Whiskey Market Incredible Potential Examined In New Market Research Report 2018Posted by pooja paralkar on March 24th, 2020 The joy of fermented grain mesh, whiskey is an alcoholic drink which makes use of grains such as barney, wheat and corn. And, between 2018 and 2026, these drinks aged in wooden oak (white) barrels are set to charge a decent CAGR (Compound Annual Growth Rate), creating some very profitable growth opportunities. Players in the market would leave no stone unturned to make the most of these and that in turn would lead to increase in worth of the lucrative global whiskey market.
Some of the notable trends and developments are mentioned below. These are going to drive much growth in the global whiskey market.
Whiskey is an alcoholic drink made from fermented grain mash. Some of the popularly used grains for manufacturing of whiskey are rye, barley wheat and corn. Typically this grains are aged in wooden white oak barrels which gives it a unique taste.
An upcoming Transparency Market Research report on the whiskey market promises to cover all essential details that could help bolster growth in the future. The report covers key trends, challenges, geographical distribution, and the competitive landscape of the global whiskey market.
In October 2018, La Martiniquaise collaborated with Bardinet S.A., a Scotland-based cider manufacturing company to produce a single-malt whiskey. This will help La Martiniquaise to strengthen its foothold in U.K.
Apart from this, key players such as Jack Daniel is introducing flavored whiskey such as Tennessee Honey and Fireball Cinnamon Whiskey to widen its consumer pool.
Further, top players in the whiskey market are including exclusive products in their portfolios to target upper class consumer and use locally-grown grains and spices to impart a distinct taste and flavor in offerings.
Some of the key players operating in the whiskey market are Angus Dundee Distillers Plc., Allied Blenders and Distillers Pvt. Ltd., Pernod Ricard, Bacardi Limited, Brown-Forman, Diageo, Suntory Holdings Ltd., Asahi Group Holdings, and La Martiniquaise.
The global whiskey market is expected to witness a strong growth on account of increasing consumer base across the globe. Surge in the demand for super-premium drinks in developed countries, such as U.K., France, U.S., and Canada is expected to offer a substantial boost to the whiskey market.
Among with this, revised alcohol laws in U.S. have expanded consumer access and choice. Furthermore, a return of cocktail culture has aided a shift in consumer preferences from beer to more complex and premium whiskey.
Improving economic conditions have helped to increase the demand for expensive whiskey, which has contributed heavily towards revenue growth. Another factor that has aided in the rapid increase in this market is the effort by trade association and spirit manufacturers into pushing states in the U.S. to allow sale on Sundays.
However, one of the major factor expected to affect the growth of the global whiskey market is stringent regulations and high taxation of alcoholic beverage by governments. Whiskey is an alcoholic beverage and it needs to follow various government regulation, this is expected to impede the growth of the market in the coming years.
However, growing clubs and pubs across the globe is a strong factor expected to accelerate the demand for whiskey in the coming year. Along with this, growing consumer bases for alcoholic beverages with distinct flavors and strong tastes is projected to offer lucrative opportunities for the growth of the whiskey market.
Like it? Share it! More by this author |