SCOTCH WHISKY MARKET SET TO REACH RECORD SALES OF £12 BILLION BY 2028

Keeping tabs on trends in the spirits industry can be tough. At the moment, tequila seems to be grabbing all the headlines, in the past it was gin until gin-fatigue set in. Amidst the ever-changing landscape, recent reports estimate that the Scotch whisky market is going to continue to grow. Experts reckon it will hit a staggering £12 billion ($15 billion) in global sales by 2028.

This report comes from research and advisory firm Technavio, with the surge in ultra-premium and luxury releases contributing to the increase in. With a compound annual growth rate of over 9%, it’s the high-end whiskies that are pushing the charge. 

Technavio does however highlight that there is stiff competition from other spirits categories, specifically mezcal, vodka, rum, and tequila. European markets are proving lucrative for these alternatives, while in China, baiju (a clear liquid usually distilled from a fermented crop called sorghum) remains a dominant force in terms of sales. 

In conclusion, the forecasted growth looks promising for the industry, however only time will tell if Technavio’s optimistic projections come to fruition, but for now, Scotch enthusiasts can toast to the exciting prospects ahead!