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Global Flavored Whiskey Market to reach USD 44.50 billion by the end of 2029.

Global Flavored Whiskey Market Size study & Forecast, by Type (Honey Flavored Whiskey, Caramel Flavored Whiskey, Fruit Flavored Whiskey, Others), By Application (Retail, Hotel, Restaurants and Catering Services) and Regional Analysis, 2022-2029

Product Code: OIRFB-66743469
Publish Date: 24-04-2023
Page: 200

Global Flavored Whiskey Market is valued at approximately USD 25.14 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 7.4% over the forecast period 2022-2029. Flavored whiskey is known as whiskey-based liqueurs, comes in various flavors for consumers who have a preference for a smoother and unique accent in their drink. Flavored whisky is highly in demand due to its capacity to remove “off flavours” from the final product and provide the user with a soothing taste. The Flavored Whiskey market is expanding because of factors such as growing alcohol consumption and increasing younger population.

Whiskey that has been flavor-infused often combines traditional malt constituents with one or more extra tastes. Its prevalence has progressively increased during the last few decades. According to Statista, in 2021, the global market size of alcoholic beverages amounted to USD 1.45 trillion. However, the Statista Consumer Market Outlook estimates that by 2025 the global market size of alcoholic beverages will increase to over USD 1.98 trillion. Furthermore, in 2022, the sales volume of whiskey in the United States amounted to 78 million per 9-liter cases. Another important component driving space is increase in the younger population. Ready to drink alcoholic beverages are the most popular option for young customers due to its convenience, low alcohol content, and lower price compared to cocktails provided at bars. As per Statista, in 2022 Around 25% of the world’s population is under the age of 15, and 10% is over the age of 65. Africa has the world’s youngest population. On the continent, 40% of the population is under the age of 15, and less than 4% is over the age of 65, indicating low life expectancy in several countries. In addition, in 2021, approximately 21.56 million young people between the ages of 15 to 19 years old lived in the United States. This was a slight increase from the previous year when 21.53 million young people aged 15 to 19 living in the United States. However, the high cost of Flavored Whiskey stifles market growth throughout the forecast period of 2022-2029.

The key regions considered for the Global Flavored Whiskey Market study include Asia Pacific, North America, Europe, Latin America, and Rest of the World. Europe dominated the market in terms of revenue, owing to the large consumer base for flavored spirits in the region. According to Statista, in 2021 the leading market for the export of Scotch whisky by volume in Europe is France with 176 million 70 centiliter bottles exported, followed by Spain with 48 million bottles. Asia Pacific is expected to grow with the highest CAGR during the forecast period, owing to factors such as increased demand for accessible, high-quality drinks as a result of the growing influence of western cultures in the market space.

Major market players included in this report are:
Diageo plc
Bacardi Limited
Suntory Beverage & Food Limited
The Brown–Forman Corporation
Asahi Group Holdings Ltd.
William Grant & Sons Holdings Ltd
The Edrington Group
Allied Blenders and Distillers Pvt Ltd
Constellation Brands
La Martiniquaise

Recent Developments in the Market:
Ø In October 2022, the single malt whisky of the Edrington Group the Macallan’s Harmony Collection includes two coffee-inspired releases. The new “intensely flavoured” single malt whiskies, created to pair with coffee, draw their inspiration from the Ethiopian Arabica coffee bean, which is primarily for global travel retail and has a 40% ABV.

Global Flavored Whiskey Market Report Scope:
Historical Data 2019-2020-2021
Base Year for Estimation 2021
Forecast period 2022-2029
Report Coverage Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered Application, Type, Region
Regional Scope North America; Europe; Asia Pacific; Latin America; Rest of the World
Customization Scope Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Type
Honey Flavored Whiskey
Caramel Flavored Whiskey
Fruit Flavored Whiskey

By Application
Restaurants and
Catering services

By Region:
North America
Asia Pacific
South Korea
Latin America
Rest of the World

Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2019-2029 (USD Billion)
1.2.1. Flavored Whiskey Market, by Region, 2019-2029 (USD Billion)
1.2.2. Flavored Whiskey Market, by Type, 2019-2029 (USD Billion)
1.2.3. Flavored Whiskey Market, by Application, 2019-2029 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Flavored Whiskey Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Scope of the Study
2.2.2. Industry Evolution
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Flavored Whiskey Market Dynamics
3.1. Flavored Whiskey Market Impact Analysis (2019-2029)
3.1.1. Market Drivers Growing alcohol consumption Increasing younger population
3.1.2. Market Challenges High Cost of Flavored Whiskey
3.1.3. Market Opportunities Increasing demand for vodka and whiskey-based beverages
Chapter 4. Global Flavored Whiskey Market Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.2. Futuristic Approach to Porter’s 5 Force Model (2019-2029)
4.3. PEST Analysis
4.3.1. Political
4.3.2. Economical
4.3.3. Social
4.3.4. Technological
4.4. Top investment opportunity
4.5. Top winning strategies
4.6. Industry Experts Prospective
4.7. Analyst Recommendation & Conclusion
Chapter 5. Risk Assessment: COVID-19 Impact
5.1. Assessment of the overall impact of COVID-19 on the industry
5.2. Pre COVID-19 and post COVID-19 Market scenario
Chapter 6. Global Flavored Whiskey Market, by Type
6.1. Market Snapshot
6.2. Global Flavored Whiskey Market by Type, Performance – Potential Analysis
6.3. Global Flavored Whiskey Market Estimates & Forecasts by Type 2019-2029 (USD Billion)
6.4. Flavored Whiskey Market, Sub Segment Analysis
6.4.1. Honey Flavoured Whiskey
6.4.2. Caramel Flavoured Whiskey
6.4.3. Fruit Flavoured Whiskey
6.4.4. Others

