Meticulous Research® - leading global market research company published a research report titled “American Whiskey Market by Type (Bourbon, Tennessee, Rye Whiskey), Geography (U.S., Canada, Mexico, U.K., Germany, France, Spain, Russia, Poland, Italy, Austria, Switzerland, Australia, Japan, China, India, Brazil, Argentina, Chile) - Forecast to 2025”.
According to this latest publication from Meticulous Research®, the global American whiskey market is expected to grow at a CAGR of 9.9% from 2019 to reach $16.8 billion by 2025. The growth in the American whiskey market is mainly attributed to growing demand for premium American whiskies and the rising number of super-premium and ultra-premium brands, rapid urbanization across the globe, and fast-growing cocktail market. In addition, effective marketing strategies & promotions, growing new product launches, and rising export of American whiskies are the emerging trends positively impacting the market growth during the forecast period. On the other hand, stringent government rules and regulations, change in consumer preferences, and the threat of substitutes - are recognized as the major hurdles to overcome in the American whiskey market.
Growth Prospects in the American Whiskey Market
The global American whiskey market study presents historical market data in terms of values and volume (2017 and 2018), estimated current data (2019), and forecasts for 2025-by type (Bourbon, Tennessee, Rye Whiskey), and geography. The study also evaluates industry competitors and analyzes the market at the regional and country levels.
Based on type, bourbon whiskey is estimated to command the largest share of the overall American whiskey market in 2019. The largest share of bourbon whiskey is due to huge demand from international adult consumers and more exploration of the U.S. spirits, majorly driven by their fascination with American whiskey’s heritage, as well as its mixability and versatility in cocktails. However, Rye Whiskey is expected to grow at the fastest CAGR during the forecast period.
North America commanded the largest share of the global American whiskey market, closely followed by Europe and Asia. The consumer knowledge and their thrust to explore a different variety of premium whiskies is driving the demand for American whiskey. However, the Asia Pacific region is slated to register the fastest growth at a CAGR of 15.2% during the forecast period, primarily due to the growing demand for premium Japanese barrel-aged whiskey, favorable trade policies, and rising demand for the highball- a mix of whiskey and soda served over ice. Increasing consumption in developing countries like India and Australia is further supporting the growth of this market in this region.
The prominent players operating in the American whiskey market are Brown-Forman Corporation (U.S.), Beam Suntory, Inc. (U.S.), Diageo PLC, Davide Campari-Milano S.p.A., Heaven Hill Brands, Sazerac Company, Inc., Kirin Holdings Company Limited, Castle Brands, Tuthilltown Spirits, and Luxco, Inc. among others.
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