whisky growth

Compound Annual Growth Rate Increase of 5.2% in Volume Predicted For Scotch Whisky

Scotch whisky continues to assert its dominance in the global spirits market, with a compound annual growth rate (CAGR) increase of 5.2% in volume predicted from 2023 – 2028, according to a recent study released by GlobalData, Next-Gen Beverages: Bridging Affordability, Sensory, and Gen Z Preferences.

This robust growth reflects broader trends in the spirits category, which is poised to outpace beer and wine in global market share as consumer preferences shift toward premium, high-quality beverages.

One of the driving forces behind this growth is the significant consumer shift toward premium and super-premium spirits. These categories, which include artisanal and high-quality products, have experienced notable value growth—up 1.8% in 2022 compared to 2018. This trend highlights an increasing willingness among consumers to invest in luxury, crafted products, with Scotch whisky standing out as a top choice in the premium segment.

Markets in Asia, particularly China and India, are emerging as critical drivers for Scotch whisky’s growth. With a rising middle class and expanding consumer interest in luxury goods, these markets are showing strong potential for future expansion. Asia’s growing appetite for premium Scotch whisky aligns perfectly with the category’s ongoing focus on delivering high-quality products.

Brands are also aligning with shifting consumer priorities by emphasizing sustainability in production. This commitment to environmentally conscious practices not only resonates with today’s consumers but also solidifies Scotch whisky’s reputation as a responsible and forward-thinking industry leader.

As the spirits market evolves, Scotch whisky remains resilient at the forefront of the premium and super-premium segments. With ongoing innovation, sustainability efforts and expansion into developing markets, the industry is well-positioned to maintain its strong growth trajectory. 

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