Asia driving global malt whisky growth

Asia driving global malt whisky growth

Strong growth in Asia has driven the world’s malt whisky sector, which grew by 46.7% between 2003 and 2012, according to a new report from just-drinks and The IWSR.

With the overall industry hitting a record high in 2012 of 7.8m cases, the study predicts that Asia will continue to see a "very dynamic" compound annual growth rate of 20.2%, and reach around 1.5m cases in 2012. 

Taiwan on a high

While most of this growth came from Taiwan, the report found that most countries in Asia are experiencing "healthy growth". Taiwan overtook France in 2012 to become the second-largest market for malt.

Another key driver for the malt sector has been the travel retail market, which has grown its share of the category from 12% in 2003 to 15% in 2012. This market’s sales in value terms reached US$447.7m in 2012.

Growth has also been strong in the Americas. North America has registered a "very healthy" 6.3% CAGR over the last 10 years, according to the report. In 2012, the country was the largest malt market in the world at 1.4m cases, representing a rise of almost 12% from 2011.

US still strong

The US is also the largest individual market in retail value terms (including excise duties), with a 15.5% share in 2012. The US malt category’s retail value sales climbed from US$272.5m in 2003 to just under US$613m in 2012.

Overall, the global malt market expanded at a CAGR of 7% between 2007 and 2012 in retail value terms, including excise taxes and duties, to reach US$3.95bn.

Europe is the largest region by retail value with a 38% share, followed by Asia-Pacific at 22%, the Americas at 21% and travel retail at 11.3%.

However, Europe’s share of the global market has fallen from almost 60% in 2003. Most of this decline can be attributed to softening sales in Southern Europe as a result of the economic crisis.

Italy, Spain and Greece have all seen sharp declines, the report stated.

Related News

Tiny Kiwi distiller takes on might of William Grant over trademark

Tiny Kiwi distiller takes on might of William Grant over trademark

Malt innovation: Heineken's Fayrouz brand launched a pineapple variety

Malt beverage brands must innovate to maintain impressive growth: Canadean

‘Mad Men effect’ driving younger Aussies to gain a taste for whisky

‘Mad Men effect’ driving younger Aussies to gain a taste for whisky

Scotland—and its whisky—attractive to Indian partners

Scotland—and its whisky—attractive to Indian partners

Whisky market haunted by India's new found love of premium spirits

Cheap whiskies haunted by India's new found love of premium spirits

Two drinking tales give reasons for India's dampened spirits

Two drinking tales give reasons for India's dampened spirits

Submit a comment

Your comment has been saved

Post a comment

Please note that any information that you supply is protected by our Privacy and Cookie Policy. Access to all documents and request for further information are available to all users at no costs, In order to provide you with this free service, William Reed Business Media SAS does share your information with companies that have content on this site. When you access a document or request further information from this site, your information maybe shared with the owners of that document or information.