According to the research report titled ‘Whiskey Market Size By Product (Scotch Whiskey, American Whiskey, Canadian Whiskey, Irish Whiskey, Other Whiskey), By Distribution Channel (On-Trade, Off-Trade), Industry Analysis Report, Country Outlook Application Development, Covid-19 Impact Analysis, Price Trends, Competitive Market Share & Forecast, 2021 – 2027,’ available with MarketStudyReport, global whiskey market is speculated to record monumental growth during 2021-2027.

Soaring number of whiskey-manufacturing distilleries, elevated consumer demand for premium alcoholic beverages, and rising proportion of restaurants, bars & pubs are variables contributing to the proliferation of global whiskey industry.

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Besides, blossoming of tourism sector, coupled with the increasing proportion of millennial population prompting subsequent spending on liquor is expected to generate profitable opportunities for enterprises in this arena. Also, the speedy adaptation to the consumer demand of craft whiskey by key players is further bolstering the industry development.

Nonetheless, the complexities involved in direct marketing & advertising of alcoholic beverages are likely to impede the progress of business sphere during the forecast period.

Based on product type, the other segment was worth USD 20 billion in 2020 and is estimated to develop at 6% CAGR during the review period. 

In terms of distribution channels, worldwide whiskey industry is categorized into on-trade and off-trade verticals. 

From a regional standpoint, Latin America market generated a revenue of USD 5 billion in 2020 and is poised to expand at 6.2% CAGR during the stipulated timeline, attributed to the soaring exports of Scotch whiskey across international borders. 

Meanwhile, Middle East & Africa whiskey industry is predicted to develop at 5.1% CAGR accruing a valuation of USD 3 billion by 2027, backed by the massive consumption of alcohol, particularly in the African countries. 

The notable players in market include Moet Hennessy Louis Vuitton (LMVH), Diageo plc, La Martiniquaise, Pernod Ricard, King Car Group (Kavalan Distillery), William Grant and Sons Ltd., Constellation Brands Inc., Suntory Holdings Limited., Bacardi Limited, Brown Forman Corporation, Angus Dundee Distillers plc, and Allied Blenders and Distillers Pvt. Ltd. among others.