Irish Whiskey Market is Estimated To Witness High Growth Owing To...

Irish Whiskey Market is Estimated To Witness High Growth Owing To Increasing

Posted 2023-10-27 13:53:28

SWOT Analysis
Strengths: Protected geographical indication; strong brands and heritage; growing global fame and popularity.
Weaknesses: Declining domestic volumes; dependence on exports making revenues vulnerable to economic factors abroad.
Opportunities: Rising experimentation and craft styles; popularity among millennials and women; Asia Pacific markets offer scope for expansion.
Threats: Stringent regulations and high excise duties; health consciousness and competition from alternate drinks.

Key Takeaways
The global Irish Whiskey Market Share is expected to witness high growth, exhibiting CAGR of 7.44% over the forecast period, due to increasing consumption in Asia Pacific and North America driven by rising disposable incomes, growing premiumization, and expanding experimental flavors. Regional analysis: North America leads consumption, holding over 40% value share in 2022 led by the US. Asia Pacific is the fastest growing region expanding at a CAGR of around 9% due to economic development in large markets like China and India. Key players: Key players operating in the Irish whiskey market are Beam Suntory, Brown-Forman, Diageo, Pernod Ricard, William Grant & Sons, and Castle Brands.