Press release
Irish Whiskey Market to Witness Astonishing Growth: 9.2% CAGR to Hit USD 7.67 Billion by 2027
Irish Whiskey Market
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Prime Determinants of Growth
Experimentation and innovation in manufacturing, taste and preference, and innovative packaging of the bottles drive the growth of the global Irish whiskey market. However, huge taxation on alcoholic beverages and impact of Brexit on Irish whiskey market hinder the market growth. On the other hand, advent of e-commerce and growth in demand for premium drinks in developing countries present new opportunities in the coming years.
Leading market players
Beam Suntory Inc.
Jameson Irish whiskey
Teeling Distillery
The Old Bushmills Distillery Co.
Brown-Forman
Diageo
PernodRicard
William Grant & Sons
West Cork Distillers
Knappogue Castle Whiskey.
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The premium segment to maintain its leadership status during the forecast period
Based on pricing, the premium segment accounted for the highest market share in 2019, contributing to around three-fifths of the global Irish whiskey market, and is projected to maintain its leadership status during the forecast period. In addition, the segment is also estimated to portray the largest CAGR of 9.7% from 2021 to 2027, owing to the fact that the customers find high quality and better taste in the premium drinks.
The off-trade segment to continue its lead position throughout the forecast period
Based on sales channel, the off-trade segment contributed to the highest market share, holding more than half of the global Irish whiskey market in 2019, and will continue its lead position throughout the forecast period. Furthermore, the segment is expected to maintain the highest CAGR of 9.5% from 2020 to 2027. This is attributed to easy availability of Irish whisky at the off-trade channel &growing acceptance of alcohol among the young group of demographic cohort.
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North America to maintain its dominant position by 2027
Based on region, North America accounted for the highest share in terms of revenue in 2019, contributing to around half of the global Irish whiskey market, and will maintain its dominant position by 2027. This is attributed to demographical factors such as high disposable income as well as standard of living. However, Asia-Pacific is estimated to manifest the fastest CAGR of 11.5% during the forecast period. This is due to the growing alcoholism in this region.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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Allied Market Research published a report, titled, "Irish Whiskey Market by Type (Blended, Single malt, Single Pot, Single Grain), Pricing (Mass and Premium), and Sales Channel (On-trade and Off-Trade): Global Opportunity Analysis and Industry Forecast, 2021-2027." The global Irish whiskey industry generated $4.26 billion in 2019, and is expected to reach $7.67 billion by 2027, witnessing a CAGR of 9.2% from 2021 to 2027.
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