Chapter 7. Global Flavored Whiskey Market, by Application
7.1. Market Snapshot
7.2. Global Flavored Whiskey Market by Application, Performance – Potential Analysis
7.3. Global Flavored Whiskey Market Estimates & Forecasts by Application 2019-2029 (USD Billion)
7.4. Flavored Whiskey Market, Sub Segment Analysis
7.4.1. Retail
7.4.2. Hotel
7.4.3. Restaurants
7.4.4. Catering services

Chapter 8. Global Flavored Whiskey Market, Regional Analysis
8.1. Flavored Whiskey Market, Regional Market Snapshot
8.2. North America Flavored Whiskey Market
8.2.1. U.S. Flavored Whiskey Market Type breakdown estimates & forecasts, 2019-2029 Application breakdown estimates & forecasts, 2019-2029
8.2.2. Canada Flavored Whiskey Market
8.3. Europe Flavored Whiskey Market Snapshot
8.3.1. U.K. Flavored Whiskey Market
8.3.2. Germany Flavored Whiskey Market
8.3.3. France Flavored Whiskey Market
8.3.4. Spain Flavored Whiskey Market
8.3.5. Italy Flavored Whiskey Market
8.3.6. Rest of Europe Flavored Whiskey Market
8.4. Asia-Pacific Flavored Whiskey Market Snapshot
8.4.1. China Flavored Whiskey Market
8.4.2. India Flavored Whiskey Market
8.4.3. Japan Flavored Whiskey Market
8.4.4. Australia Flavored Whiskey Market
8.4.5. South Korea Flavored Whiskey Market
8.4.6. Rest of Asia Pacific Flavored Whiskey Market
8.5. Latin America Flavored Whiskey Market Snapshot
8.5.1. Brazil Flavored Whiskey Market
8.5.2. Mexico Flavored Whiskey Market
8.5.3. Rest of Latin America Flavored Whiskey Market
8.6. Rest of The World Flavored Whiskey Market

Chapter 9. Competitive Intelligence
9.1. Top Market Strategies
9.2. Company Profiles
9.2.1. Diageo plc Key Information Overview Financial (Subject to Data Availability) Product Summary Recent Developments
9.2.2. Bacardi Limited
9.2.3. Suntory Beverage & Food Limited
9.2.4. The Brown–Forman Corporation
9.2.5. Asahi Group Holdings Ltd.
9.2.6. William Grant & Sons Holdings Ltd
9.2.7. The Edrington Group
9.2.8. Allied Blenders and Distillers Pvt Ltd
9.2.9. Constellation Brands
9.2.10. La Martiniquais
Chapter 10. Research Process
10.1. Research Process
10.1.1. Data Mining
10.1.2. Analysis
10.1.3. Market Estimation
10.1.4. Validation
10.1.5. Publishing
10.2. Research Attributes
10.3. Research Assumption

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Data Collection:
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Our team of experts carefully examine the gathered data using suitable statistical techniques and qualitative analysis methods. For quantitative analysis, we employ descriptive statistics, regression analysis, and other advanced statistical methods, depending on the characteristics of the data. This analysis may also incorporate the utilization of AI tools and big data analysis techniques to extract meaningful insights.
To ensure the accuracy and reliability of our findings, we extensively leverage data science techniques, which help us minimize discrepancies and uncertainties in our analysis. We employ Data Science to clean and preprocess the data, ensuring its quality and reliability. This involves handling missing data, removing outliers, standardizing variables, and transforming data into suitable formats for analysis. The application of data science techniques enhances our accuracy, efficiency, and depth of analysis, enabling us to stay competitive in dynamic market environments.
Market Size Estimation:
Our proprietary data tools play a crucial role in deriving our market estimates and forecasts. Each study involves the creation of a unique and customized model. The model incorporates the gathered information on market dynamics, technology landscape, application development, and pricing trends. AI techniques, such as machine learning and deep learning, aid us to analyze patterns within the data to identify correlations, trends, and relationships. By recognizing patterns in consumer behavior, purchasing habits, or market dynamics, our AI algorithms aid us in more precise estimations of market size. These factors are simultaneously analyzed within the model, allowing for a comprehensive assessment. To quantify their impact over the forecast period, correlation, regression, and time series analysis are employed.
To estimate and validate the market size, we employ both top-down and bottom-up approaches. The preference is given to a bottom-up approach, where key regional markets are analyzed as separate entities. This data is then integrated to obtain global estimates. This approach is crucial as it provides a deep understanding of the industry and helps minimize errors.
In our forecasting process, we consider various parameters such as economic tools, technological analysis, industry experience, and domain expertise. By taking all these factors into account, we strive to produce accurate and reliable market forecasts. When forecasting, we take into consideration several parameters, which include:
Market driving trends and favorable economic conditions
Restraints and challenges that are expected to be encountered during the forecast period.
Anticipated opportunities for growth and development
Technological advancements and projected developments in the market
Consumer spending trends and dynamics
Shifts in consumer preferences and behaviors.
The current state of raw materials and trends in supply versus pricing
Regulatory landscape and expected changes or developments.
The existing capacity in the market and any expected additions or expansions up to the end of the forecast period.
To assess the market impact of these parameters, we assign weights to each one and utilize weighted average analysis. This process allows us to quantify their influence on the market and derive an expected growth rate for the forecasted period. By considering these various factors and applying a weighted analysis approach, we strive to provide accurate and reliable market forecasts.
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