The Scotch whisky industry is set to grow by about approximately five per cent per year between now and the end of 2019, according to economic forecasters. Strengthening demand for premium drinks within the category, as well as a rapidly burgeoning Turkish market, is expected to sustain this growth, TheDrinksBusiness.com reports.
Technavio, the global market research company, published the projections in its study Global Scotch Whiskey Market 2015-2019.
“Technavio’s market research analyst predicts the global scotch whiskey market to witness a steady growth at a CAGR of around 5% during the forecast period,” the report reads.
“The rise in disposable income and the growing demand for premium whiskey has been fueling the growth of this market. Around 88 per cent of consumers globally, consider whisky as an affordable luxury, which is driving manufacturers to launch more premium and super-premium offerings to meet the demand.”
“Blend scotch accounted for nearly 79 per cent of the market shares during 2014,” it goes on to say. “This market research report predicts this segment to continue its dominance during the forecast period owing to the high demand from consumers. Some of the popular brands in this segment are Bells, Dewar's, Johnnie Walker, Whyte and Mackay, Cutty Sark, J&B, The Famous Grouse, Ballantine's, and Chivas Regal.”
© 2016 European Supermarket Magazine – your source for the latest retail news. Article by Peter Donnelly. To subscribe to ESM: The European Supermarket Magazine, click here.
