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2021
Irish Whiskey Market

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
Update Available On-Demand

Report Code: A07457
Pages: 234
Apr 2021 | 6159 Views
Author(s) : Sumesh K , Roshan D
Tables: 55
Charts: 38
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COVID-19

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The global Irish whiskey market size was valued at $4,260.0 million in 2019, and is expected to reach $7,677.5 million by 2027 registering a CAGR of 9.2% from 2021 to 2027. North America was the highest revenue contributor, accounting for the highest value share in 2019, and is estimated to grow at a notable CAGR of 9.6%. U.S. was the leading country in terms of Irish whiskey consumption, and is expected to continue this trend during the forecast period. 

The Irish whiskey is considered one of the best alcoholic beverages globally. It is made with malted and unmalted barley and then distilled for around 3 years. In distillation, it undergoes fermentation process, where additional enzymes help in processing and conversion to alcohol. It is then distilled thrice for better taste and smoothness. The Irish whiskey is known to fuse perfectly with other drinks as it is smoother than other whiskeys. Furthermore, the Irish whiskey is perfect for making cocktails and shooter recipes. It is very popular in countries such as the U.S., the UK, France, and Germany, owing to factors such as increase in disposable income, bar etiquette, and spirits led tourism.

Irish-Whiskey-Market,-2021-2027

The demand for Irish whiskey has remained consistent among buyers. The COVID-19 has adversely affected the market growth worldwide. The decline in the growth of the Irish whiskey market can be attributed to shut down of bars, clubs, and pubs. The decline in the production and the distribution of supply chain impacted the supply of whiskey and led to low sales. However, the manufacturer did not suffer loss on the stock of their alcoholic beverages, which were already in barrels as the longer drinks are in barrels the more the value of drink increases. Also, in the UK, there was not very much change in the consumption of alcoholic beverages by the customer.

The growth of the Irish whiskey market can be attributed to increase in modernization, rise in disposable income, and growth in population. Furthermore, the alcoholic beverages such as whiskey is often a preferred beverage in parties and other public events which also act as the driver for the sales of Irish whiskey worldwide. Furthermore, the unique taste and texture coupled with growing popularity of Irish whiskey among tourists adds to the popularity of the beverage thereby driving the Irish whiskey market growth. However, high cost and low accessibility of Irish whiskey act as the major restraints for the market. On the contrary, innovations in taste and packaging, is expected to provide growth opportunities for the market.

The Irish whiskey market has been segmented on the basis of type, pricing, sales channel, and region. Based on type, single malt Irish whiskey, single-pot Irish whiskey and single grain Irish whiskey. In addition, on the basis of pricing, it is fragmented into Mass and Premium Irish whiskey. Based on sales channel, it is classified into on-trade and off-trade. Furthermore, it includes the revenue generated from the sales of Irish whiskey across North America (the U.S., Canada, Mexico), Europe (Germany, the UK, France, Italy, Spain, Russia and the rest of Europe), Asia-Pacific (China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific), and LAMEA (Latin America, Africa, and the rest of LAMEA).

Irish Whiskey Market
By Type

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blended Irish whiskey segment was the fastest growing segment.

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Based on type, the blended segment was the largest and the fastest growing segment in 2019. This segment is expected to remain dominant during the forecast period. The single malt segment is projected to grow at a notable CAGR of 9.0% over the forecast period.

Irish Whiskey Market
By Pricing

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Premium Irish Whiskey was the fastest growing segment.

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Based on Irish whiskey market analysis by pricing, the premium segment was the largest & the fastest growing segment. It is expected to remain dominant over the forecast period. The growth of this segment is attributed to an increase in the demand and consumption of premium Irish whiskey in developed regions such as Europe and North America.

Irish Whiskey Market
By Sales Channel

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Off-Trade was the fastest growing segment.

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Based Irish whiskey market forecast by sales channel, the off-trade segment was the largest and the fastest growing segment, and is expected to remain dominant over the forecast period. The growth of this segment can be attributed to growing adoption of party culture and rise in participation of people in nightclubs and bars.

