Annual Whisky Market Report 2021

Annual Whisky Market Report 2021

2021 has been a year of recovery for the whisky industry, and an opportunity to prepare for strong anticipated future growth. In our 2021 Annual Report our whisky experts weigh in on the performance of the global whisky market over the past 12 months as well as outlining what investors can expect in 2022 and beyond.

Whisky Revenues To Hit $108 Billion by 2031

The dominant theme of 2021 has been recovery as the whisky market gradually returns to pre-pandemic trading conditions. The Scottish Whisky Association (SWA) reported that H1 2021 export figures by value were 30% higher than those for H1 2020 and 41% higher by volume. Although the SWA noted that the industry “still has some way to go” to reach full recovery, the elimination of 25% US tariffs on Scotch imports, supplier adjustments to post-Brexit trading and the receding impact of COVID-19 have all helped boost growth across 2021.

Taking a longer term view, the whisky industry still represents an excellent investment opportunity with the Knight Frank Luxury Investment Index reporting 483% price growth in the decade ending in 2021. A recent study by Technavio anticipates the global whisky market will grow by $28.67 billion from 2021 to 2025 with a CAGR of 5.64%. Another report from Fact MR indicates that whisky revenues could grow from $60 billion in 2021 to $108 billion by 2031.

Asia-Pacific To Dominate Growth

The highest growth is expected to come from the Asia-Pacific region, and in particular India and Thailand, with an overall growth rate of 51%.

Asia has also played a key role in helping the industry weather the storms of COVID-19 and Brexit, with exports to China growing 126% from £91 million across 2019 to £89 million just in H1 2021 alone. South Korea is consolidating its position as another key Asian market with whisky growing 16% by value and 22% by volume between 2016 and 2020 according to Fact MR.

We know that access to quality market analysis is critical. That’s why we put together an in-depth quarterly report exclusively for our investors and subscribers.

To continue reading our 2021 report on the whisky market, simply click the button below.

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