The Whiskey Tourism Market Size is valued at USD 19.8 billion in 2023 and is predicted to reach USD 41.7 billion by the year 2031 at a 10.1% CAGR during the forecast period for 2024-2031.
Whiskey tourism entails visiting whiskey-producing areas to tour distilleries, get knowledge about the production process, and partake in tastings. Notable destinations encompass Scotland, Ireland, the United States, and Japan, where travelers engage with whiskey trails and delve into local culture and history.
The rising number of consumers viewing whiskey as a measure of wealth and their preference for high-end liquor are the main factors driving the whiskey industry. Greater financial freedom due to industrialization and the development of the upper social class has led to greater expenditure on expensive beings, which in turn is driving up the need for whiskey. In addition, the whiskey sector is significantly influenced by the booming travel and tourism sector. Travellers and frequent travellers alike seek out genuine and high-quality ethnic drinks to imbibe, which boosts sales. Drinking events, occasions, and social gatherings piqued customer interest, which is fueling the market's expansion. Expenditures also aid the expansion of the whiskey market in distinctive containers and advertising strategies.
However, the biggest element limiting the whiskey industry's growth is the prolonged maturation process. Whiskey containers require lengthy storage and upkeep, which requires breweries to commit funds and resources with no guarantee of recovery. Alcohol distilleries may also find it difficult to precisely project market demands due to shifts in consumer choices and variations in supply. Alcohol distilleries manage the risk of either excessive or underproduction of old whiskey as a consequence, which could result in diminished profits or insufficient stock. Furthermore, external elements like temperature and moisture might have an impact on the standard of the end item during ageing.
The whiskey tourism market is segmented based on experience type and whiskey type. Based on experience type, the market is segmented into distillery tours/ tasting experiences, whiskey festivals, and others. By whiskey type, the market is segmented into single malt whiskey, blended whiskey, bourbon, craft whiskey, and others.
The whisky festivals' whiskey tourism market will hold a major global market share. Whisky festivals are becoming increasingly popular, progressing from small-scale communal events to significant global audiences. Whisky festivals are expected to develop further because they provide distinctive, deep experiences that reflect the extensive culture and tradition of the liquor. This rise is indicative of the sector's ability to engage with enthusiasts throughout nations.
The single malt whisky industry is the dominating category. A fully immersive event that showcases the tradition and creativity in single malt whisky manufacturing, the tour offers travellers the chance to discover Glenfiddich's historic storage facility, understand the history of barrel development, and taste the whisky's extraordinary level of sweetness.
The North American whiskey tourism market is expected to note the highest market share in revenue in the near future. This can be attributed to the area's food and beverage sector's sharply growing need for whiskey and the increasingly evolving living in this area. Furthermore, the distillery began producing whiskey because of a deadline for permission from government regulators. Big distilleries will thus become much more prevalent in the area. In addition, Europe is likely to grow rapidly in the global whiskey tourism industry because of the area's growing nightclub and eating establishment scene as well as the population's sharply expanding average disposable income. Furthermore, it is anticipated that the expanding impact of occidental societies on this region's youth will expand the global market.
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Report Attribute |
Specifications |
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Market Size Value In 2023 |
USD 19.8 Bn |
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Revenue Forecast In 2031 |
USD 41.7 Bn |
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Growth Rate CAGR |
CAGR of 10.1% from 2024 to 2031 |
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Quantitative Units |
Representation of revenue in US$ Bn and CAGR from 2024 to 2031 |
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Historic Year |
2019 to 2023 |
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Forecast Year |
2024-2031 |
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Report Coverage |
The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
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Segments Covered |
By Experience Type, Whiskey Type |
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Regional Scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
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Country Scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; France; Italy; Spain; South East Asia; South Korea |
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Competitive Landscape |
Diageo, Pernod Ricard, William Grant & Sons Ltd, Brown-Forman Corporation, Suntory Global Spirits, Inc, Bacardi Limited, Edrington Group, Heaven Hill Brands, Chivas Brothers Ltd, and LVMH. |
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Customization Scope |
Free customization report with the procurement of the report and modifications to the regional and segment scope. Particular Geographic competitive landscape. |
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Pricing And Available Payment Methods |
Explore pricing alternatives that are customized to your particular study requirements. |
Chapter 1. Methodology and Scope
1.1. Research Methodology
1.2. Research Scope & Assumptions
Chapter 2. Executive Summary