Irish Whiskey Market
By Region

2027
North America 
Europe
Asia-pacific
Lamea

Asia-Pacific was the dominant regional segment

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Region-wise, North America was the largest market in 2019, in terms of revenue generation, garnering almost one-third of the global Irish whiskey market share. The U.S. is further expected to expand at a notable growth rate exhibiting the highest share over the forecast period. However, Asia-Pacific and LAMEA region in the market are expected to witness notable growth during the forecast period. The market growth in these regions can be attributed to large population and growing adoption of alcohol in general.

Key players in the Irish whiskey industry have relied on strategies, such as innovation and business expansion, to expand their market share and to stay competitive in the global market. The key players in the Irish whiskey market profiled in the report include Beam Suntory Inc., Jameson Irish whiskey, Teeling Distillery, The Old Bushmills Distillery Co., Brown-Forman, Diageo, Pernod Ricard, William Grant & Sons, West Cork Distillers, and Knappogue Castle Whiskey.

Key Benefits For Stakeholders

  • The report provides a quantitative analysis of the current Irish whiskey market trends, estimations, and dynamics of the market from 2019 to 2027 to identify the prevailing opportunities.
  • Porter’s five forces analysis highlights the potency of the buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier–buyer network.
  • In-depth analysis and the market size & segmentation assist to determine the prevailing Irish whiskey market opportunities.
  • The major countries in each region are mapped according to their revenue contribution to the market. 
  • The market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players in the Irish whiskey industry.

Irish Whiskey Market Report Highlights

Aspects Details
By Type
  • Blended
  • Single Malt
  • Single Pot
  • Single Grain
By Pricing
  • Mass
  • Premium
By Sales Channel
  • On-trade
  • Off-trade
By Region
  • North America  (U.S., Canada, Mexico)
  • Europe  (Germany, UK, France, Italy, Spain, Russia, Rest of Europe)
  • Asia-Pacific  (China, India, Japan, Australia, South Korea, Rest of Asia-Pacific)
  • LAMEA  (Latin America, Africa, Rest of LAMEA)
Key Market Players Beam Suntory Inc., Jameson Irish whiskey /Irish Distillers International Limited, Teeling Distillery, The Old Bushmills Distillery Co., Brown-Forman, Diageo, Pernod Ricard, William Grant & Sons, West Cork Distillers, Knappogue Castle Whiskey
 

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According to the CXOs of the leading companies, the demand for premium Irish whiskey is growing across the globe. This is attributed to unique and high-quality flavor of the premium Irish whiskey.  Furthermore, the increase in demand of new outlets, bars, clubs, and pubs by the consumers drives the growth of the Irish whiskey market.

Furthermore, the CXOs add that the prominent players are using various methods in the production of Irish whiskey to provide unique taste, color, content, and aroma, which drives the market growth. These production techniques include blending, inclusion of single malt where the drink is stored in a single distillery for maturity. The usage of the single pot in which the mixed mash is distilled in a pot. Single grain where grains like rye, corn, wheat and more such grains are blended from a single distillery. These different production styles provide various varieties of Irish whiskey to the customer. 

Furthermore, the demographic factor such as growth in population and rise in disposable income of individuals lead to increase in consumption of alcoholic beverages, which drive the growth of the Irish whiskey market.

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FREQUENTLY ASKED QUESTIONS?

A. The global Irish whiskey market is expected to grow at a CAGR of 9.2% from 2021 to 2027.

A. The market value of Irish whisky is expected to reach $7,677.5 million by 2027.

A. The sample of the report can be acquired from the official allied market research website.

A. Factors such as growing trend of clubbing and growing acceptance of alcohol among people all around the world drives the market growth of Irish whisky market.

A. The key players in the Irish whiskey market profiled in the report include Beam Suntory Inc., Jameson Irish whiskey, Teeling Distillery, The Old Bushmills Distillery Co., Brown-Forman, Diageo, Pernod Ricard, William Grant & Sons, West Cork Distillers, and Knappogue Castle Whiskey.

A. The Irish whisky market has been segmented on the basis of type, pricing, sales channel, and region.

A. Key players in the Irish whiskey industry have relied on strategies, such as innovation and business expansion, to expand their market share and to stay competitive in the global market.

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