The market for malt whiskey is expected to grow at a CAGR of 4.8% during the forecast period of 2022 to 2030. The rising demand for luxury spirits as a result of shifting consumer preferences is a significant factor that is contributing to the expansion of the Single Malt Whiskey Market worldwide. According to Vinexpo, an international brand that generates and develops essential features in the wine and spirits sector, the recent trend of "drinking less but better" would result in a rise in the consumption of pure alcohol. This prediction was made by Vinexpo. Because of this, customers will shift their consumption away from wine and beer and toward whisky. In addition, the particular flavour of single malt whisky is a significant contributor to its appeal among millennial customers, which in turn supports the expansion of the industry. Millennials are the consumers that are driving the growth of the market. The market expansion is being fueled by the launch of new products as well as an increased taste for high-end single malt whiskey. The companies Bacardi, Beam Suntory, Brown-Forman, Diageo, Pernod Ricard, Asahi Breweries, Distell, Gruppo Campari, John Distilleries, RadicoKhaitan, and United Spirits are the most significant competitors in this market.
Since 2021, a global pandemic has wreaked havoc on the world of business to an extent that has never been seen before on a scale that spans the entire planet. One of the areas that has been adversely affected and that has had major disruptions as a result of lockdowns and market closures that have been imposed is the industry that deals with alcoholic beverages. The expenditure of consumers has fallen even further across the board for all types of alcoholic beverages, including vodka, whiskey, and gin. Several businesses were forced to face the full force of the pandemic, which included increasing health concerns, restrictions on travel and going out, and the closing of on-trade establishments for the drinking of alcoholic beverages.
Scotch Whiskey Dominates the Malt Whiskey Market by Product
Scotch Whiskey, American Whiskey, Irish Whiskey, and Other Types of Whiskey make up the Scotch Whiskey, American Whiskey, and Irish Whiskey segments of the market, respectively. Because of its excellent quality, authenticity, and flavorful profile, scotch whiskey is by far the most popular type of whisky, and as a result, the category dominated interms of market revenues in 2021. Blended single malt is a type of whiskey that is created by combining Single Malt Whiskey with wheat. Because of its subtle and complex flavour undertones, blended single malt is a favourite among consumers. As a consequence of this, it is anticipated that the Single Malt Whiskey business would rise significantly in the market due to an increase in exports.
The Off-trade Segment Dominated the Market by Distribution Channel
The market by distribution channel is segmented asoff trade and on trade. The off-trade market is the one in which single malt whisky is traded the globally in 2021. Off-trade sales channel comprises all retail outlets including supermarkets/hypermarkets, wines & spirits shops, and convenience stores. Because purchasing alcoholic beverages from off-trade outlets, such as supermarkets and specialty stores, is typically less expensive for customers than purchasing alcoholic beverages from on-trade outlets, such as pubs, bars, and restaurants, these off-trade outlets are preferred by customers. Additionally, the on-trade channel is picking up speed as customers in developed nations seek appealing ambience and engaging surroundings when drinking liquor. This has led to an increase in the popularity of on-trade establishments. As a direct consequence of this, the development of the sales channel is given a push.
North America Remained as the Global Leader
The Global Single Malt Whiskey Market is divided into the following segments based on the results of a regional analysis: North America, Europe, Asia Pacific, and the Rest of the World. It is anticipated that the market for single malt whiskey would enjoy substantial growth in North America because of the rising popularity and preference for scotch whisky, as well as the fact that the region is the largest importer of this product on a global scale. In 2021, the United States was the country that imported the most single malt whisky, and the vast majority of distilleries that produce single malt whisky have contributed to the expansion of the market. The Asia-Pacific region is the market that is expanding at the quickest rate as a result of shifting consumer lifestyles and rising urbanisation. Because consumers now have more discretionary income and because western culture is increasingly prevalent, there has been a shift toward the consumption of premium spirits. The Single Malt Whiskey Market in the region has seen substantial expansion as a direct result of these several factors.
Historical & Forecast Period
This study report represents analysis of each segment from 2020 to 2030 considering 2021 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2022 to 2030.
The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.
The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Malt Whiskey market are as follows:
Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.
Region Segment (2020–2030; US$ Million)
Global Impact of Covid-19 Segment (2020-2021; US$ Million )
Key questions answered in this report