Scottish Whisky Market Current Status and Future Trends Report 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:

Whisky production and exports from Scotland have seen steady growth over the past decade owing to increasing tourism in Scotland. International tourist arrivals in Scotland grew from 3 million in 2010 to over 4 million in 2019, with visitors attracted by Scotland's heritage, varied landscapes, and cultural experiences including whisky distillery tours and tastings. This growing tourism has boosted demand for authentic Scottish whisky both within the country and for souvenirs being taken back by international visitors. Another key driver of the market includes rising working-age population in key export markets such as the USA, China, and India, translating to a wider customer base for premium beverages. The growth in young professional demographic is expected to continue supporting international spirits demand over the forecast period.

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Increasing global demand for premium Scotch whisky

The global demand for premium and super premium Scotch whisky has been steadily increasing over the past decade. Consumers across major markets like United States, China, India etc are increasingly willing to pay higher prices for quality single malt and blended malts from renowned Scottish brands. This upsurge in demand has been a major driver of growth for the Scottish whisky industry. Various factors like rising disposable incomes, growing appreciation for quality spirits and effective brand building by Scottish producers have fuelled this demand surge. If this trend continues over the next few years as expected, it will have a profoundly positive impact on the growth of Scottish whisky market.

Emerging opportunities in new international markets

While traditional markets like United States, France and Germany may see slower growth going forward due to near maturity, profitable openings still lie in newer developing economies across Asia and Africa. This presents lucrative opportunities for Scottish distillers to expand their geographic footprints and volumes. Targeting aspirational consumer segments in rising nations like China, India, Vietnam etc with differentiated brand stories, novel products and innovative pricing models hold promising potential. Those able to successfully tap into these emerging frontiers and build consumer franchise therein stand to reap significant gains over the upcoming decade.

Increasing experimentation with limited editions and luxury variants

A major trend being witnessed in the premium end of the Scottish whisky sector is the rising focus on exclusivity and novelty to attract affluent customers looking for unique experiences. Producers are leveraging innovative tasting experiences, rare cask expressions, vintage releases and luxury presentations to drive excitement and premium positionings. Collaborations with renowned chefs, artists and culture driving bespoke limited edition runs are also gaining traction. If sustained well, this experimentation oriented strategy could help elevate the profile of Scottish whisky as a highly coveted luxury good worldwide in the coming years.

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Top Companies Included 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:

Based on 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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