The launch of new products is one of the major trends being witnessed in the global whisky market. Players in the market are developing new products to cater to the consumer demand for variety and novelty. A successful product launch helps to expand the consumer base and increase the flow of revenue.
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In this report, according to Technavio analysts, one of the key factors contributing to the growth of the global whisky market is the increasing demand for Irish whiskey and American bourbon:
Global whisky market: Increasing demand for Irish whiskey and American bourbon
Irish whiskey is the fastest growing category of alcohol across the globe. The increasing demand for Irish whiskey and American bourbon is expected to boost the global whiskey market in 2017. Irish whiskey held a relatively small share of the global whiskey market in 2017, however, the demand for this spirit is increasing rapidly. The smooth, sweet taste, competitive pricing and increasing popularity among women and millennials is leading to the growth of this segment.
According to a senior analyst at Technavio for research on alcoholic beverages, “The increasing demand for American bourbon has led players in the market to increase their production capacities and set up new distilleries. For instance, the number of distilleries has increased significantly in Kentucky, US, which is the production hub of bourbon whiskey.”
Global whisky market: Segmentation and analysis
This market research report segments the global whisky market by product (Scotch, American, Canadian, Irish and others), and geography (APAC, the Americas, and EMEA). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
In 2017, APAC accounted for the major share in the global whisky market, followed by the Americas and EMEA. APAC is expected to exhibit the largest increase in its market share over the forecast period, while the Americas is expected to witness a significant decrease in its market share.
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