Analyst predicts global Scotch to grow 5%

The global Scotch whisky industry is set to return to steady growth, accruing a CAGR rate of “around 5%” from 2015-2019, according to a Canadian analyst.

Scotch is set for an emphatic return to growth, according to one analyst firm

In Global Scotch Whiskey Market 2015-2019, Toronto-based Technavio reckons rising disposable incomes around the globe and growing demand for premium liquid will fuel the increase.

‘Organic’ label claims were also identified as a driver of the global Scotch market.

The projected growth in Scotch compares to a Technavio prediction that the global alcoholic drinks market will “grow moderately” at 1% over the forecast period.

Looking forward, the analyst expects Turkey to grow in prominence, bolstering demand for Scotch in Europe over the coming five years.

Cheeringly for many, the report also predicts a reduction in product prices due to the increased competition among vendors.

The glowing growth predictions echo those of Scotch Whisky Association chief executive David Frost, who expects the Scotch whisky export market to return to growth in 2016 following three years of value contractions.