Irish Whiskey Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Irish Whiskey Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

The global Irish whiskey market size reached US$ 4.7 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 7.5 Billion by 2028, exhibiting a growth rate (CAGR) of 7.44% during 2023-2028. The increasing preference for premium alcoholic beverages, rising number of distilleries, and the growing popularity of home delivery services represent some of the key factors driving the market.

Irish whiskey is a dark distilled spirit made using triple distillation from a yeast-fermented mash of malted cereal grains, such as corn, rye, wheat, and barley. It is rich in zinc, iron, phosphorus, thiamine, niacin, vitamins, minerals, ellagic acid, and other essential nutrients. It also has antioxidants which are compounds that help protect the body against damage from free radicals. It aids in promoting relaxation, improving digestion, and minimizing the risk of developing pneumonia, hypertension, tuberculosis, obesity, and heart diseases. At present, key players operating worldwide are introducing novel variants, such as apple, berries, mint, spiced, coffee, and honey, to expand their product portfolio.

Irish Whiskey Market Trends:
There is an increase in the preferences for premium alcoholic beverages on account of the expanding purchasing power of consumers. This, coupled with the growing adoption of western drink culture and significant growth in the food and beverages (F&B) industry, represents one of the major factors driving the demand for Irish whiskey around the world. In addition, there is a rise in the number of commercial spaces, such as distilleries, microbreweries, cafes, pubs, restaurants, bars, and hotels, which offer a variety of Irish whiskey-based experimental cocktails. This, along with the increasing collaboration of Irish whiskey brands with these establishments to launch various endorsement programs, is strengthening the growth of the market. Moreover, the growing use of Irish whiskey in the preparation of different fancy food recipes, such as truffles, cheesecakes, mousse, ice cream, brownies, tiramisu, pudding, and oatmeal, is influencing the market positively. Besides this, the increasing awareness among the masses about the benefits of consuming Irish whiskey as compared to other alcoholic beverages is propelling the growth of the market. Apart from this, key players are focusing on investing in different marketing strategies, such as celebrity endorsements and social media campaigns, to expand their market reach. They are also adopting innovative and environment-friendly packaging due to the emerging trend of gifting unique premium items, such as Irish whiskey. Furthermore, the growing popularity of home delivery services through online portals that provide convenience, vast collection, and fast shipping facilities is creating a positive outlook for the market.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global Irish whiskey market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on type, pricing and sales channel.

Type Insights:

Blended
Single Malt
Single Pot Still
Single Grain

The report has provided a detailed breakup and analysis of the Irish whiskey market based on the type. This includes blended, single malt, single pot still, and single grain. According to the report, blended represented the largest segment.

Pricing Insights:

Mass
Premium

A detailed breakup and analysis of the Irish whiskey market based on the pricing has also been provided in the report. This includes mass and premium. According to the report, premium accounted for the largest market share.

Sales Channel Insights:

On-trade
Off-trade

The report has provided a detailed breakup and analysis of the Irish whiskey market based on the sales channel. This includes on-trade and off-trade. According to the report, off-trade represented the largest segment.

Regional Insights:

North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa

The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, North America (the United States and Canada) was the largest market for Irish whiskey. Some of the factors driving the North America Irish whiskey market included increasing tourist visit, product innovations, rising marketing strategies, etc.

Competitive Landscape:
The report has also provided a comprehensive analysis of the competitive landscape in the global Irish whiskey market. Competitive analysis such as market structure, market share by key players, player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided. Some of the companies covered include Beam Suntory Inc. (Suntory Holdings Limited), Boann Distillery, Brown-Forman Corporation, Connacht Whiskey Company Limited, Diageo plc, Edrington, Pernod Ricard, Sazerac Company Inc., Teeling Whiskey Distillery, West Cork Distillers, and William Grant & Sons Ltd., etc. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.

Key Questions Answered in This Report

1. What was the size of the global Irish whiskey market in 2022?
2. What is the expected growth rate of the global Irish whiskey market during 2023-2028?
3. What are the key factors driving the global Irish whiskey market?
4. What has been the impact of COVID-19 on the global Irish whiskey market?
5. What is the breakup of the global Irish whiskey market based on the type?
6. What is the breakup of the global Irish whiskey market based on the pricing?
7. What is the breakup of the global Irish whiskey market based on the sales channel?
8. What are the key regions in the global Irish whiskey market?
9. Who are the key players/companies in the global Irish whiskey market?