Scottish whisky is a malt whisky, which is made up of grains. Originally, Scottish whisky was processed using barley, but around 18^th century, wheat and rye-based Scottish whisky was made. On the basis of product type, Scottish whisky is segmented into single malt, blended malt, blended, single grain, blended grain, and organic whisky. Furthermore, on the basis of price range, Scottish whisky market can be segmented into premium, high end premium, and super premium.

Statistics:

Scottish whisky market was valued at US$ 4.97 Bn in 2018, and it is expected to reach US$ 7.89 Bn by the end of 2027, exhibiting a CAGR of 5.3% during the forecast period (2019 to 2027).

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Drivers:

Several health benefits associated with consumption of Scottish whisky is expected to drive the market growth during the forecast period. For instance, Scottish whisky contains high levels of elegiac acid, which is an antioxidant compound that prevents the body against cancer. Furthermore, Scottish whisky also reduces the risk of stroke, helps prevent diabetes, and lowers the risk of dementia. These factors are expected to boost demand for Scottish whisky among health conscious people, globally.

Market Opportunities & Trends

The market players within the Scottish whisky market are focusing on development of single cask bottling, owing to change in buying behavior of customers. Independent bottlers are experimenting with bottling at cask strength, maturing with different kinds of cask types such as rum casks or wine casks. Furthermore, there is an increasing trend of younger distillations bottled as single cask whisky in the market. The trend is attributed to the fact that independent bottlers are running out of finances, as long matured whisky are rare and expensive. The players within the market are also willing to offer high quality bottling at a lower price range.

Recent Developments

Diageo Plc.

• In November 2019, Diageo launched a new artificial intelligence-based whisky selector, which is helpful in selecting single malt scotch whiskeys for the consumers based on their individual tastes. This device can be accessed from all smartphones or electronic devices, which are connected through internet. This mobile application is named as “what’s your whisky” and uses innovative FlavorPrint Technology.

Bowmore Distillery

• In November 2019, Bowmore Islay Single Malt Scotch Whisky became an exclusive spirits partner of Aston Martin Lagonda. These two British luxury brands came into collaboration for creating an exclusive series of outstanding products and experiences by selling Scotch whisky to its customers.

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Brown-Forman Corporation

• In April 2016, Brown-Forman Corporation acquired BenRiach Distillery Company for around US$ 312 million. With this acquisition, three single malt Scotch whisky brands would be added to the whisky portfolio of the company namely – The GlenDronach, BenRiach, and Glenglassaugh. This acquisition would help the company to re-enter into the industry’s growth segment- single malt Scotch whisky.

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