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- Number of pages : 30 pages
- Format : Digital and PDF versions
- Last update : 01/12/2022
Summary and extracts
1 Market Overview
1.1 Definition and presentation
The whiskey market is a sub-segment of the spirits (beverages produced from distilled alcohol) market. Spirits are separated into two categories:
-"Simple" spirits, which include whiskey, but also vodka, gin and rum, whose taste is related to the distillation of the raw material.
-"Compound" spirits, such as aniseed aperitifs, or liqueurs whose taste is linked to the addition of aromatic substances to a neutral alcohol or brandy.
Whiskey is obtained by a manufacturing process that requires several skills: malting of grains, fermentation, distillation, and aging.
Globally, the whiskey market is considered to be growing. It was valued at $59 billion in 2019 and is projected to grow at a CAGR of 4.9 percent annually through 2027.
The trends driving this growth are the increase in people's purchasing power and the increasing number of young people who can drink legally.
Europe is the leading whiskey exporter in the world, but the United States is also increasing its exports.
Even in Italy this market is estimated to be growing, the turnover has greatly increased in recent years and with it also the number of enthusiasts to this sector even if the amount of whiskey consumed by Italians still remains rather low standing at 0.2 liters compared to 2 liters consumed by the French.
In any case, we can speak of a real whisky revolution that began in 2010 and has not yet stopped. The growing popularity of whisky also stems from the numerous festivals centered on this drink that are organized every year in different Italian cities such as Rome, Milan and Florence.
The best-selling whiskey brands in Italy are:Lagavulin,Ardbeg,Talisker,CAol Ila,Glenfiddich.
From the above information it can be seen that the whiskey market is growing steadily over the past few years but is still considered a niche market that can be difficult to penetrate and full of challenges.
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Latest news
How India is becoming Pernod Ricard's whisky paradise - 22/01/2024
- Pernod Ricard aims to accelerate its presence in India.
- The French giant, which occupies a leading position in the sub-continent
- Strong growth in the Indian whisky market.
- In the entry-level whisky segment, the group owns Royal Stag and Imperial Blue - two brands produced in India that rank among the top 5 best-selling whiskies in the country. It also owns several high-end brands: Chiva's Regal, Ballantine's and Glenlivet - imported whiskies that carry a 150% surtax.
- India accounts for 10% of the Group's total sales, or around 1.2 billion euros.
- A major market for the Group behind the United States.
- Consumption of imported whiskies and high-end Indian single malts is booming.
- Scotch imports are set to double between 2020 and 2022,
- India is the leading export market for Scottish brands.
- Sales of Indian single malt rose by 144% between 2021 and 2022.
- Local brands owned by the French giant account for 85% of sales by value. Imports of foreign brands account for the remaining 15%.
- Pernod Ricard has 27 factories across the country.
The trials and tribulations of Pernod Ricard to create the first whisky "made in China" - 17/12/2023
- Pernod Ricard inaugurates the country's first whisky distillery
- Pernod Ricard plans to invest 150 million euros over ten years in this project.
- Market launch of the first bottles of The Chuan, the first pure malt made in China.
- Bottles are priced between 115 and 190 euros, depending on the degree of alcohol (40, 46 or 60 degrees) and the type of aging.
- Pernod Ricard's Chinese subsidiary accounts for 10% of group sales
- Pernod Ricard is the world's second-largest spirits company, and already owns some 50 whiskies (including Chivas, Ballantine's, The Glenlivet, Aberlour, Royal Salute, Jameson and Jefferson's),
- The Chinese spirits market remains 97% dominated by Baijiu (sorghum-based alcohol).
- Western spirits share the remaining 3%, starting with cognac (a market worth 3.2 billion euros, according to specialist consultancy IWSR) and whisky (1.2 billion euros).
- The Emeishan distillery is located on the Mount Emei road, used by millions of Chinese tourists throughout the year. Pernod Ricard expects two million visitors within the next ten years.
The Chuan, Pernod Ricard's first Chinese whisky | Pernod Ricard and Chuan Whisky - 13/12/2023
- The Pernod Ricard group has launched the first bottles of pure malt produced at The Chuan distillery in China.
- The bottles are priced at 100 euros each.
- Pernod Ricard has invested 150 million euros over ten years to finance China's first foreign whisky distillery.
- The distillery has a capacity of 1 to 1.5 million pure spirits.
- China remains a massive consumer of Baiju, the national spirit, with a share of foreign alcohol consumption of less than 2%.
- Pernod Ricard holds leading positions in China for the two most widely consumed imported spirits, cognac with Martell and whisky with Chivas.
Cognac: Rémy Cointreau a victim of the difficult spirits market - 27/10/2023
- Rémy Cointreau U.S. sales down 26.6% in first half
- The group forecasts a drop in annual sales of between 15% and 20%.
MBWS takes over distribution of Sazerac's premium spirits brands - 12/10/2023
- Sazerac acquired Paddy Irish whisky from Pernod Ricard in 2016.
- Sazerac and MBWS (Marie Brizard Wines and Spirits) embark on a strategic partnership concerning MBWS' exclusive distribution of Sazerac's portfolio of premium brands in France.
- The Sazerac portfolio includes bourbon brands Buffalo Trace, Eagle Rare, W. L. Weller, Sazerac Rye, 1792, E.H. Taylor Jr, George T Stagg and Pappy Van Winkle, as well as cognac brand Sazerac de Forge, rum brand Jung and Wulff and Peychaud's cocktail bitters.
- MBWS's portfolio already includes brands such as Paddy, Fireball and Southern Comfort.
- This partnership will enable MBWS to expand its presence in fast-growing segments such as bourbon, rum and mixology.
- MBWS has extensive territorial coverage and specialized teams covering all distribution channels.
Whisky has become Pernod Ricard's new hobbyhorse - 01/09/2023
- Whisky represents 45% of Pernod Ricard's sales.
- Pernod Ricard owns a portfolio of 50 whisky brands.
- The world's leading spirit, whisky represents 38% of total industry sales and 32% of volumes.
- Whisky accounted for a third of the growth recorded by Pernod Ricard in the 2022-2023 financial year.
- Pernod Ricard has invested 150 million euros in the construction of China's first whisky distillery, with a production capacity of 1 to 1.5 million liters of pure alcohol.
- The production capacity of Pernod Ricard's Irish brand Jameson has been doubled to 9 million cases by 2020, with an investment to reach 20 million cases through the construction of a new distillery at a cost of 250 million euros.
- Pernod Ricard has also invested 250 million euros to build a new distillery in Kentucky.
- In India, the Group produced a total of 45 million cases.
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