Chapter 3. Global Whiskey Tourism Market Snapshot
Chapter 4. Global Whiskey Tourism Market Variables, Trends & Scope
4.1. Market Segmentation & Scope
4.2. Drivers
4.3. Challenges
4.4. Trends
4.5. Investment and Funding Analysis
4.6. Industry Analysis – Porter’s Five Forces Analysis
4.7. Competitive Landscape & Market Share Analysis
4.8. Impact of Covid-19 Analysis
Chapter 5. Market Segmentation 1: by Experience Type Estimates & Trend Analysis
5.1. by Experience Type & Market Share, 2019 & 2031
5.2. Market Size (Value (US$ Mn) & Forecasts and Trend Analyses, 2019 to 2031 for the following by Experience Type:
5.2.1. Distillery Tours/ Tasting Experiences
5.2.2. Whiskey Festival
5.2.3. Others
Chapter 6. Market Segmentation 2: by Whiskey Type Estimates & Trend Analysis
6.1. by Whiskey Type & Market Share, 2019 & 2031
6.2. Market Size (Value (US$ Mn) & Forecasts and Trend Analyses, 2019 to 2031 for the following by Whiskey Type:
6.2.1. Single Malt Whiskey
6.2.2. Blended Whiskey
6.2.3. Bourbon
6.2.4. Craft Whiskey
6.2.5. Others
Chapter 7. Whiskey Tourism Market Segmentation 3: Regional Estimates & Trend Analysis
7.1. North America
7.1.1. North America Whiskey Tourism Market Revenue (US$ Million) Estimates and Forecasts by Experience Type, 2024-2031
7.1.2. North America Whiskey Tourism Market Revenue (US$ Million) Estimates and Forecasts by Whiskey Type, 2024-2031
7.1.3. North America Whiskey Tourism Market Revenue (US$ Million) Estimates and Forecasts by country, 2024-2031
7.2. Europe
7.2.1. Europe Whiskey Tourism Market Revenue (US$ Million) Estimates and Forecasts by Experience Type, 2024-2031
7.2.2. Europe Whiskey Tourism Market Revenue (US$ Million) Estimates and Forecasts by Whiskey Type, 2024-2031
7.2.3. Europe Whiskey Tourism Market Revenue (US$ Million) Estimates and Forecasts by country, 2024-2031
7.3. Asia Pacific
7.3.1. Asia Pacific Whiskey Tourism Market Revenue (US$ Million) Estimates and Forecasts by Experience Type, 2024-2031
7.3.2. Asia Pacific Whiskey Tourism Market Revenue (US$ Million) Estimates and Forecasts by Whiskey Type, 2024-2031
7.3.3. Asia Pacific Whiskey Tourism Market Revenue (US$ Million) Estimates and Forecasts by country, 2024-2031
7.4. Latin America
7.4.1. Latin America Whiskey Tourism Market Revenue (US$ Million) Estimates and Forecasts by Experience Type, 2024-2031
7.4.2. Latin America Whiskey Tourism Market Revenue (US$ Million) Estimates and Forecasts by Whiskey Type, 2024-2031
7.4.3. Latin America Whiskey Tourism Market Revenue (US$ Million) Estimates and Forecasts by country, 2024-2031
7.5. Middle East & Africa
7.5.1. Middle East & Africa Whiskey Tourism Market Revenue (US$ Million) Estimates and Forecasts by Experience Type, 2024-2031
7.5.2. Middle East & Africa Whiskey Tourism Market Revenue (US$ Million) Estimates and Forecasts by Whiskey Type, 2024-2031
7.5.3. Middle East & Africa Whiskey Tourism Market Revenue (US$ Million) Estimates and Forecasts by country, 2024-2031
Chapter 8. Competitive Landscape
8.1. Major Mergers and Acquisitions/Strategic Alliances
8.2. Company Profiles
8.2.1. Bacardi Limited
8.2.2. Brown-Forman Corporation
8.2.3. Chivas Brothers Limited
8.2.4. Diageo Plc
8.2.5. Edrington Group
8.2.6. Heaven Hill Distilleries, Inc.
8.2.7. John Distilleries Pvt Ltd
8.2.8. LVMH
8.2.9. Pernod Ricard S.A.
8.2.10. Speyside Distillers Ltd,
8.2.11. Suntory Global Spirits, Inc.
8.2.12. The Bunnahabhain distillery
8.2.13. The Edrington Group Limited
8.2.14. William Grant & Sons Ltd
8.2.15. Other Market Players
Whiskey Tourism Market By Experience Type-
Whiskey Tourism Market By Whiskey Type-
Whiskey Tourism Market By Region-
North America-
Europe-
Asia-Pacific-
Latin America-
Middle East & Africa-
InsightAce Analytic follows a standard and comprehensive market research methodology focused on offering the most accurate and precise market insights. The methods followed for all our market research studies include three significant steps – primary research, secondary research, and data modeling and analysis - to derive the current market size and forecast it over the forecast period. In this study, these three steps were used iteratively to generate valid data points (minimum deviation), which were cross-validated through multiple approaches mentioned below in the data modeling section.
Through secondary research methods, information on the market under study, its peer, and the parent market was collected. This information was then entered into data models. The resulted data points and insights were then validated by primary participants.
Based on additional insights from these primary participants, more directional efforts were put into doing secondary research and optimize data models. This process was repeated till all data models used in the study produced similar results (with minimum deviation). This way, this iterative process was able to generate the most accurate market numbers and qualitative insights.
Secondary research
The secondary research sources that are typically mentioned to include, but are not limited to:
The paid sources for secondary research like Factiva, OneSource, Hoovers, and Statista
Primary Research:
Primary research involves telephonic interviews, e-mail interactions, as well as face-to-face interviews for each market, category, segment, and subsegment across geographies
The contributors who typically take part in such a course include, but are not limited to:
Data Modeling and Analysis:
In the iterative process (mentioned above), data models received inputs from primary as well as secondary sources. But analysts working on these models were the key. They used their extensive knowledge and experience about industry and topic to make changes and fine-tuning these models as per the product/service under study.
The standard data models used while studying this market were the top-down and bottom-up approaches and the company shares analysis model. However, other methods were also used along with these – which were specific to the industry and product/service under study.
