Asia Pacific Whiskey Market

Asia Pacific Whiskey Market Growth and Forecast (2023 - 2028):

The Asia Pacific Whiskey Market was worth USD 1.84 billion in 2022 and estimated to be growing at a CAGR of 5.25%, to reach USD 2.4 billion by 2028. The market is showcasing evident potential in the mentioned forecasting period. The market continues to gain momentum with the rapid development in the industry.

Market Overview:

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 colours. 

Drivers and Restraints:

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. 

Asia Pacific Whiskey Market Segmentation Analysis:

The Asia Pacific Whiskey Market is segmented on the basis of Product into Malt Whisky, Wheat Whisky, Rye Whisky, Corn Whisky, Blended Whisky, and Others. Based in Premium, the market is segmented into Premium, High End Premium, and Super Premium.

Region Analysis:

On the basis of geography, the Asia Pacific market is analysed under various regions namely China, India, Japan and South Korea. The Asia Pacific region hosts the second largest Whiskey Market globally and is expected to show the highest CAGR during the forecast period.

Key Players in the Market:

Major key players in the Asia Pacific Whiskey Market are

Some of the major companies dominating the market, by their products are Accolade Wines, Allied Blenders & Distillers, Asahi Breweries, Bacardi Ltd., Beam Suntory, Diageo, John Distilleries, Pernod Ricard, and Smirnoff.