The size of the Asia Pacific whiskey market is expected to be worth USD 14.93 billion in 2024 and grow at a CAGR of 8.33% from 2024 to 2029 to achieve USD 22.27 billion by 2029. The market is showcasing evident potential in the mentioned forecasting period. The market continues to gain momentum with the rapid development in the industry.
Whiskey comes under the category of affordable luxury items, resulting in many whiskey producing companies to launch more premium and super premium whiskies in the market. As an innovation, the brewing sector is launching an organic whiskey which does not have any artificial colors. The Asia Pacific whiskey market is majorly driven by the recent change in lifestyles, increasing habit of consuming liquor, growing disposable income, and rising affordability of whiskey. However, some of the restraints hamper the growth of the industry, like heavy taxes, strict regulations by the governments, and health hazards associated with whiskey consumption.
The Asia Pacific region hosts the second largest Whiskey Market globally and is expected to show the highest CAGR during the forecast period.
Major key players in the Asia Pacific Whiskey Market are Accolade Wines, Allied Blenders & Distillers, Asahi Breweries, Bacardi Ltd., Beam Suntory, Diageo, John Distilleries, Pernod Ricard, and Smirnoff
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