Whiskey refers to a type of alcoholic beverage that is aged in wooden barrels made of charred white oak. It is a strictly regulated spirit which is prepared by fermenting the grain mash of rye, wheat, barley or corn. It is a recreation drink which is also associated with numerous health benefits. Its consumption in moderation can aid in preventing stroke, dementia and heart attack. Rising awareness about these benefits has resulted in its wide preference among consumers. Additionally, changing lifestyle patterns, along with inflating per capita income levels, have spurred the demand for whiskey across the globe. Improving economic prosperity and rapid urbanization in the developing countries have further provided a boost to the premium whiskey segment. Apart from this, the growing awareness among consumers about the importance of organic raw materials has led them to shift towards organic whiskey, which is prepared from organic barley which is aged in virgin oak casks.
According to the latest report by IMARC Group titled, “Whiskey Market Research Report and Forecast 2019-2024”, the market reached a value of US$ 56.7 Billion in 2018. Looking forward, the market exhibiting a CAGR of around 5.2% during 2019-2024.
Key Market Segmentation:
Breakup by Product Type:
• American Whisky • Irish Whisky • Scotch Whisky • Canadian Whisky • Others
The report has also examined the competitive landscape of global whiskey market. Some of the major players in the market are Diageo plc, Bacardi Limited, Suntory Beverage & Food Limited, Pernod Ricard, The Brown–Forman Corporation, Asahi Group Holdings Ltd, William Grant & Sons Holdings Ltd, The Edrington Group, Allied Blenders and Distillers Pvt Ltd, Constellation Brands, La Martiniquaise, etc.
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