Irish Whiskey Market (Type - Single-Malt Irish Whiskey, Single-pot Irish Whiskey, and Single-grain Irish Whiskey; Pricing-mass, and Premium; Sales Channel - On-trade, and Off-trade): Global Industry Analysis, Trends, Size, Share and Forecasts to 2028

A recent report published by Infinium Global Research on the irish whiskey market provides an in-depth analysis of segments and sub-segments in the global as well as regional irish whiskey market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional irish whiskey market over the short term as well as long term. The report is a comprehensive presentation of trends, forecasts, and dollar values of the global irish whiskey market. 

Market Insight

The global irish whiskey market was valued at about USD 4.5 Billion in 2022 and is expected to reach nearly USD 7 Billion in 2028, with a CAGR of over 7% during the forecast period. Irish whiskey is a black distilled spirit that is triple distilled from a mash of malted cereal grains like corn, wheat, and barley that has undergone yeast fermentation. For a light, grainy, and smooth flavor, it is typically aged for at least three years. It contains antioxidants, ellagic acid, zinc, iron, phosphorus, thiamine (vitamin B1), niacin (vitamin B3), and nutrients that lower the risk of obesity, hypertension, tuberculosis, and pneumonia. Due to its unique flavor profile, it is typically served with other foods or drinks, such as expensive martinis and basic soda highballs. 

One of the main drivers of market expansion is the rising intake of alcohol due to its stimulating and sedative effects, which can change a person's mood, behavior, and cognitive functioning. This is also related to the growing need for anxiety and stress relief as a result of people's busy schedules and long workdays. The industry is expanding due to the growing tendency of socializing and midweek parties at business events. Furthermore, the industry is expanding as a result of the rising demand for premium cocktails brought on by quick urbanization, improved lifestyles, and rising disposable income. In addition, major manufacturers are using e-commerce to launch Irish whiskey in new, unusual flavors. In order to increase their current customer base, they are also investing in distinctive product packaging, which is encouraging the market. However, the availability of substitutes such as Scottish and American Whisky brands is restraining the growth. Innovation of new products is estimated to create opportunities in the market. 

Geographically, North America has been the largest market in terms of revenue generation during the past decade. The United States is additionally anticipated to increase at a remarkable rate, demonstrating the largest share during the forecast period. However, the market's Asia-Pacific and LAMEA regions are anticipated to have significant expansion over the course of the projected period. The vast population and expanding use of alcohol overall can be attributed to the market expansion in these areas. 

Segment Covered

The report on the global irish whiskey market covers segments such as type, pricing, and sales channel. On the basis of type, the sub-markets include single-malt irish whiskey, single-pot irish whiskey, and single-grain irish whiskey. On the basis of pricing, the sub-markets include mass, and premium. On the basis of sales channel, the sub-markets include on-trade, and off-trade. 

Companies Profiled:

The report provides profiles of the companies in the market such as Beam Suntory Inc. (Suntory Holdings Limited), Boann Distillery, Brown-Forman Corporation, Connacht Whiskey Company Limited, Diageo plc, Edrington, Pernod Ricard, Sazerac Company Inc., Teeling Whiskey Distillery, and West Cork Distillers. 

Report Highlights:

The report provides deep insights into demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of irish whiskey market. Moreover, the study highlights current market trends and provides forecasts from 2022-2028. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings insight into the market share of the leading players.