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Whiskey market is set to grow at a 6% CAGR

 The unprecedented COVID-19 pandemic has had a major impact on the global economy. Considering one of the most important sectors of the economy, the food industry, it has a huge impact on the entire process, from the field to the consumer. Restrictions on movement of workers, closures of food production facilities and changing consumer demand are putting undue pressure on the food industry.

This report provides actionable and valuable market insights for whiskey. The latest report from Fact.MR provides details on the current market scenario in various regions along with historical data and forecasts of the market. The report also includes information on sales and demand for the Whiskey market across various industries and regions.

Request a sample to stay ‘ahead’ your competitors –   https://www.factmr.com/connectus/sample?flag=S&rep_id=4515

Market research conducted by Fact.MR provides exclusive information on how the market will grow. The study identifies important trends determining the growth of the whiskey market. This newly published report sheds light on important dynamics such as drivers, restraints and opportunities for key market players and emerging players involved in production and supply. The latest report from Fact.MR provides a detailed market analysis of whiskey.

This newly published insightful report provides information on Whiskey Market Insights, key dynamics, impact on the entire value chain from suppliers to end users, and growth of the Whiskey Market .

Market Snapshot

The global market for whiskey is growing rapidly in 2021, with global revenues reaching up to  US$60 billion . According to new forecasts from Fact.MR, whiskey revenues are expected to nearly double between 2021 and 2031, reaching nearly $108 billion in 2031 at a  compound annual growth rate (CAGR) of 6% .

Main sectors covered

· Grain types

  • malt whiskey
  • wheat whiskey
  • rye
  • corn whiskey
  • blended whiskey
  • Other Grain Whiskey

· quality

  • premium whiskey
  • premium premium whiskey
  • super premium whiskey

competitive landscape

Strategic cooperation to increase production and meet consumer demand will increase the manufacturer’s sales and market share. New technologies and products will bring malt-based products to end users in the future.

  • On August 10, 2021, Glenfiddich switched its delivery vehicle to eco-friendly biogas made from whiskey residue. Glenfiddich, a single malt Scotch whiskey owned by William Grant & Sons, launched a sustainability initiative by using biogas produced from distillation residues to power delivery vehicles.
  • Likewise, on August 10, 2021, Beam Suntory officially launched Indian whiskey abroad for the first time in Korea. The company announced that it is committed to expanding its business by launching five premium spirits in northern India as part of its goal of reaching US$1 billion  by 2030 .

Key Implications of Global Whiskey Market Research

  • Whiskey made from blended grains continues to drive market demand and presents promising growth opportunities. Blended whiskey products will grow 1.4 times during the forecast period. This can be attributed to the high availability and consumer consistency of alcoholic beverage selection.
  • Premium whiskey brands will regularly attract more attention amid growing consumer preference for these types. The price/quality ratio of premium whiskey is the driving force behind the popularity of premium whiskey worldwide. The premium premium category offers lucrative growth opportunities with a CAGR of over 7.5%.
  • South Asia and Oceania remain the largest demand generators during the forecast period. Demand will increase 1.8 times in this region during the forecast period. There is tremendous potential for market participants to take advantage of the emerging urban culture in countries like India.
  • The market is poised for rapid expansion in the developing world, where large consumer segments purchase premium, premium and super premium whiskeys.

“Finished whiskeys in spent casks of sherry, ren, cognac, wine and other whiskeys are creating an emerging market of different flavors. The challenge for manufacturers is to create reliable blends that can be produced at scale while still appealing to consumers. The global whiskey market is shifting its focus to developing countries to capitalize on the growth and development of infrastructure and to increase the number of new consumers.” -Fact MR Analyst

Read More Insights: https://www.factmr.com/report/4515/whisky-market 

Expand your consumer base with new blends

Manufacturers are experimenting with innovative product launch technologies and new whiskey blends to attract and engage millennial consumers. Investments in partnerships with stakeholders in the value chain (local distributors, importers, exporters) are anticipated as manufacturers focus on increasing their global footprint. The growth of the global whiskey market is driven by the rapid adoption of urban lifestyles by new millennial consumers. Market participants are investing in research and development of new flavors, blends and quality types to match dynamic purchasing patterns. Developing consumer communities using digital media channels can drive demand and increase revenue.

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