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Whiskey Market Size By Product (Scotch Whiskey, American Whiskey, Canadian Whiskey, Irish Whiskey, Other Whiskey), By Distribution Channel (On-Trade, Off-Trade) & Forecast, 2024-2032

  • Report ID: GMI3322
  • Published Date: Feb 2023
  • Report Format: PDF

Whiskey Market Size

Whiskey Market size surpassed USD 67.6 billion in 2023 and is anticipated to exhibit over 6.8% CAGR from 2024 to 2032.

The surging demand for alcoholic beverages worldwide is expected to have a positive impact on the whiskey industry growth. Over the past few years, alcohol consumption has increased dramatically on account of changing consumer preferences, rapid urbanization, and the increasing purchasing power of the middle-class population. For instance, according to data published by the American Addiction Centers, globally, more than 445 billion liters of wine, beer, and spirits are consumed annually. This scenario has spurred the overall global production and distribution of spirits, such as whiskey. Additionally, favorable government initiatives supporting the establishment of advanced food processing units for boosting the food & beverage production output will empower whiskey manufacturing distilleries across the world.

Whiskey Market

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Emerging trend of non-alcoholic beverage alternatives may impede the market demand

The emergence of innovative non-alcoholic beverages and the rising consumer preference for juices and carbonated drinks could restrain the whiskey market outlook. In recent years, non-alcoholic beverages such as Heineken 0.0, and Budweiser Zero have gained notable traction owing to the growing health awareness and inclination towards healthy beverages. According to a new report published by the Indian Council for Research on International Economic Relations (ICRIER) in May 2022, the non-alcoholic beverage business in India is estimated to be worth more than USD 17 billion by 2030.

Whiskey Market Analysis

The scotch whiskey market revenue is predicted to reach USD 46.3 billion by 2032, accredited to the growing consumer inclination toward premium products. Moreover, the appealing sensory characteristics and high alcohol percentage are driving the community of scotch lovers, thus compelling distillers to amplify the production rate. The developing economies in particular are experiencing a notable rise in consumer spending on high-end spirits. For instance, as per the Scotch Whisky Association (SWA), India emerged as the largest importer of scotch whiskey produced in the U.K. with a 60% surge in imports between 2021 and 2022.

Whiskey Market Size, By Product, 2021 - 2032 (USD Billion)

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The whiskey market size from the on-trade distribution channel segment is projected to witness 6.5% CAGR through 2032. On-trade distribution channels remain a prominent distributor due to the increasing consumption of alcoholic beverages across bars, pubs, and hotels. After experiencing significant disruptions caused by the COVID-19 pandemic, the restaurant and hotel sectors are anticipating a promising business trajectory in the looming years.  Despite the virtualization of food businesses and the rapid penetration of food delivery services, consumers across the globe are heavily inclined towards on-premise experiences to enable socialization. For instance, the 2023 forecast by the National Restaurant Association showcases high consumer preference for culinary exploration with 70% of respondents inclined towards in-restaurant experiences.

Whiskey Market Revenue Share, By Balling Technology, (2023)


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Asia Pacific whiskey market will exceed USD 54.9 billion by 2032, driven by the rising purchasing power across developing nations such as India and China. The growing consumer inclination toward premium and luxury products and the changing lifestyles have encouraged robust trade of alcoholic beverages across APAC countries. For instance, as per data published by the U.S. Department of Agriculture (USDA), and the Global Agriculture Information Network (GAIN), Taiwan’s whiskey imports reached USD 553 million in 2021, increasing by 19% from 2020.

U.S. Whiskey Market Size, 2021- 2032 (USD Billion)


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Whiskey Market Share

Some of the leading companies in the global whiskey market include

  • Diageo
  • Pernod Ricard
  • William Grant and Sons
  • Suntory Holdings Ltd
  • Brown Foreman
  • Allied Blenders and Distillers Pvt Ltd
  • Angus Dundee Distillers Plc
  • Bacardi Limited
  • Constellation Brands Inc
  • King Car Group
  • La Martiniquaise
  • the Edrington Group
  • Chivas Brothers
  • Whyte & Mackay

These firms are focusing on business expansion strategies to boost their market presence.

For instance, in December 2021, Suntory announced plans to launch a new domestic liquor brand to use integrated management models throughout the domestic liquor business and keep up with current alcohol consumption trends.

Impact of the COVID-19 pandemic

The COVID-19 pandemic had a moderate impact on the whiskey industry with the rapid influx of new challenges and opportunities. It had a significant impact on local craft distilleries due to hampered production levels as a result of strict lockdown impositions and social distancing norms, which reduced the demand for alcoholic beverages across restaurants and pubs. As per a study published by the American Distilling Institute (ADI), and the Distilled Spirits Council (DISCUS), craft distillers reported a 41% decline in sales resulting in losses of nearly USD 700 million. However, several economies leading in the space of spirits experienced a promising post-pandemic recovery.

This whiskey market research report includes in-depth coverage of the industry with estimates & forecast in terms of volume in Million Liters and revenue in USD Million from 2018 to 2032 for the following segments:

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Market, By Product

  • American whiskey
  • Canadian whiskey
  • Irish whiskey
  • Scotch whiskey
  • Others

Market, By Distribution Channel

  • On-Trade
  • Off-Trade

The above information has been provided for the following regions and countries:

  • North America
    • U.S.
    • Canada 
  • Europe
    • Germany
    • UK
    • France
    • Italy
    • Russia
    • Spain
    • Ireland
    • Belgium
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Australia
    • Thailand
    • Taiwan
  • Latin America
    • Brazil
    • Mexico
    • Argentina
    • Venezuela
  • Middle East & Africa
    • South Africa
    • UAE
    • Angola


Authors: Kiran Pulidindi

Frequently Asked Questions (FAQ) :

The market size of whiskey crossed USD 67.6 billion in 2023 and is projected to grow at a CAGR of 6.8% through 2032, says this GMI report.
The scotch whiskey segment is poised to surpass USD 46.3 billion by 2032, owing to growing consumer inclination toward export-quality premium alcoholic beverages.
The market size for whiskey in Asia Pacific will reach USD 54.9 billion by 2032, led by the surging imports of premium whiskey and the increasing purchasing power of consumers.
Diageo, Pernod Ricard, Brown Foreman, Bacardi Limited, King Car Group, La Martiniquaise, Chivas Brothers, and Whyte & Mackay are some of the key whiskey companies worldwide.

Whiskey Market Scope

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Premium Report Details

  • Base Year: 2023
  • Companies covered: 14
  • Tables & Figures: 402
  • Countries covered: 20
  • Pages: 315
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