market is set to grow to a record $15 billion in global sales by 2028, which is good news for the 150 distilleries currently making single malts and blends across every region of Scotland.George Dickel Just Dropped a New Bottled-In-Bond Whiskey, and It’s Stellar
Global research and advisory company Technavio issued this new report, citing the increase in ultra-premium and luxury releases as the driving factor of this projected growth. This increase in sales over the next four years amounts to a compound annual growth rate of more than nine percent, with expensive expressions and leading the way. “High-end Scotch whiskies are valued for their exceptional quality and exclusivity, commanding higher prices compared to standard options,” said the report.
There are some challenges, of course, and according to Technavio the main obstacle is the competition that other drinks categories pose, specifically, vodka, rum, and tequila, which tracks with last year’s news about the rise of agave spirits. While European nations like Germany, France, and Italy are proving to be lucrative markets for these other categories, in China the main challenge is.
Overall, this report is good news for the Scotch whisky industry, provided it turns out to be true. We’ll check back in four years to see how Technavio’s bullish predictions played out.Flicker is currently Robb Report's whiskey critic, writing a weekly review of the most newsworthy releases around.