Scottish Whisky Market Landscape: Current Analysis and Future Forecast 2024 - 2031 | Angus Dundee Distillers Plc, Douglas Laing

Market Overview:

The Scottish whisky market is estimated to be valued at USD 35.04 Bn in 2024 and is expected to reach USD 56.64 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 7.1% from 2024 to 2031.

Market Dynamics:

The Scottish whisky market is driven by rising export demand from countries such as United States, France, Germany and others. Scotland exported over £4.9 billion worth of whisky in 2021, with exports rising in major markets such as USA, France and Taiwan. Additionally, the market dynamics are also influenced by increasing consumption of premium and luxury whiskies among high net worth individuals globally. Consumers are willing to pay premium prices for premium single malts and limited edition whiskies, which is another factor driving revenue growth of market players in the Scottish whisky market during the forecast period.

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The growing global popularity of whisky is fueling increased sales of Scottish whisky

The worldwide popularity and appreciation of whisky as a premium spirit has significantly grown in recent decades. Whisky, especially single malt Scotch whisky, is increasingly being consumed and acquired by aficionados around the globe as a luxury spirit. Major emerging economies like China, India and Brazil have developed a burgeoning middle class population with rising disposable incomes and exposure to premium imported brands. This expanded global consumer base has translated to growing demand and sales of Scottish whisky both domestically and for export markets. Distilleries have ramped up production capacities to meet international demand while introducing limited editions and premium offerings to tap new consumers. The growing culture of whisky appreciation societies and experiences like distillery tours have also fueled more interest in quality Scottish malts.

Rising cost of production due to increase in excise duty threatens profit margins for Scottish Distillers

While surging global demand has boosted revenues, many Scottish distillers still face challenges to profitability. One major restrain is the rising cost of production primarily driven by steep excise duties levied on spirits by the UK government. Over the past decade, there have been consistent above-inflation increases in excise duties on whisky which effectively represents a significant tax on the industry. The substantial taxation increases the production costs for distillers and decreases potential profit margins, especially considering the lengthy maturation periods for whisky. As costs continue mounting, producers have had to incrementally increase prices of their bottlings to maintain margins. However, this also risks pricing some consumers and markets out. With duties projected to rise further, the excessive fiscal burden remains a key threaten to long term sustainability and growth of the Scottish whisky sector.

The growing popularity of experimentation with cask finishes presents lucrative opportunities for distillers

An exciting trend gaining traction in the whisky world is the practice of experimenting with different cask finishes after the initial maturations. Distillers have started exploring innovative cask combinations like finishing malts in barrels previously used for fortified wines, rum, brandy or other spirits. This allows for blending intriguing new flavor profiles into the whisky through additional layers of complexity. Consumers have shown keen interest in these unique limited releases seeking newer tastes. Presenting an excellent opportunity, cask finish experimentation allows distillers to captivate aficionados and curious drinkers with small-batch exclusive bottlings. It also helps develop brand cache while commanding premium pricing. Distilleries engaging in innovative finishing are gaining popularity and recognition, attracting visitors to experience their pioneering efforts. This emerging practice presents lucrative prospects to boost margins and further stimulate worldwide interest in Scottish whisky.

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Top Companies Featured in This Report:

• Angus Dundee Distillers Plc
• Douglas Laing
• Craft56
• Diageo
• DEWAR'S
• Aberfeldy
• Royal Brackla
• Balblair Distillery Co Ltd.
• The English Distillery
• Bruichladdich Distillery
• Islay
• Copper Rivet Distillery
• Tomatin Distillery Co Ltd
• The Glenturret Distillery
• Kilchoman Distillery
• The Borders Distillery
• Loch Lomond Whiskies
• William Grant and Sons Ltd.
• Bowmore Distillery
• Edrington
• LVMH

Market Segmentation:

By Product Type:

• By Product Type: Single Malt Scotch Whisky, Blended Scotch Whisky, Single Grain Scotch Whisky, Blended Malt Scotch Whisky, and Blended Grain Scotch Whisky
• By Price Range: Premium, High End Premium, and Super Premium
• By Distribution Channel: On Trade (Restaurants & Bars, Liquor Stores, Others), Off Trade (Supermarket & Hypermarket, Discount Stores, and Others (Online Stores, etc.)

Key Regions/Countries Classified as Follows:

» 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)
» South America (Brazil, Argentina, Rest of SA)
» Middle East & Africa (Turkey, Saudi Arabia, Iran, UAE, Africa, Rest of MEA)

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Author Bio:

Alice Mutum is a seasoned senior content editor at Coherent Market Insights, leveraging extensive expertise gained from her previous role as a content writer. With seven years in content development, Alice masterfully employs SEO best practices and cutting-edge digital marketing strategies to craft high-ranking, impactful content. As an editor, she meticulously ensures flawless grammar and punctuation, precise data accuracy, and perfect alignment with audience needs in every research report. Alice's dedication to excellence and her strategic approach to content make her an invaluable asset in the world of market insights.

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