Irish Whiskey Market was valued at US$ 4.48 Bn in 2020. The global market is expected to grow at a CAGR of 9.2% during the forecast period and market is expected to reach a value of US$ 8.3 Bn.
Irish Whiskey Market Overview:Irish whiskey is considered one of the best alcoholic beverages in the world. It is made with unsalted malt and barley and then distilled for 3 years. During distillation, it undergoes a fermentation process where further enzymes help to practice and metabolize the alcohol. It is then triple distilled for a better taste and smoothness. Irish whiskey is known to blend entirely with other beverages as well as being smoother than other whiskeys. In addition, Irish whiskey is well suited for making cocktails and shooting recipes. It is very popular in countries such as the United States, United Kingdom, France, and Germany, due to factors such as increased disposable income, bar etiquette, and spirits tourism. To Know About The Research Methodology :- Request Free Sample Report 2020 is considered as a base year to forecast the market from 2021 to 2027. 2020’s market size is estimated on real numbers and outputs of the key players and major players across the globe. Past five years' trends are considered while forecasting the market through 2027. 2020 is a year of exception and analysis especially with the impact of lockdown by region.
Irish whiskey Market Dynamics:Experimentation and innovation in production, flavours and preferences, and innovative bottle packaging is driving the growth for the market: Irish whiskey has a distinctive flavour that is often described as light and fruity with distinct grainy notes. Ageing also imparts the distinctive flavours of whiskey and caramel. There are four different types of Irish whiskey Malt, Whole, Grain and Blended. Irish whiskey is one of the oldest and most popular distilled spirits among consumers around the world. It has a unique smooth product range and is pale yellow compared to the Scotch and earthy range of Scotch whiskey. Companies in force in the Irish market are determined to debut a new intermingle of Irish whiskey. Kilbeggan Distillery, a subsidiary of Beam Suntory, one of the world's leading manufacturers of distilled beverages, has launched a limited edition Kilbeggan Single Pot Still. This new product is a combination of barley and malted oats, a recipe inspired by traditional Irish whiskey. This circumstance is expected to force market growth during the forecast period. Massive alcohol tax and Brexit impact on Irish whiskey market are hindering market growth: The price per hectare of Irish cider and ale in 2019 was 94.46 for alcohol content of 2.9% to 5.9% for Irish whiskey. Thus, for cider with up to 6% alcohol by volume, Ireland's excise ratio is 110.4% which is higher than the UK's rate. The tax rate on spirits is 10.99% in Ireland, much higher than the European Union which is a minimum of 1.54%. In 15 states, the tax rate is less than 3%. Global Irish whiskey declined in the 20th century, due to the advent of blended whiskeys around the world. In addition, additional factors such as the independence of Ireland in the 1920s and the trade war with Britain along with the American Prohibition in the 1930s hampered the production and exports of the markets which is considered to be a major restraining factor for the Irish whiskey market. The arrival of e-commerce and the growing demand for premium beverages are creating a huge opportunity for the market: The Irish Whiskey Association has indexed e-trade as a place of boom possibility for most of the whiskey companies. The Irish Independent Lavelle, says that 2020 has seen a boom in the sale of Irish whiskey online and this has played a key role in creating lucrative growth for the market during the forecast period. E-commerce is set to become an increasingly important sales channel in the future and it has provided Irish whiskey brands unique opportunities to penetrate markets and consumer segments new use. Strict Government rules and regulations for alcohol are creating challenging factors for the market: One of the major challenges concerns is government rules and regulations. For example, drinking alcohol is banned in various countries, especially those with majority Muslim populations such as Saudi Arabia, Libya, Yemen, Pakistan, and others, thus posing a major challenge to Ireland's overall growth of the whiskey market.
Irish Whiskey Market Segment Analysis:Based on Product, the market is segmented into blended, single malt, single pot, and single grain. The blended segment is expected to hold 32.10% of the overall market share in terms of revenue by 2027. Blended whiskey contains a mixture of different whiskeys such as malts and grains. Whiskeys vary according to their type, but especially in terms of their provenance, which means the distillery, they come from. This blending technique allows the blender to achieve the specific flavour required which is driving the growth of the Irish whiskey market. However, the single malt Irish whiskey segment is expected to grow at a CAGR of 9.2% during the forecast period. Single malt whiskey is made from a fermented mashed blend of a single malt grain, at a single distillery. It is aged in oak for at least 3 years, and consumers prefer this type of whiskey according to their preference of taste. Based on Pricing, the Irish Whiskey is segmented into Mass, Premium and Others. The premium segment is expected to dominate the Irish Whiskey market during the forecast period. The premium segment is the largest and fastest-growing segment of the whiskey market. The growth of this segment is due to the increase in demand and consumption of fine whiskey in developed regions such as Europe and North America. An increase in club and pub visits has also fuelled an increase in demand. In addition, the preference for alcoholic beverages with authentic product categories and strong flavours has increased the demand for premium beverages. However, the Mass segment is expected to grow at a CAGR of 4.5% during the forecast period. The mash bill contains at least 30% natural, raw, and non-peated malted barley, a minimum of 30% unmalted barley and a maximum of 5% other unmalted cereals like oats or rye.
Irish whiskey Market Regional Insights:North American regions accounted for the largest market share of 59.24% in recent years. The US remains the largest market for Irish people over whiskey, with about five million cases sold in 2019 and 2020, accounting for 43% of the total Selling Irish whiskey. The current growth trajectory is expected to continue and will be further supported by increased availability to more premium consumers aged Irish whiskey, as well as the rise of e-commerce. The United States is expected to continue to grow at a remarkable rate of growth, representing the highest share during the forecast period. The growth of the market in this region is due to the increase in population and the increasing use of alcohol in general. Sales of Irish whiskey are up 8.6% in 2020 in the United States. Irish whiskey has become the fastest-growing spirits sector in the United States but accounts for only 2% of total U.S. spirits production and 7% market share among all whiskeys. The objective of the report is to present a comprehensive analysis of the global market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants. PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market has been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The reports also help in understanding the market dynamics, structure by analyzing the market segments and projecting the market size. Clear representation of competitive analysis of key players by Technology, price, financial position, product portfolio, growth strategies, and regional presence in the global market makes the report investor's guide.
