Scottish Whisky Market Revenue Trends, Company Profiles, Revenue Share Analysis, And Forecast By 2023-2030 | Diageo Plc., Pernod Ricard, William Grant and Sons Ltd.

The Scottish whisky market is estimated for 2023 for the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:

Scottish whisky refers to malt and grain whiskies produced in Scotland. Scotland is one of the top producers and exporters of whiskey globally. Scottish whisky is known for its smokey flavors due to aging in oak casks.

Market Dynamics:

The Scottish whisky market is expected to witness significant growth over the forecast period owing to increasing tourism and export. According to the Scotland Food & Drink report, the whisky tourism witnessed a 21% year-on-year increase with over 2.18 million tourist visits in distilleries in 2018. This is expected to continue driving the demand for Scottish whisky. Additionally, Scotch Whisky is exported to over 200 countries globally and export figures grew by 6.3% to £4.41 billion in value in 2018. India and USA remain top importers of Scottish whisky and rising popularity in these markets will aid market growth.

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Top Companies Covered In This Report:

★ Diageo Plc.
★ Pernod Ricard
★ William Grant and Sons Ltd.
★ Bacardi Limited
★ Bowmore Distillery
★ Suntory Beverage & Food Limited
★ Brown-Forman Corporation
★ LVMH
★ Isle of Arran Distillery
★ La Martiniquaise
★ The Edrington Group

*Disclaimer: Major Players are sorted in no particular order.

Detailed Segmentation:

By Product Type:

★ Single Malt
★ Blended Malt
★ Blended
★ Single Grain
★ Blended Grain
★ Organic

By Price Range:

★ Premium
★ High End Premium
★ Super Premium

By Distribution Channel:

★ On Trade
★ Off Trade

Key Region/Countries are Classified as Follows:

◘ North America (United States, Canada, and Mexico)
◘ Europe (Germany, France, UK, Russia, and Italy)
◘ Asia-Pacific (China, Japan, Korea, India, and Southeast Asia)
◘ South America (Brazil, Argentina, Colombia, etc.)
◘ The Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, and South Africa)

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The Rise of Global Demand is Fueling Growth in the Scottish Whisky Market:

The global demand for quality whisky has been steadily increasing over the past decade. Whisky consumption is no longer confined within the traditional markets of North America, Europe and Japan. New markets like China, India and other Asian countries are now emerging as major consumers of Scotch whisky, which is fueling significant growth in the Scottish whisky industry. With the expanding global middle class population and rising incomes in many developing economies, more consumers are able to afford and enjoy premium spirit drinks like Scottish whisky. Leading Scotch whisky producers have successfully tapped into these new growth markets through targeted marketing campaigns, tie-ups with local distributors and adapting their product offerings to local tastes. This rising global demand across diverse markets will continue driving higher export volumes and revenues for Scottish distillers.

Increasing Focus on Premiumization is Driving Higher Revenues:

Consumers are increasingly paying more for superior quality and unique drinking experiences when it comes to alcoholic beverages. In a competitive market like Scotch whisky, brands are differentiating through premium 'super premium' offerings targeted at wealthy connoisseurs. Top distilleries are releasing limited editions, rare vintage bottlings, one-of-a-kind cask experiments to capture this premium segment. They also focus on exclusivity, provenance and the craft behind their whiskies. This premiumization trend is allowing Scottish distillers to command higher prices for their products from discerning customers. The shift towards higher-priced premium variants has boosted the industry's overall revenues as premiumization offsets fluctuating volumes in the mainstream segment. This shift towards craft, heritage and ultra-premium experiences is expected to further strengthen the Scottish whisky market's financial performance.

Rising Production Costs due to Inflation is a Major Challenge:

One of the key challenges faced by Scottish distillers is rising input and production costs due to high inflation. The costs of essential inputs like barley, wood casks, packaging materials, labor and freight have been steadily increasing over the past few years. Distilleries are also investing heavily in upgrading facilities, expanding production capacities, developing new product lines to meet growing global demand. However, they are struggling to fully pass on the increasing costs to consumers due to competitive pressures. While premium varieties allow some price increases, mainstream offerings are highly price sensitive. Higher costs shrink operating margins unless offset through productivity gains or increased sales revenues. If inflation continues at elevated levels, it could squeeze profitability for smaller distilleries and negatively impact the overall industry's competitiveness versus cheaper alternatives. Tackling rising costs through innovation, new efficiencies and supply chain improvements is critical to withstand this challenge.

The Growth of Craft Distilling is an Emerging Opportunity:

An exciting new opportunity emerging in the Scottish whisky industry is the rise of craft distilleries. Over the past decade, the number of micro or small-scale craft distillers in Scotland has grown tremendously. These independent startups are experimenting with new techniques, single casks, limited runs and nontraditional whisky styles like rum and gin to attract innovative drinkers. Their products appeal to consumers keen on artisanal experiences, local provenance and supporting small businesses. While their size prevents competing on scale with bigger brands, craft distillers are successfully differentiating through their distinctive offerings and strong local presence. The growth of the experiential craft segment has also boosted distillery tourism substantially. Looking ahead, there exists potential for craft producers to scale up through strategic partnerships or acquisitions by larger players seeking niche products. Their contribution to diversifying Scotland's whisky landscape through new flavours and experimentation will keep driving future growth.

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Key Questions Answered in This Report on Scottish Whisky Market

• How much revenue will the global Scottish Whisky Market generate by the end of the forecast period?

• What regions currently contribute the maximum share to the overall global market?

• What are the indicators expected to drive the global Scottish Whisky Market?

• Which region is likely to be a lucrative market during the forecast period?

• What are the essential strategies incorporated by key stakeholders in the global Market to expand their geographical presence?

• What are the major advancements witnessed in the global Scottish Whisky Market?

• This report answers these questions and more about the global Market, aiding major stakeholders and key players in making the right decisions and strategizing for the advancement of their business.

Some of the Major Points of TOC cover:

Chapter 1: Techniques & Scope

1.1 Definition and forecast parameters
1.2 Methodology and forecast parameters
1.3 Information Sources

Chapter 2: Latest Trends Summary

2.1 Regional trends
2.2 Product trends
2.3 End-use trends
2.4 Business trends

Chapter 3: Scottish Whisky Market Insights

3.1 Market fragmentation
3.2 Market landscape
3.3 Vendor matrix
3.4 Technological and Innovative Landscape

Chapter 4: Scottish Whisky Market, By Region

Chapter 5: Company Profiles

5.1 Company Overview
5.2 Financial elements
5.3 Product Landscape
5.4 SWOT Analysis
5.5 Systematic Outlook

Chapter 6: Assumptions and Acronyms

Chapter 7: Research Methodology

Chapter 8: Contact (Continue . . .)

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About Us:

Coherent Market Insights is a global market intelligence and consulting organization that provides syndicated research reports, customized research reports, and consulting services. We are known for our actionable insights and authentic reports in various domains including aerospace and defense, agriculture, food and beverages, automotive, chemicals and materials, and virtually all domains and an exhaustive list of sub-domains under the sun. We create value for clients through our highly reliable and accurate reports. We are also committed in playing a leading role in offering insights in various sectors post-COVID-19 and continue to deliver measurable, sustainable results for our clients.

This release was published on openPR.