GROWING disposable income and Western culture are boosting whiskey market size

The global whiskey market size is estimated to grow by USD 34,078.61 million from 2022 to 2027, according to Technavio.

The market is estimated to grow at a CAGR of 6.02% during the forecast period. APAC will be contributing 50% to the market growth.

Factors such as the increasing disposable income of people, the growing popularity of Western culture, and the introduction of new flavors of whiskey are driving the growth of the whiskey market in APAC.

Moreover, the consumption of alcoholic beverages grows significantly in low- and middle-income countries, while the total volume of alcoholic beverage consumption is stable in high-income countries. Hence, such factors boost the regional market growth during the forecast period.

The growth of the whiskey market is mostly driven by the rising demand for premium whiskey.

The demand for premium whiskey is rising due to the large increase in per capita income worldwide. The worldwide whiskey industry is anticipated to rise due to the rising demand for premium whiskey and artisan whiskey.

Due to the rising demand, retailers now provide high-end whiskey types. Because of their authenticity, flavor, and brand, premium whiskey kinds are frequently favored.

As a result, it is expected that the rising demand for premium whiskeys will propel the expansion of the global whiskey market.

The alcohol beverages market size in US is expected to increase by USD 52.82 billion from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 2.95%.

Furthermore, this report extensively covers the alcohol beverages market in US segmentation by distribution channel (off-trade and on-trade) and product (beer, wine, spirits, RTD, and others).

The increased demand for craft drinks is notably driving the alcoholic beverages market growth in the US.

The ginger beer market size is expected to increase to USD 4.08 billion from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 7.68%.

Furthermore, this report extensively covers ginger beer market segmentation by distribution channel (off-trade and on-trade) and geography (North America, Europe, APAC, South America, and Middle East and Africa).

The growing demand for low-alcoholic flavored beverages among consumers is notably driving the ginger beer market growth.