The global Japanese whisky market size is expected to reach USD 1.1 billion by 2025, according to a new report by Grand View Research, Inc., registering a 9.4% CAGR over the forecast period. Factors such as increasing awareness regarding aged whisky and a growing taste for unique and imported spirits are driving the demand for Japanese whisky in the global alcohol market.
Using Japanese whiskey as a component in numerous cocktails is a popular trend among consumers, driven by a growing interest in cocktail concoctions and experimental mixology. Social media has also played a major role in spreading awareness and increasing the popularity of Japanese whisky through posts and blogs. The growing presence of bars and pubs across the globe has also promoted the consumption of unique and imported liquors, such as Japanese whisky. The rising popularity of home bars and interest in mixology is also driving the consumption of Japanese whiskey in the residential sector. This segment is likely to register a CAGR of 9.2% over the forecast period, while the commercial application of Japanese whisky is expected to exhibit a 9.4% CAGR.
On-trade distribution channels held the largest revenue share in 2018 owing to the rising per capita income of consumers, adoption of luxury lifestyles, and consumption of premium spirits in countries including the U.S., the U.K., Germany, India, and China. The rising trend of Happy Hours offered by various commercial restaurants, pubs, hotels, and breweries serving alcohol is boosting the footfall of consumers in such retail sectors.
Asia Pacific led the global market in 2018 with a share of 66.7%. This can be attributed to the presence of the largest production facility in Japan and high product penetration in the region. Population growth, urbanization, and rising disposable income in countries such as China, India, and Thailand are anticipated to play an important role in driving the overall alcohol market, having a positive impact on the consumption of Japanese whiskey in the coming years.
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Japanese Whisky Market Report Highlights
• In terms of revenue, the residential application segment is projected to expand at a CAGR of 9.2% over the forecast years. The segment also held the dominant share in the Japanese whiskey market in 2018
• On-trade distribution channels held the largest revenue share in 2018 owing to the rising per capita income of consumers, adoption of luxury lifestyle, and consumption of premium spirits
• Asia Pacific led the global market in 2018 with a share of 66.7%. This can be attributed to the presence of the largest production facility in Japan and high product penetration in the region
• The industry is highly competitive in nature with key players including Suntory Holdings Ltd., Nikka Whisky Distilling Co., Ltd., Chichibu Distillery, Venture Whisky, Ltd., FLAVIAR, Louisville Distilling Co. LLC, Asahi Breweries Ltd., Jf Hillebrand Japan Kk, Hombo Shuzo Co Ltd, and Yoshino Spirits.
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Japanese Whisky Market Segmentation
Grand View Research has segmented the global Japanese whisky market on the basis of application, distribution channel, and region:
Japanese Whisky Application Outlook (Revenue, USD Million, 2015 – 2025)
• Residential • Commercial
Japanese Whisky Distribution Channel Outlook (Revenue, USD Million, 2015 – 2025)
• On-Trade • Off-Trade
Japanese Whisky Regional Outlook (Revenue, USD Million, 2015 – 2025)
• North America • U.S. • Europe • France • U.K. • Asia Pacific • China • Japan • Central & South America • Middle East & Africa
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About Grand View Research
Grand View Research is a market research and consulting company registered in the State of California having its headquarters in San Francisco. The company offers syndicated research reports, customized research reports, and consulting services. With Grand View Research, you get an opportunity to understand market trends, insights, and business statistics from a strategic standpoint. With a deep-seated understanding of many business environments, Grand View Research offers business and market intelligence studies and accomplishes more than 300 multi-country market studies.
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