Whisky sales expected to reach $127 billion by 2028

According to Bonafide Research's ‘Global Whisky Market Overview, 2023-28,’ the whisky sector is on course to reach US$127.53 billion by 2028 with a compound annual growth rate (CAGR) of 6.34 percent from 2022.

A significant region for the increase of the category's consumption has been identified as Asia Pacific. According to the survey, Japan's whiskies are challenging the longstanding dominance of Scotch, while India leads this Asia-Pacific area in whisky consumption.

Additionally, Bonafide Research stated that traditional whisky still reigned supreme due to its distinctive flavours, cultural value, and ceremonial enjoyment despite an increase in demand for alcohol-free alternatives. However, according to the report, non-alcoholic whisky substitutes are becoming more and more popular for medical reasons.

According to the research, Scotch remains the most popular whisky on a global scale, although there is a growing inclination for flavoured whiskies.

In addition to American and Irish whiskies, the study looked at Scotch, Canadian, and Japanese whiskies.