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Redding, California - November 7, 2024

Scotch Whiskey Market to Reach $22.83 Billion by 2031

Scotch Whiskey Market Size, Share, Forecast, & Trends Analysis by Product Type (Single Malt Scotch Whiskey, Blended Scotch Whiskey), Product Quality (Value, Premium, High-end Premium), Distribution Channel (Off-trade, On-trade) - Global Forecast to 2031

Meticulous Research^®—a leading global market research company, published a research report titled ‘Scotch Whiskey Market—Global Opportunity Analysis and Industry Forecast (2024-2031).’ According to this latest publication from Meticulous Research^®, the scotch whiskey market is expected to reach $22.83 billion by 2031, at a CAGR of 7.3% from 2024 to 2031.

The scotch whiskey market is driven by growing consumer preference for premium scotch whiskies, the increasing availability of scotch whisky in distinctive flavors, and rising demand for organic scotch whiskey. However, the emergence and increasing popularity of innovative non-alcoholic beverages and increasing campaigns against alcohol consumption restraints the market’s growth.

Furthermore, emerging economies in Asia and Latin America, coupled with the expansion of e-commerce channels worldwide, present significant growth opportunities for market players. However, government regulations and the need for brand protection due to the risk of counterfeiting are some of the key challenges affecting market growth.

Additionally, the rising popularity of luxury scotch whiskies, along with advancements in production technology and packaging, are some of the prominent trends in the scotch whiskey market.

Key Players:

The scotch whiskey market is characterized by a moderately competitive scenario due to the presence of many large and small-sized global, regional, and local players. The key players operating in the scotch whiskey market are Diageo plc (U.K.), Suntory Global Spirits Inc. (U.S.), William Grant & Sons Limited (U.K.), La Martiniquaise (France), The Edrington Group Limited (U.K.), Whyte and Mackay Limited (U.K.), Loch Lomond Distillers Limited (U.K.), Asahi Group Holdings, Ltd. (Japan), Ian Macleod Distillers Limited (U.K.), and Pernod Ricard S.A. (France).

The scotch whiskey market is segmented based on product type, product quality, and distribution channel. The report also evaluates industry competitors and analyzes the scotch whiskey market at the regional and country levels.

By product type, in 2024, the blended scotch whiskey segment is expected to account for the largest share of the scotch whiskey market. The substantial market share of this segment is primarily due to its ability to combine different malt and grain whiskies, which enables producers to create consistent and approachable products that cater to diverse consumer preferences. Blended scotch whiskey offers a broad range of flavor profiles, making it appealing to both novice drinkers and seasoned enthusiasts. Moreover, blended scotch whisky is generally more affordable and has consistently been the preferred choice for millions of consumers.

By product quality, in 2024, the super-premium segment is expected to account for the largest share of the scotch whiskey market. The large market share of this segment is attributed to the growing consumer demand for high-quality, luxury whiskey, an uptick in spending on rare, small-batch, and limited-edition offerings, and a preference for more premium alcoholic beverages.

By distribution channel, in 2024, the off-trade segment is expected to account for a larger share of the scotch whiskey market. The off-trade segment encompasses retail outlets such as supermarkets & hypermarkets, convenience stores, specialty stores, and other distribution channels. The large market share of this segment is mainly due to its extensive reach and convenience. Consumers often assess product quality, ingredients, and brand before making a purchase, making off-trade channels key drivers of product sales.

This research report analyzes major geographies and provides a comprehensive analysis of North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Russia, Spain, Poland, Austria, Netherlands, Switzerland, Belgium, Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia, Malaysia, Thailand, Vietnam, Singapore, Philippines, Taiwan, Rest of Asia-Pacific), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), and the Middle East & Africa.

By geography, in 2024, Europe is expected to account for the largest share of the scotch whiskey market, followed by North America, Asia-Pacific, Latin America, and the Middle East & Africa. Europe’s significant market share can be attributed to several factors, including a large consumer base with strong brand loyalty, a well-established whisky culture, and a robust economy. Additionally, the growing popularity of premium and flavored scotch whiskies, continuous innovation in the alcoholic beverages sector, increased investments in production capacity, and the rise of cocktail culture and mixology are contributing to the market's growth in the region. Moreover, the increasing demand for scotch whiskey from the food service industry, particularly in bars and restaurants, is further boosting market growth in Europe.

Download Sample Report Here @ https://www.meticulousresearch.com/download-sample-report/cp_id=6077

Key Questions Answered in the Report-

What is the revenue generated from the sales of scotch whiskey?
At what rate is the global demand for scotch whiskey projected to grow for the next five to seven years?
What is the historical market size and growth rate for the scotch whiskey market?
What are the major factors impacting the growth of this market at global and regional levels?
What are the major opportunities for existing players and new entrants in the market?
Which product type, product quality, and distribution channel segments create major traction for the manufacturers in this market?
What are the key geographical trends in this market? Which regions/countries are expected to offer significant growth opportunities for the manufacturers operating in the scotch whiskey market?
Who are the major players in the scotch whiskey market? What are their specific product offerings in this market?
What recent developments have taken place in the scotch whiskey market? What impact have these strategic developments created on the market?

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Redding, California - November 7, 2024

Scotch Whiskey Market to Reach $22.83 Billion by 2031

Scotch Whiskey Market Size, Share, Forecast, & Trends Analysis by Product Type (Single Malt Scotch Whiskey, Blended Scotch Whiskey), Product Quality (Value, Premium, High-end Premium), Distribution Channel (Off-trade, On-trade) - Global Forecast to 2031

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