pune, India -- (SBWIRE) -- 05/02/2018 -- Market Overview:
The global whiskey market has witnessed impressive growth over the last couple of years driven by a number of favorable factors. Market Research Future, a firm which specializes in market reports related to the Food, Beverages & Nutrition sector among others, recently forecasted in its report on global Whiskey Market Research Report- Forecast to 2022 that the market will demonstrate an exceptional CAGR while achieving million dollar growth readily in the forecast period.
Over the years, the change in consumers' preferences and drinking habits, and their wider global exposure, along with an increasingly younger population, the growth in the middle class, rising pubbing culture, and the hectic work life schedule has given a boost to the whiskey sales. The demand of the whiskey is increasing rapidly in the European countries owing to the launch of new products. Manufacturers are also extending brand by launching the products in a different flavored. Increasing curiosity among the consumers to try these products which is offering a positive impact in the global whiskey market during the forecast period.
In addition, rising growth of whiskey market is attributed to the increasing social media marketing by the key players. Premiumisation is gaining traction in the global whiskey market owing to the increasing per capita disposable income of the consumers in the developing economies. Consumers are more inclined to pay extra amount to obtain the good quality products. Whiskey manufacturers find huge opportunity in the organic whiskey products because consumers are aware of the adverse effect of the chemical ingredients.
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Major Key Players:
Market players in whiskey market are emphasizing in the merger & acquisition activities in order to upsurge the product portfolio of the company. Also, the manufacturers are also investing in the whiskey processing plant to increase the product portfolio.
The strategic sales plan of Whiskey manufacturers include use of online channels for marketing. For that, key manufacturers are entering into a collaboration with the online channels in order to reach maximum customers and also to upsurge the brand value of the product. Key players in the whiskey market, is inclined to introduce new products in the market or to extend the product line of renowned product. Also, the company promotes their new products on social media in order to reach many customers. This promotional strategy aids to retain the existing the customers and also to acquire new customers. Also, the key manufacturers are focusing in the packaging of the whiskey. Today packaging is not only used to increase the shelf life of the product but also it aids to upsurge the brand value of the product.
The key players profiled in Whiskey are Allied Blenders and Distillers Pvt. Ltd (India), Beam Suntory (U.S.), Brown-Forman (U.S.), Pernod Ricard (France), Diageo (U.K.), Bacardi (Bermuda), Heaven Hill Distilleries (U.S.), Constellation Brands, Inc. (U.S), Distell Group limited (South Africa), Radico Khaitan (India).
Latest Industry Updates:
Mar 2017 Sula Vineyards launched Eclipse premium whisky in India
Jan 2017 Diageo Plc. launched New Irish Whiskey Brand in Europe
Nov 2017 Proximo launched a new brand of irish whiskey
Sep 2016 United Spirits launched first flavored whiskey in India under the brand name of "Silk Honey Flavored"
Global Whiskey market has been divided into source, type, origin, process and Region
On the Basis of Source: Malt, Grain, Blended, and others
On the Basis of Type: Bourbon/Rye, Scotch, Cask Finish, and others
On the Basis of Process: Pot Still Distillation, Column Still Distillation and Others
On the Basis of Region: North America, Europe, Asia Pacific and Rest of the World
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The global whiskey market is segmented into North America, Europe, Asia Pacific and Rest of the World. Among all the region, Europe is estimated to account for the major market proportion in the year of 2017. The region is estimated to retain its dominance throughout the forecast period of 2017-2022. U.K and Germany are the major consuming countries of whiskey in Europe. Presence of key manufacturers in the European countries is considered to be one of the significant reasons for the rising growth of whiskey. Also, key manufacturers are focusing in the new product development which in turn escalates the sales of whiskey in Europe. However, Asia Pacific region is expected to expand at a high growth rate during the forecast period of 2017-2022. China and India are collectively accounting for the 50% of the overall Asia Pacific market. The growth of the Asia Pacific region is anticipated to be driven by the increasing youth population coupled with the increasing disposable income of the consumers.