Whisky to spear global spirits growthBy Annie Hayes
Global whisky volumes are slated to gain 55.2 million nine-litre cases over the next five years, bringing total international spirits volumes to 3.19 billion cases by 2021, according to a new report from the IWSR.
IWSR 2017-2021 Forecast data predicts that “other” whiskies – predominantly Indian – will be the largest contributor to the category, growing by 28.2m cases.
Scotch whisky is forecast to add 10.5m cases to total whisky growth in the period – driven by the category’s success in India, which will continue to be “one of the largest growth segments”.
The US – the second largest growth market for whisky behind India – is expected to see the “strongest gains” for American and Irish whiskey. American whiskey is expected to contribute a total of 8.9m cases to global whisky volumes.
Global spirits category growth
Baijiu is expected to add a further 48.2m cases between 2016 and 2021, the data revealed, thanks to a growing economy in China and increased demand for business banquets.
The gin category, meanwhile, is slated to gain 7.1m cases globally, with its domestic UK market forecast to gain an additional 1.4m cases by 2021 and “similar growth” expected across Spain and the US.
Tequila is set to make its largest gains in the US, the IWSR stated, with additional growth in Mexico. The category can expect to add 5.8m nine-litre cases in total by 2021.
Despite being a leading growth market for many categories, the total US alcohol market is forecast to decline by 37m cases over the next five years, offset by a poor performance from beer, cider and mixed drinks.