Russia Whiskey Market Overview, 2028

Russia Whiskey Market Overview, 2028

Russians value premium spirits and have a desire for sophisticated drinking experiences. The whisky market in Russia is thriving, fueled by a growing appreciation for its rich flavours, heritage, and status as a symbol of sophistication and luxury. Whisky is often associated with luxury, elegance, and refinement in Russian culture. It is viewed as a symbol of status and prestige, and drinking whisky can be seen as a way to demonstrate sophistication and good taste. Whisky is often seen as a collectible item in Russia. Many whisky enthusiasts and collectors actively seek out rare and limited-edition bottles, and there is a growing interest in exploring the nuances of different whisky styles and brands. While whisky is often enjoyed neat or on the rocks, there is also a growing interest in whisky-based cocktails and mixology in Russia. Whisky cocktails, such as the Old Fashioned or Whisky Sour, are gaining popularity among the younger generation. Whisky is often enjoyed in social settings, such as gatherings, celebrations, and special occasions. It is common to share a bottle of whisky among friends or business associates as a way of fostering connections and enjoying leisurely conversations. While Russia primarily imports whisky, there is also a growing interest in local whisky production. Several distilleries in Russia have started producing their own whisky, incorporating traditional techniques and experimenting with local ingredients. This trend showcases the entrepreneurial spirit and creativity within the Russian whisky market.

According to the research report Russia Whisky Market Overview, 2028, published by Bonafide Research, the Russia Whisky Market is expected to grow at above 6.21% CAGR from 2023 to 2028. In Russia, whisky made from malted barley is generally preferred. Malt whisky, including single malt Scotch whisky, is highly regarded for its rich and complex flavours. It tends to have a dedicated following among Russian whisky enthusiasts. However, there is also a growing interest in other grain types, such as corn and rye, as consumers in Russia explore a wider range of whisky styles and flavours. In Russia, Scotch whisky is generally more preferred and highly regarded among whisky enthusiasts. The distinct and diverse range of Scotch whisky styles, including single malt, blended malt, and blended Scotch, appeals to the Russian market. Single-malt Scotch whisky, in particular, is often sought after for its craftsmanship, flavour profiles, and perceived prestige. There is also a growing interest in other international whisky styles, such as American bourbon, Irish whisky, and Japanese whisky, as Russian consumers explore and appreciate the unique characteristics of these offerings. Ultimately, the preference for a specific type of whisky may vary among individuals based on personal taste and preferences. Whisky tastings, festivals, and other events are popular in Russia. Providing opportunities for enthusiasts to explore different whisky brands, attend masterclasses, and engage with experts in the field Which include Whisky Fest, Moscow Whisky Festival, Whisky & Spirits Expo, Whisky & Spirits Expo, Whisky Club Events, Whisky Masterclasses, and Whisky Pairing Dinners.

The manufacture, importation, and sale of whisky are subject to government laws in Russia. The Federal Service for Alcohol Market Regulation (FSAMR) and the Federal Service for the Regulation of the Alcohol Market (FSRAR) are largely responsible for enforcing the regulations. Whisky producers, importers, and distributors are required to obtain the necessary licences and permits to operate legally in Russia. It is subject to excise taxes in Russia, which are levied based on the alcohol content and volume of the product. The tax rates may vary depending on the type and origin of the whisky. Whiskies that carry an age statement on their labels must adhere to the regulations regarding the minimum age requirement. The age statement indicates the youngest whisky in the blend, and it must be accurate and verifiable. Johnnie Walker, Chivas Regal, Jack Daniel's, Jameson, and Glenfiddich offer a range of whisky styles, including blended Scotch whisky, single malt Scotch whisky, Irish whisky, and bourbon. There are several major supermarket and hypermarket chains that sell whisky. X5 Retail Group,Magnit, Lenta, Auchan, and Metro Cash & Carry Online shopping has also gained popularity in Russia, and there are several online retailers specialising in alcoholic beverages, including whisky. These platforms offer convenience and a wide range of whisky options for consumers. WineStyle, WineLab, SimpleWine, VinoGrad, and AlcoShop are providing whisky through online channels.

The younger generation in Russia is increasingly open to trying new and diverse alcoholic beverages, including whisky. This shift in consumer preferences is driven by factors such as globalization, exposure to international cultures, and the desire for new experiences. As a result, there is a growing demand for whisky among this demographic. The availability of information and educational resources about whisky has helped Russian consumers develop a better understanding and appreciation for the spirit. Whisky tasting events, masterclasses, and online platforms have played a significant role in educating consumers about different whisky styles, production methods, and flavour profiles. This has led to a greater demand for a wider variety of whisky options. Economic fluctuations and uncertainties can have an impact on consumer spending patterns. During periods of economic downturn, consumers may prioritise essential items over luxury or high-end products like whisky. Fluctuating exchange rates and inflation can also affect the affordability of imported whisky brands. Government regulations and policies related to alcohol can influence the growth and profitability of the whisky market. Changes in tax rates, importation regulations, and advertising restrictions can impact the availability, affordability, and marketing strategies of whisky brands. Uncertainty surrounding regulatory changes can create challenges for the industry.

Considered in this report
• Geography: Russia
• Historic year: 2017
• Base year: 2022
• Estimated year: 2023
• Forecast year: 2028

Aspects covered in this report

• Russia Whiskey Market with its value and forecast along with its segments
• Various drivers and challenges
• On-going trends and developments
• Top profiled companies
• Strategic recommendation

By Grain Type

• Malt/ Barley Whisky
• Wheat Whisky
• Rye Whisky
• Corn Whisky
• Blended Whisky
• Others

By Type

• Scotch Whiskey
• American Whiskey
• Irish Whiskey
• Canadian Whiskey
• Japanese Whiskey
• Others

By Quality

• Premium
• High-End Premium
• Super Premium

By Beverage Type

• Alcoholic
• Non-Alcoholic

By Flavor

• Non-Flavored
• Flavored

By Distribution Channel
• Off Trade
• On Trade

The approach of the report:
This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and listing out the companies that are present in the market. The secondary research consists of third-party sources such as press releases, annual report of companies, analyzing the government generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducted trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers in regional aspects, tier aspects, age group, and gender. Once we have primary data with us. we have started verifying the details obtained from secondary sources.

Intended audience
This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to whiskey industry, government bodies and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.