the whisky market | Italy

1.1 Definition and scope of study

The whisky market is a sub-segment of the spirits market (drinks produced from distilled alcohol). Spirits are separated into two categories:

·      "Simple" spirits, which include whisky, but also vodka, gin and rum, whose taste is linked to the distillation of the raw material.

·      Compound spirits, such as aniseed-flavoured aperitifs, or liqueurs whose taste is linked to the addition of aromatic substances to a neutral alcohol or brandy.

Whisky is obtained by a manufacturing process that requires several skills: malting of the grain, fermentation, distillation and ageing.

Globally, the whisky 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% per annum until 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 world's leading whisky exporter but the United States is also increasing its exports.  

In Italy, too, this market is estimated to be growing, the turnover has increased a lot in recent years along with it the number of whisky enthusiasts, even if the quantity of whisky consumed by Italians is still rather low at 0.2 litres compared to the 2 litres 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 centred on this drink that are organised every year in various Italian cities such as Rome, Milan and Florence. 

The best-selling whisky brands in Italy are: Lagavulin, Ardbeg, Talisker, CAol Ila, Glenfiddich.

From the above information it can be seen that the whisky market has been growing steadily over the last few years, but it is still considered a niche market that can be difficult to penetrate and is full of challenges.