According to the research report titled ‘Global Irish Whiskey Market Size study, by Product Type (Single Malt, Single Grain, Pot Still, and Blended), Distribution Channel (Specialty Stores, Hypermarkets & Supermarkets, Duty-free Stores, Restaurants & Bars, Online, and Others) and Regional Forecasts 2021-2027’, available with Market Study Report, global Irish whiskey market was worth USD 4.66 billion in 2020 and is speculated to be remunerated at USD 8.70 billion by 2027, expanding at 9.32% CAGR between 2021-2027.
 

Growing number of young people worldwide, and surging demand for high-end premium & super premium blends are key factors spurring global Irish whiskey market expansion. Frequent consumption at public occasions and parties will facilitate industry growth as well.
 

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As per the International Wines and Spirits Record (IWSR), 27.6 billion alcohol cases of nine-liters each were consumed worldwide in 2018. It also predicts that overall alcohol consumption will reach 28.5 billion cases by 2023.
 

For the unversed, Irish whiskey is made by distilling a mixture formulated by alcoholic fermentation of malted barley. It is an alcoholic beverage that is distilled thrice and is known for its sweet, smooth, and mellow flavor.
 

The report also cites that innovations such as launch of new whiskey-based cocktails will aid market augmentation. Moreover, whiskey consumption is estimated to rise at 5.7% CAGR between 2018-2023 which will contribute to worldwide Irish whiskey industry growth in the upcoming years.
 

On the other hand, growing number of awareness campaigns about ill-effects of alcohol consumption and strict restrictions & regulations implemented by governments are poised to hinder market proliferation.
 

Regionally speaking, North America held majority of global Irish whiskey industry share in the recent past, due to rising alcohol consumption, and high population. Meanwhile, Asia Pacific market is anticipated to record considerable expansion through 2027, owing to growing disposable income, fast-paced urbanization, and rising number of pubs, clubs, and restaurants.      
 

Key players profiled in the report are Teeling Distillery, Jameson, Old Bushmills Distillery Co. Ltd., The Brown-Forman Corporation, Knappogue Castle Irish Whiskey, Diageo plc, West Cork Distillers, Pernod Ricard, Castle Brands Inc., and William Grant & Sons Ltd.