Scottish Whisky Market Growth Accelerated by Increasing Consumption of Premium Whisky

 

Scottish whisky is a distilled alcoholic beverage made from malted barley in Scotland. Whisky is produced by fermenting grain mash and then distilling it to increase the alcohol content. Scottish whisky is aged in oak barrels for 3 years or more, which gives it unique flavor and color. Whisky consumption results in health benefits such as reduced risk of heart disease and helps relax the body. The global Scottish Whisky Market is estimated to be valued at US$ 7.69 Bn in 2024 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:

The increasing consumption of premium whisky around the world is one of the key trends driving the growth of the Scottish whisky market. Consumers are increasingly opting for high-quality single malt and blended malts whiskies and are willing to pay premium prices. This is encouraging whisky producers to focus on premiumization of their products by using high-quality ingredients and aging them for longer durations to capture this consumer segment. The premiumization trend has led to innovations in cask finishing and exclusive editions, fueling market revenue growth. Furthermore, the trend of premium whisky consumption is being led by countries like the United States, China, and India where affluent consumers are gravitating towards luxury goods.

Segment Analysis
The global Scottish whisky market is dominated by the single malt scotch sub-segment. Single malt scotch accounts for over 45% of the total scotch whisky market due to its superior quality and smooth taste. Being made from malted barley without any added cereals, single malt scotch has gained popularity among premium and luxury drink consumers globally.

Key Takeaways
The Global Scottish Whisky Market Size is expected to witness high growth.

Regional analysis: The Western Europe region currently dominates the global Scottish whisky market with over 60% share due to strong consumption and cultural preference for scotch whisky in countries like the UK, Ireland, Germany, and France. Asia Pacific is expected to be the fastest growing market during the forecast period owing to the rising disposable income, growing middle-class population, and increasing popularity of premium whiskey drinks in countries like China, India, and Japan.

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, Degrémont Technologies - SUEZ, 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.

For More Insights, Read: https://www.newswirestats.com/scottish-whisky-market-size-share-and-growth-forecast-2023-2030/

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