A12044 | Pages: NA | May 2022 | 1000 Views | | |
Author(s) : Roshan Deshmukh | Tables: NA | Charts: NA |
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Pandemic disrupted the entire world and affected many industries.
Get detailed COVID-19 impact analysis on the American Whiskey Market
Request Now !In the last 10 years, the worldwide popularity of Bourbon has been increasing rapidly. Growing demand for premium U.S. whiskies and increasing number of super-premium and ultra-premium products, rapid development worldwide and rapidly expanding cocktail markets are the main drivers of the growth of the U.S. whisky markets globally.In the United States and overseas, demand for American whiskies like Bourbon, Tennessee, and Rye are on the rise. Luxury Bourbon and Tennessee whiskies have shown double-digit growth in recent years, indicating that super-premium whiskies are particularly popular with American customers.
Market Scope and Structure Analysis
Report Metric | Details |
Market Size Available for Years | 2020–2030 |
Base Year Considered | 2020 |
Forecast Period | 2021–2028 |
Forecast Unit | Value (USD) |
Regions Covered | North America, Europe, Asia-Pacific, LAMEA |
Segments Covered | Type, Quality,Distribution Channel |
Companies Covered | Beam Suntory, Inc., Heaven Hill Brands, Sazerac Company, Inc., Luxco, Inc., Castle Brands Inc., Tuthilltown Spirits, Kirin Holdings Company, Limited., Gruppo Campari. |
COVID-19 Impact analysis
Top Impacting Factors
Market Trends
Overall growth is being fueled by premiumization.
Consumers, especially millennials, are skipping the value and premium liquor store aisles in favor of high-end, super-premium items. Between 2012 and 2017, the super-premium and high-end premium spirits segments rose at a rate of 6% to 7% per year in volume, outperforming the premium and value sectors and driving overall growth in spirits consumption.
What is it that makes people gravitate toward high-end spirits? Millennials, naturally, are the main reason behind this development, as ongoing confidence in the economy and product advances have led customers to more expensive liquors.
Flavored Whiskey market is the new trend
Due to factors such as increased availability of product variants with a wide range of flavors, such as apple, cider, citrus, cinnamon, honey, peanut butter, cherry, and many more, the flavored whiskey market has seen tremendous expansion. A youth-centric product trend is predicted to fuel the worldwide flavored whiskey market. Over the projection period, demand for flavored whiskey is predicted to rise due to an ageing population.
Increase in demand for ready to drink beverages
Ready-to-Drink (RTD) beverages are those that have been prepared and are ready to drink. Iced tea, alcopops, soft drinks, and other RTD beverages are examples. Alcopops, or alcoholic cocktails, are carbonated bottled drinks that are ready to drink. Cocktails are alcoholic drinks made out of one or more spirits, as well as flavoring agents, sweeteners, fruit juice, and other ingredients. The desire for all-day beverages has sparked interest in ready-to-drink (RTD) or single-serve cocktails.
Key Segments Covered
Type
Quality
By Distribution Channel
Region
Key Benefits of the Report
Questions answered in the Report
Key Market Segments
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Key Market Players
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