Scottish Whisky Market Poised for 7.1% CAGR Growth, Projected to Reach USD 56.64 Bn by 2031 | Angus Dundee Distillers Plc, Douglas Laing

Market Overview:

The Scottish whisky market is estimated to be valued at USD 35.04 Bn in 2024 and is expected to reach USD 56.64 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 7.1% from 2024 to 2031.

Market Dynamics:

The Scottish whisky market is driven by increasing consumption of premium spirits globally and tourism growth in Scotland. Globally, consumers are willing to spend more on premium alcoholic drinks and unique tasting experiences. This favors the Scottish whisky market. Moreover, tourism is a major revenue generator for the Scottish economy. The number of tourists traveling to Scotland has grown substantially over the past few years. Prominent distilleries in Scotland have become major tourist attractions. This increases awareness and trial of Scottish whisky brands among new consumers.

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Scottish Whisky Market Drivers: Tourism is driving the sales of Scottish Whisky

Tourism has emerged as a major market driver for the Scottish whisky industry. International tourist arrivals in Scotland have been rising year on year and this upward trend is expected to continue in the coming years. As more tourists visit Scotland, their interaction with the long tradition and heritage of Scotch whisky enhances their willingness to purchase whisky as souvenirs or gifts. Popular distilleries have established visitor centers and tasting rooms where tourists can learn about the production process and sample different varieties. This direct engagement with the brand and product is highly effective in converting first time buyers into repeat customers. The beautiful landscapes and relaxing environment associated with Scottish whisky drinking also makes it appealing to gift or bring back for friends and family. Hence, tourism is opening new audiences for the industry and driving sales volumes.

Scottish Whisky Market Opportunity: Growing interest in niche craft whiskies

Craft whisky distilleries are becoming a new opportunity area for the Scottish market. With the surge in demand for unique drinking experiences and small-batch offerings, consumers have developed a taste for craft-distilled spirits produced in limited quantities. Several new independent distilleries have sprung up over the past decade focusing on innovative production methods, experimentation with alternative grains, and unconventional flavor profiles. Their whiskies target niche segments discerning about quality, provenance and artisanal attributes. While forming a relatively small portion of total Scotch volumes currently, the craft sector is poised for faster growth. Larger industry players have also started acquiring smaller brands to participate in the premium craft opportunity. As interest expands worldwide, resources are being dedicated to nurture new distilleries, educate buyers about craft qualities and grow a distinct craft whisky movement in Scotland. This presents new profit pools and a means to rejuvenate regional distilling traditions.

Scottish Whisky Market Trends: Sustainability initiatives strengthen brand value and trust

Sustainability has become an important market trend as responsible practices positively impact brand power over the long term. Scottish distillers are implementing energy and water conservation methods during production. Distilleries further collaborate with local barley growers promoting sustainable agriculture. Diverse initiatives include using renewable biomass boilers, solar panels, grain stillage recycling, peatland restoration, wastewater management and participation in environmental responsibility schemes and certifications. Beyond regulations, such voluntary actions demonstrate commitments to future proofing natural resources as well as surrounding communities. Consumers today favor brands which prioritize sustainable growth along with profits. Communicating green

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Top Companies Included in This Report:

• Angus Dundee Distillers Plc
• Douglas Laing
• Craft56
• Diageo
• DEWAR'S
• Aberfeldy
• Royal Brackla
• Balblair Distillery Co Ltd.
• The English Distillery
• Bruichladdich Distillery
• Islay
• Copper Rivet Distillery
• Tomatin Distillery Co Ltd
• The Glenturret Distillery
• Kilchoman Distillery
• The Borders Distillery
• Loch Lomond Whiskies
• William Grant and Sons Ltd.
• Bowmore Distillery
• Edrington
• LVMH

Market Segmentation:

Based on Product Type:

• By Product Type: Single Malt Scotch Whisky, Blended Scotch Whisky, Single Grain Scotch Whisky, Blended Malt Scotch Whisky, and Blended Grain Scotch Whisky
• By Price Range: Premium, High End Premium, and Super Premium
• By Distribution Channel: On Trade (Restaurants & Bars, Liquor Stores, Others), Off Trade (Supermarket & Hypermarket, Discount Stores, and Others (Online Stores, etc.)

Key Regions/Countries Classified as Follows:

» North America (U.S., Canada, Mexico)

» Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)

» Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of APAC)

» South America (Brazil, Argentina, Rest of SA)

» Middle East & Africa (Turkey, Saudi Arabia, Iran, UAE, Africa, Rest of MEA)

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