WHISKEY MARKET ANALYSIS

Market Challenges And Opportunities

Market Dynamics:

The growth of the global whiskey market is majorly driven by the introduction of favorable trade policies by government of various countries coupled with reduction of import duties on spirits. For instance, in July 2018, a deal was signed between the European Union and Japan for removing tariffs on traded goods such as Japanese whiskey and scotch.  Moreover, increasing distilleries across the globe, is expected further to drive growth of the market over the forecast period. For instance, Her Majesty's Revenue and Customs stated, in 2018, a total of 54 new distilleries were opened in the U.K. However, the global whiskey market growth is expected to be hampered, owing to fluctuations in the average demand for the aged premium whiskeys.