The Japanese Whisky Market research report provides complete insights on industry scope, trends, regional estimates, key application, competitive landscape and financial performance of prominent players. It also offers ready data-driven answers to several industry-level questions. This study enables numerous opportunities for the market players to invest in research and development.
Market Overview:
The global Japanese whisky market is estimated to reach USD 1.1 billion, by 2025, and is projected to grow at a CAGR of 9.4% from 2019 to 2025, according to a new report by Million Insights. Growing consumer inclination towards imported spirits and rising awareness about aged whisky is propelling the demand for the product in the alcohol market. Growing trend of cocktails among the consumers is driving the demand for Japanese whisky. Moreover, increasing penetration of digital media is helping to create awareness through blogs and posts.
Key Players:
- Suntory Holdings Ltd.
- Nikka Whisky Distilling Co., Ltd.
- Chichibu Distillery
- Venture Whisky, Ltd.
- Flaviar
- Louisville Distelling Co. LLC
- Asahi Breweries Ltd.
- Jf Hillebrand Japan Kk
- Hombo Shuzo Co Ltd.
- Yoshino Spirits
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Growth Drivers:
Furthermore, high consumption of imported liquors and whisky in pubs and bars is expected to boost the growth of Japanese whisky market. In addition, growing popularity of home bars with mixture experiments is increasing the demand for Japanese whisky. Due to this, the residential segment is projected to grow at the CAGR exceeding 9.0% during the forecasted period.
The growing interest among consumers for experimenting mixology and cocktail culture is expected to boost market growth. In addition, the availability of various variants of different whiskies especially in India, and Japan is gaining traction among consumers for these spirits. Moreover, growing awareness regarding alcoholic drinks is complementing Japanese whisky in the global market.
Furthermore, growing number of pubs, bars, and clubs is promoting the consumption of imported liquors like Japanese whisky across the world. Additionally, various hotels, restaurants, breweries are attracting consumers by several offers such as Happy Hours, which in turn is fostering the product demand.
Application Outlook:
- Residential
- Commercial
Distribution Channel Outlook:
- On-Trade
- Off-Trade
On the basis of distribution channel, the market for Japanese whiskey is bifurcated into on-trade and off-trade channels. In 2018, the on-trade dominated the market with a revenue of USD 399.5 million in the overall market. Consumers are willing to pay more on alcohol and cocktails and premium spirit products. The lifestyle changes along with rising income levels especially in countries like Germany, U.K., China, and U.S. is fostering market growth. Furthermore, growing trend of offers such as happy hours by the hotels, breweries, and pubs is attracting more consumers. Additionally, drink celebrations in parties, festivals, promotions and culture events are propelling the product demand.
The off-trade channel is projected to grow at the CAGR of around 9.0% over the forecast period. Furthermore, increasing trend of drinking at home as part of celebrations and events across the world is boosting the demand for premium whiskies. Availability of various brand of imported alcohol across online and retail shops is contributing to product demand from the residential sector.
Regional Outlook:
In 2018, Asia Pacific held the largest market share of 66.7% in the overall market. Growing income levels along with rapid urbanization especially in the countries such as India, Thailand, and China is expected to propel the product demand in alcohol market.
Europe and North America have constituted market share of more than 25.0%, in2018. These regions are expected to grow significantly in the next few years. According to WHO, European Union countries have largest alcohol consumption per capita across the globe.
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