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Global Irish Whiskey Market Report Coverage Details Base Year: 2020 Forecast Period: 2021-2027 Historical Data: 2016 to 2020 Market Size in 2020: US $ 4.48 Bn. Forecast Period 2021 to 2027 CAGR: 9.2% Market Size in 2027: US $ 8.3 Bn. Segments Covered: by Product • Blended • Single Malt • Single Pot • Single Grain by Pricing • Premium • Mass • Others
Irish whiskey Market by Region• North America • Europe • Asia Pacific • Latin America • The Middle East and Africa
Irish Whiskey Market Key Players• Diageo • Pernod Ricard • William Grant & Sons • West Cork Distillers • Knappogue Castle Whiskey • Castle Brand • Beam Suntory Inc. • Jameson Irish whiskey • Teeling Distillery • The Old Bushmills Distillery Co. • Brown-Forman Frequently Asked Questions: 1] What segments are covered in the Irish whiskey Market report? Ans. The segments covered in the Irish Whiskey Market report are based on Product and Pricing. 2] Which region is expected to hold the highest share in the Irish whiskey Market? Ans. The North American region is expected to hold the highest share in Irish whiskey. 3] What is the market size of Irish whiskey by 2027? Ans. The market size of Irish whiskey is expected to be 8.3 Bn by 2027. 4] What is the forecast period for the Irish whiskey Market? Ans. The forecast period for Irish whiskey is 2021-2027. 5] What was the market size of Irish whiskey in 2020? Ans. The market size of Irish whiskey in 2020 was US$ 4.48 Bn.
1. Irish Whiskey Market Size: Research Methodology 2. Irish Whiskey Market Size: Executive Summary 2.1. Market Overview and Definitions 2.1.1. Introduction to Global Irish Whiskey Size 2.2. Summary 2.2.1. Key Findings 2.2.2. Recommendations for Investors 2.2.3. Recommendations for Market Leaders 2.2.4. Recommendations for New Market Entry 3. Irish Whiskey Market Size: Competitive Analysis 3.1. MMR Competition Matrix 3.1.1. Market Structure by region 3.1.2. Competitive Benchmarking of Key Players 3.2. Consolidation in the Market 3.2.1 M&A by region 3.3. Key Developments by Companies 3.4. Market Drivers 3.5. Market Restraints 3.6. Market Opportunities 3.7. Market Challenges 3.8. Market Dynamics 3.9. PORTERS Five Forces Analysis 3.10. PESTLE 3.11. Regulatory Landscape by region • North America • Europe • Asia Pacific • The Middle East and Africa • Latin America 3.12. COVID-19 Impact 4. Irish Whiskey Market Size Segmentation 4.1. Irish Whiskey Size, by Product (2020-2027) • Blended • Single Malt • Single Pot • Single Grain 4.2. Irish Whiskey Size, by Pricing (2020-2027) • Mass • Premium • Others 5. North America Irish Whiskey Market (2020-2027) 5.1. North America Irish Whiskey Size, by Product (2020-2027) • Blended • Single Malt • Single Pot • Single Grain 5.2. North America Whiskey Size, by Pricing (2020-2027) • Mass • Premium • Others 5.3. North America Irish Whiskey, by Country (2020-2027) • United States • Canada • Mexico 6. European Irish Whiskey (2020-2027) 6.1. European Irish Whiskey, by Product (2020-2027) 6.2. European Irish Whiskey, by Pricing (2020-2027) 6.3. European Irish Whiskey, by Country (2020-2027) • UK • France • Germany • Italy • Spain • Sweden • Austria • Rest Of Europe 7. Asia Pacific Irish Whiskey (2020-2027) 7.1. Asia Pacific Irish Whiskey, by Product (2020-2027) 7.2. Asia Pacific Irish Whiskey, by Pricing (2020-2027) 7.3. Asia Pacific Irish Whiskey, by Country (2020-2027) • China • India • Japan • South Korea • Australia • ASEAN • Rest Of APAC 8. The Middle East and Africa Irish Whiskey (2020-2027) 8.1. The Middle East and Africa Irish Whiskey, by Product (2020-2027) 8.2. The Middle East and Africa Irish Whiskey, by Pricing (2020-2027) 8.3. The Middle East and Africa Irish Whiskey, by Country (2020-2027) • South Africa • GCC • Egypt • Nigeria • Rest Of ME&A 9. Latin America Irish Whiskey (2020-2027) 9.1. Latin America Irish Whiskey, by Product (2020-2027) 9.2. Latin America Irish Whiskey, by Pricing (2020-2027) 9.3. Latin America Irish Whiskey, by Country (2020-2027) • Brazil • Argentina • Rest Of Latin America 10. Company Profile: Key players 10.1. Diageo 10.1.1. Company Overview 10.1.2. Financial Overview 10.1.3. Global Presence 10.1.4. Capacity Portfolio 10.1.5. Business Strategy 10.1.6. Recent Developments 10.2. Pernod Ricard 10.3. William Grant & Sons 10.4. West Cork Distillers 10.5. Knappogue Castle Whiskey 10.6. Castle Brand 10.7. Beam Suntory Inc. 10.8. Jameson Irish whiskey 10.9. Teeling Distillery 10.10. The Old Bushmills Distillery Co. 10.11. Brown-Forman