Global Flavored Whiskey Market is valued at approximately USD 25.14 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 7.4% over the forecast period 2022-2029. Flavored whiskey is known as whiskey-based liqueurs, comes in various flavors for consumers who have a preference for a smoother and unique accent in their drink. Flavored whisky is highly in demand due to its capacity to remove "off flavours" from the final product and provide the user with a soothing taste. The Flavored Whiskey market is expanding because of factors such as growing alcohol consumption and increasing younger population.
Whiskey that has been flavor-infused often combines traditional malt constituents with one or more extra tastes. Its prevalence has progressively increased during the last few decades. According to Statista, in 2021, the global market size of alcoholic beverages amounted to USD 1.45 trillion. However, the Statista Consumer Market Outlook estimates that by 2025 the global market size of alcoholic beverages will increase to over USD 1.98 trillion. Furthermore, in 2022, the sales volume of whiskey in the United States amounted to 78 million per 9-liter cases. Another important component driving space is increase in the younger population. Ready to drink alcoholic beverages are the most popular option for young customers due to its convenience, low alcohol content, and lower price compared to cocktails provided at bars. As per Statista, in 2022 Around 25% of the world’s population is under the age of 15, and 10% is over the age of 65. Africa has the world’s youngest population. On the continent, 40% of the population is under the age of 15, and less than 4% is over the age of 65, indicating low life expectancy in several countries. In addition, in 2021, approximately 21.56 million young people between the ages of 15 to 19 years old lived in the United States. This was a slight increase from the previous year when 21.53 million young people aged 15 to 19 living in the United States. However, the high cost of Flavored Whiskey stifles market growth throughout the forecast period of 2022-2029.
The key regions considered for the Global Flavored Whiskey Market study include Asia Pacific, North America, Europe, Latin America, and Rest of the World. Europe dominated the market in terms of revenue, owing to the large consumer base for flavored spirits in the region. According to Statista, in 2021 the leading market for the export of Scotch whisky by volume in Europe is France with 176 million 70 centiliter bottles exported, followed by Spain with 48 million bottles. Asia Pacific is expected to grow with the highest CAGR during the forecast period, owing to factors such as increased demand for accessible, high-quality drinks as a result of the growing influence of western cultures in the market space.
Major market players included in this report are:
Suntory Beverage & Food Limited
The Brown–Forman Corporation
Asahi Group Holdings Ltd.
William Grant & Sons Holdings Ltd
The Edrington Group
Allied Blenders and Distillers Pvt Ltd
Recent Developments in the Market:
? In October 2022, the single malt whisky of the Edrington Group the Macallan’s Harmony Collection includes two coffee-inspired releases. The new "intensely flavoured" single malt whiskies, created to pair with coffee, draw their inspiration from the Ethiopian Arabica coffee bean, which is primarily for global travel retail and has a 40% ABV.
Global Flavored Whiskey Market Report Scope:
Historical Data 2019-2020-2021
Base Year for Estimation 2021
Forecast period 2022-2029
Report Coverage Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered Application, Type, Region
Regional Scope North America; Europe; Asia Pacific; Latin America; Rest of the World
Customization Scope Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
Honey Flavored Whiskey
Caramel Flavored Whiskey
Fruit Flavored Whiskey
Rest of the World