retailer for beverage alcohol brands, announced their cooperation and the opening of the brand's online store for US customers. Among the distinguished spirits portfolio of Brown-Forman, Benriach is the first brand to provide a branded online purchasing experience in the United States.
- In February 2022, Paul John from India raised the bar once more with a fantastic single malt whisky Mithuna.
- In August 2021, To increase the Chinese whisky market, Pernod Ricard, one of the country's leading whisky producers, opened THE CHUAN Blended Whisky Brewery in Emeishan, Sichuan Province, in southwest China. during ten years, with an investment of 1 billion yuan ($150 million). The company claims that the newly released whisky has deep roots in Chinese culture and daily life.
- By Product
- Scotch Whiskey
- American Whiskey
- Irish Whiskey
- By Distribution Channel
- Supermarkets and Hypermarkets
- Specialist Retailers
- Convenience Store
- By Geography
- North America
- South America
- Middle East and Africa
- Saudi Arabia
- Asia Pacific
- South Korea
- North America
1.1. Market Overview
1.2. Market Definition
1.3. Scope of the Study
1.4. Market Segmentation
1.7. Base, and Forecast Years Timeline
2. RESEARCH METHODOLOGY
2.1. Research Data
3. EXECUTIVE SUMMARY
3.1. Research Highlights
4. MARKET DYNAMICS
4.1. Market Drivers
4.2. Market Restraints
4.3. Porter’s Five Force Analysis
4.3.1. Bargaining Power of Suppliers
4.3.2. Bargaining Power of Buyers
4.3.3. Threat of New Entrants
4.3.4. Threat of Substitutes
4.3.5. Competitive Rivalry in the Industry
4.4. Industry Value Chain Analysis
5. GLOBAL SINGLE MALT WHISKEY MARKET, BY PRODUCT
5.2. Scotch Whiskey
5.3. American Whiskey
5.4. Irish Whiskey
6. GLOBAL SINGLE MALT WHISKEY MARKET, BY DISTRIBUTION CHANNEL
6.2. Supermarkets and Hypermarkets
6.4. Specialist Retailers
6.6. Convenience Store
7. GLOBAL SINGLE MALT WHISKEY MARKET, BY GEOGRAPHY
7.2. North America
7.2.1. United States
7.3. South America
7.4.1. United Kingdom
7.5. The Middle East and Africa
7.5.1. Saudi Arabia
7.6. Asia Pacific
7.6.4. South Korea
8. COMPETITIVE ENVIRONMENT AND ANALYSIS
8.1. Major Players and Strategy Analysis
8.2. Emerging Players and Market Lucrativeness
8.3. Mergers, Acquisitions, Agreements, and Collaborations
8.4. Vendor Competitiveness Matrix
9. COMPANY PROFILES
9.2. Beam Suntory
9.5. Pernod Ricard
9.6. Asahi Breweries
9.8. Gruppo Campari
9.9. John Distilleries
9.10. Radico Khaitan
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