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NEW YORK, Aug. 4, 2021 /PRNewswire/
Technavio has been monitoring the whiskey market and it is poised to grow by USD 28.67 billion during 2021-2025, progressing at a CAGR of almost 6% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment.
Technavio has announced its latest market research report titled Whiskey Market by Product, Distribution Channel, and Geography - Forecast and Analysis 2021-2025
The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Bacardi Ltd., Beam Suntory Inc., Brown Forman Corp., Constellation Brands Inc., Davide Campari Milano Spa, Diageo Plc, LVMH Moet Hennessy Louis Vuitton, Pernod Ricard SA, William Grant and Sons Ltd., and Allied Blenders and Distillers Pvt. Ltd. are some of the major market participants. Although new product launches will offer immense growth oppo
Impact of COVID-19
The craft spirits market will witness a neutral impact during the forecast period owing to the widespread growth of the COVID-19 pandemic. As per Technavio s pandemic-focused market research, market growth is likely to grow in 2021 as compared to 2020.
Frequently Asked Questions:
Based on segmentation by product, which is the leading segment in the market?
Based on the product, the market witnessed maximum growth in the craft gin segment in 2020.
What are the major trends in the market?
Growing disposable incomes of consumers is identified as one of the major trends in the market.
At what rate is the market projected to grow?
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