In a recent report it’s been found Irish Whiskey is anticipated to overtake Scotch over the next decade. Latest figures published by the Distilled Spirits Council reveal Irish Whiskey sales have risen by 16.3% and from $185 million to a groundbreaking $1.3 billion. According to their report, it’s the third-fastest-growing category by revenue last year behind premixed cocktails and tequila/mezcal. It was also the third-fastest-growing spirit by volume, up 17.8 per cent in 2020.
Irish Whiskey Association director William Lavelle stated it was “clear” that Irish whiskey would become increasingly competitive in the higher-end whiskey market in the US. Lavelle then went on to explain the spike in the growth of Whiskey sales in the United States has been greater than the increasing growth found with scotch over the last decade. By 2030 he predicts Irish Whiskey sales will surpass Scotch. This would be the first time this has happened since prohibition a century ago, making it a notorious event in the history of Whiskey.
In terms of high- end growth, in the US Whiskey sales have risen each year since 2002, which was when $64 million in revenues was recorded on volumes of 434,000 nine-litre cases. This sector has massively gained from sales of higher end products. As a matter of fact, since 2002, high end premium and super premium Whiskey brands have grown by 1,112% and 9,102% respectively. Lavelle stated “With more supply coming available of age-statement, super-premium brands – from both established and newer distilleries – it is clear that Irish whiskey is going to be an increasingly competitive player in the higher-end whiskey market, taking on Scotch single malts”.
To conclude, sales of spirits in the US rose 12% to $35.8 billion in 2021 with volumes at 9.3%. This gives a great opportunity to anybody looking to profit from the explosion of the Irish whiskey market.
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