Whiskey Warehousing Global Market Report 2023
Major players in the whiskey warehousing market are Diageo Plc, William Grant & Sons Ltd, Brown–Forman Corporation, Allied Blenders and Distillers (ABD) Ltd., Bacardi Limited, Constellation Brands, Inc.
New York, June 01, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Whiskey Warehousing Global Market Report 2023" - https://www.reportlinker.com/p06464198/?utm_source=GNW
, Pernod Ricard, Angus Dundee Distillers PLC, King Car Group, La Martiniquaise, The Edrington Group Ltd., Chivas Brothers, Whyte & Mackay Ltd, Sazerac Co. Inc., and Suntory Holdings Limited.
The global whiskey warehousing market is expected to grow from $7.45 billion in 2022 to $8.18 billion in 2023 at a compound annual growth rate (CAGR) of 9.8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The whiskey warehousing market is expected to reach $11.50 billion in 2027 at a CAGR of 8.9%.
The whiskey warehousing market includes revenues earned by entities by maturing whisky and storing.The market value includes the value of related goods sold by the service provider or included within the service offering.
Only goods and services traded between entities or sold to end consumers are included.
Whiskey warehousing refers to a place used by whiskey makers to store whisky barrels in a specified facility. These warehousing facility are used for maturing the distilled alcohol in oak barrels for a longer time, which allows the whisky to develop its distinct flavor and aroma.
North America was the largest region in the whiskey warehousing market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in whiskey warehousing report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main whiskey warehousing types of whiskey are scotch, bourbon, irish whiskey, Canadian whiskey, Japanese whisky, and others.Scotch is a type of whisky produced in Scotland.
It’s made from malted barley, water, and yeast and matured in oak barrels for at least three years. The various ownerships are private warehousesk public warehouses, and bonded warehouses that are channelled through on-trade and off-trade.
Growing consumption of alcoholic beverages is expected to propel the growth of the whiskey warehousing market going forward. An alcoholic beverage is any drink other than water that contains more than 1.2% alcohol by volume. The contemporary drinking culture in business events, parties, and other settings has resulted in increased use of whisky for its flavor and texture. Hence, the growing consumption of alcoholic beverages is boosting the growth of the whiskey warehousing market. For instance, in August 2021, according to a study conducted by Columbia University Mailman School of Public Health, a US-based research university, retail alcohol sales in US increased significantly at the start of the pandemic, peaking in the third quarter of 2020. Furthermore, from March to September 2020, liquor store sales were 41.9 billion dollars, reflecting a 20% and 18% rise over the same period in 2019 and the preceding seven-month period, August to February 2020, respectively. Therefore, the growing consumption of alcoholic beverages is driving the growth of the whiskey warehousing market.
Technological advancements have emerged as a key trend gaining popularity in the whiskey warehousing market.Major companies operating in whiskey warehousing market are developing innovative technologies such as advanced coating technologies, whiskey storage solutions, and others to sustain their position in the market.
For instance, in March 2023, Devil’s Cask LLC, a US-based provider of technology and innovations for the barrel-aged spirits industry, developed Aegis Coating, a patent-pending innovation that coats whisky barrels’ exteriors with a silicone-like material to minimize leaks and the angel’s share. Without substantially changing the flavor profile of the spirit that is maturing, the coating significantly reduces the amount of ethanol and water that evaporation from the cask.
In November 2022, Diageo plc, a UK-based alcoholic beverage company, acquired Balcones Distilling for an undisclosed amount.This acquisition is in line with the business’s strategy of acquiring high-growth brands in fast-growing areas, such as super-premium whisky, and the company looks forward to working with the Balcones team to help these world-class whiskies expand even further.
Balcones Distilling is a US-based producer and manufacturer of single malt whiskey, including their own warehousing services.
The countries covered in the whiskey warehousing market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The whiskey warehousing market research report is one of a series of new reports that provides whiskey warehousing market statistics, including whiskey warehousing industry global market size, regional shares, competitors with a whiskey warehousing market share, detailed whiskey warehousing market segments, market trends and opportunities, and any further data you may need to thrive in the whiskey warehousing industry. This whiskey warehousing market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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