Global Whiskey Market to grow at a CAGR of 6.5% by 2028| William Grant and Sons, Black and White, Diageo

Market Overview:
Global Whiskey Market was valued at USD 66.13 billion in 2021 and is expected to reach USD 102.77 billion by the year 2028, at a CAGR of 6.5%.

Whiskey is an alcoholic beverage produced by fermenting malted barley, rye, wheat, or corn grain mash. It is commonly aged in wooden barrels and consumed for recreation and refreshment. Scotch whisky, grain whisky, blended whisky, and Irish and American whisky are among the most popular types of whisky. The rising accessibility of whisky and the rising demand for premium whisky are the primary growth drivers of the whisky market. The substantial demand for premium and ultra-premium whiskies in both developing and developed nations is the primary driver of the whisky market.

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Market Dynamics:
Driver:
The increasing number of innovations in whisky products, including various flavors and product quality, as well as the easy accessibility of the product to the global middle class, is expected to drive the global market demand. In recent years, global manufacturers' investments in the research and development of whisky products and efforts to promote whisky as a better source of digestible protein are likely to have accelerated the global adoption of these products. Moreover, the rapid growth in the retail sector and the high development of various online retailing portals, which allow customers to make hassle-free purchases of whisky products, as well as the significant increase in promotional activities conducted by key market companies to attract consumer attention, are further driving the market's expansion.

Opportunities:
The major players engaged in the development of new products that create the opportunity for the Whiskey market during the forecast year. For Instance, In July of 2021, Glenfiddich (parent company William Grant & Sons) launched a new sustainable transport technology model that converts its whisky waste into ultra-low carbon fuel (ULCF). Which contributes to the reduction of carbon dioxide and other harmful emissions.

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Market Segmentation
By Source Type
• Malt Whiskey
• Wheat Whiskey
• Rye Whiskey
• Corn Whiskey
• Blended Whiskey
• Others

By Quality Types
• Premium
• High End Premium
• Super Premium
By Distribution Channel
• Bars & Restaurants
• Liquor Stores
• Supermarkets
• E-Commerce

Regional Analysis
Asia Pacific dominates the whiskey market due to rapidly growing population, increased demand for alcoholic drinks, adequate production of grains with compare to other region, developments in food and beverage industry, rapid urbanizations and economic developments in nations like India, China and Indonesia are factors leads to growth of the whiskey market.

By Region
• North America (U.S., Canada, Mexico)
• Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
• Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of APAC)
• Middle East & Africa (Turkey, Saudi Arabia, Iran, UAE, Africa, Rest of MEA)
• South America (Brazil, Argentina, Rest of SA)

Players Covered in Whiskey market are :
• William Grant and Sons
• 8PM
• Allied Blenders and Distillers Pvt Ltd.
• Johnny Walker
• Black and White
• Diageo
• Jack Daniels
• Brown Forman
• La Martiniquais
• Suntory Holdings Ltd.
• Constellation Brand Inc.
• Haig
• McDowell's
• King Car Group
• Bacardi Ltd.
• Jim Beam
• United Breweries
• VAT 69

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Key Industry Developments:
In July 2021, Glenfiddich (parent company William Grant and Sons) announced to launch new sustainable transport technology model which convert its whiskey waste material to ultra-low carbon fuel (ULCF). Which helps to minimize carbon dioxide and other harmful emission.
In March 2019, Suntory Holdings Ltd., announced that they launched new whiskey brand Legent. It is a unique innovation that consist of Kentucky Straight Bourbon with the Beam classic family recipe and is venerable in wine and sherry casks before being blended with more Kentucky Straight Bourbon, resulting in a perfectly balanced yet complex and layered whiskey that is truly exceptional.

Report includes Competitor's Landscape:
• Major trends and growth projections by region and country
• Key winning strategies followed by the competitors
• Who are the key competitors in this industry?
• What shall be the potential of this industry over the forecast tenure?
• What are the factors propelling the demand for the Action Figures And Statues?
• What are the opportunities that shall aid in significant proliferation of the market growth?
• What are the regional and country wise regulations that shall either hamper or boost the demand for Action Figures And Statues?
• How has the covid-19 impacted the growth of the market?
• Has the supply chain disruption caused changes in the entire value chain?

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https://introspectivemarketresearch.com/reports/non-alcoholic-drinks-market/
https://introspectivemarketresearch.com/reports/non-alcoholic-wine-and-beer-market/

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