Whiskey Market to grow by $ 28.67bn|Key Drivers and Trends|Technavio
The whiskey market size is expected to grow by $ 28.67 bn during 2021-2025, progressing at a CAGR of almost 6%. The report provides thorouh insights on the COVID-19 impact on the market and new business opportunities, if any, during the pandemic period. According to Technavio research experts, we expect the impact to be significant during the first quarter, which should gradually alleviate in subsequent quarters – with a limited impact on the full-year economic growth.
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Whiskey Market Trends & Drivers
The whiskey market research report has a detailed analysis on the key drivers, trends, and challenges, which will help vendors in making important business decisions and modifications to cater to the changing consumer demand. While it is essential to capitalize on key drivers such as new product launches, it is also crucial to understand the challenges that will impede sales during the forecast period. Identifying and addressing market growth challenges will create additional opportunities for the existing and new market players.
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The whiskey market has also explored key trends such as increasing demand for premium single malt whiskey, which will have a significant positive impact on the market growth over the forecast period. A thorough study of the market trends will enable vendors to understand demographics effectively, which can be used to further product and service innovation.
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Whiskey Market: Segmentation Analysis
This market research report segments the whiskey market by Product (Scotch whiskey, American whiskey, Canadian whiskey, Irish Whiskey, and Others), Distribution Channel (Off trade and On trade), and Geography (APAC, North America, Europe, South America, and MEA).
The APAC region led the whiskey market in 2021, followed by North America, Europe, South America, and MEA respectively. During the forecast period, the APAC region is expected to register the highest incremental growth due to factors such as .
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A few of the key topics covered in the report include:
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario