NEW YORK, Jan. 24, 2022 /PRNewswire/ -- As per the latest research report, "Whiskey Market by Product, Distribution Channel, and Geography - Forecast and Analysis 2021-2025", the increasing number of new product launches by the players is notably driving the whiskey market growth.
The existence of various major, small, and medium-sized manufacturers characterizes the worldwide whiskey market. The majority of large and established firms have global sales and distribution networks, whilst the majority of minor players are focused on regional markets. Price, quality, technology, brand identification, and distribution are all factors that vendors compete on.
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Key Whiskey Market Report Highlights:
Market growth 2020-2025: USD 28.67 billion
Growth momentum & CAGR: Accelerate at a CAGR of 5.64%
YoY growth (%): 5.00%
Performing market contribution: APAC at 51%
Key consumer countries: India, US, Thailand, Canada, France, and the UK
Regional Market Analysis
With 51% of the growth originating from APAC, this region will record a fast growth rate during 2021-2025. India and Thailand are the key markets for whiskey in APAC. Market growth in APAC will be faster than the growth of the market in other regions.
The growing demand for whiskey can be attributed to a variety of factors like rising disposable incomes, westernization, and lifestyle changes. Emerging economies have a large population and rising disposable incomes, making this a good market for whiskey.
India held the greatest share of the global whiskey market in 2016, and it is likely to continue to do so over the forecast period. The rise of the whiskey market in APAC is being fueled by rising disposable income, the growing appeal of western culture, and the introduction of novel whiskey tastes.
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Key Vendors and Vendor Strategies
Bacardi Ltd., Beam Suntory Inc., Brown Forman Corp., Constellation Brands Inc., Davide Campari Milano Spa, Diageo Plc, LVMH Moet Hennessy Louis Vuitton, Pernod Ricard SA, William Grant and Sons Ltd., Allied Blenders, and Distillers Pvt. Ltd. are a few of the key vendors in the whiskey market.
The vendors in the market are constantly focusing on broadening their product portfolio through expanding their product offerings. Additionally, vendors are focusing on expanding their presence in new regions.
Allied Blenders and Distillers Pvt. Ltd., the company offers Stering, Officers choice blue and others.
Bacardi Ltd., the company offers Maestros de Ron BACARDÍ.
Brown Forman Corp., the company offers popular brand Jack Daniels Tennessee Whiskey .
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Key Market Drivers
Our analysts have extensively outlined the information on the key market drivers and their impact on the Whiskey Market.
New product launches:
Key Market Trends
Increasing demand for Irish whiskey and American bourbon
To know about a few other market drivers, trends, and challenges,
Whiskey Market Scope
Growth momentum & CAGR
Accelerate at a CAGR of 5.64%
Market growth 2021-2025
$ 28.67 billion
YoY growth (%)
APAC, North America, Europe, South America, and MEA
Performing market contribution
APAC at 51%
Key consumer countries
India, US, Thailand, Canada, France, and the UK
Leading companies, Competitive strategies, Consumer engagement scope
Key companies profiled
Bacardi Ltd., Beam Suntory Inc., Brown Forman Corp., Constellation Brands Inc., Davide Campari Milano Spa, Diageo Plc, LVMH Moet Hennessy Louis Vuitton, Pernod Ricard SA, William Grant and Sons Ltd., and Allied Blenders and Distillers Pvt. Ltd.
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period
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