by Scottish whisky is a distilled alcoholic beverage made in Scotland from malted barley. It has been produced for centuries and is known worldwide for its quality,Craftmanship and distinctive flavours. Scottish whisky commands premium pricing due to high demand for its premium varieties like single malt whisky. The global Scottish Whisky Market is estimated to be valued at US$ 7.69 Bn in 2023 and is expected to exhibit a CAGR of 9.0% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Rising consumption of premium whisky is a key trend boosting the Scottish whisky market. Premiumization in the whisky industry has been a major driver of growth over the past decade, as consumers gravitate towards higher-quality, artisanal spirits. Within the Scottish whisky segment, single malt whisky commands the highest demand owing to its distinctive flavors imparted by different distilleries. Popular high-end single malt brands like Glenfiddich and The Macallan have successfully catalyzed consumption of luxury whisky worldwide. Furthermore, growing preference for single cask or vintage whisky among wealthy consumers has supported premiumization of the Scottish whisky market. This trend is expected to continue driving demand over the forecast period.
SWOT Analysis
Strength: Scottish Whisky has a strong heritage and tradition dating back centuries. The single malt scotch whisky segment has a loyal customer base globally.
Weakness: Scotch whisky faces strong competition from alternative spirits such as American whiskey and Asian liquors. Export-reliant Scottish distilleries are vulnerable to fluctuations in global economic conditions.
Opportunity: Emerging markets in Asia Pacific and Latin America present significant growth opportunities for Scotch whisky. Variants such as lighter cream liqueurs could attract younger consumers.
Threats: Stringent regulations around distribution and production limit expansion. High import tariffs in some key markets negatively impact sales. Climate change may impact barley crop yields.
Key Takeaways
The Global Scottish Whisky Market Size is expected to witness high growth.
Regional Analysis: The Asia Pacific region is expected to grow at the fastest rate during the forecast period. Increasing disposable incomes and growing preference for premium spirits in countries like China, Japan, and India is fueling market growth. Meanwhile, North America is also anticipated to record significant gains, driven by rising whisky consumption in the United States.
Key players operating in the Scottish Whisky market are SUEZ SA, Aquatech International LLC, Advanced Oxidation Limited, Xylem Inc., Advanced Plasma Power Ltd., Trojan Technologies, Lenntech BV, Siemens AG, Degr̩mont Technologies РSUEZ, Advanced Oxidation Technology, Inc., Ozonia (Suez Water Technologies & Solutions), EnChem Engineering, Inc., Evoqua Water Technologies LLC, Advanced Oxidation Japan Co., Ltd., Advanced Oxidation Processes Inc.
*Note:
1.Source: Coherent Market Insights, Public sources, Desk research
2.We have leveraged AI tools to mine information and compile it
