Irish Whiskey Market Size
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 2.12 Million |
| Market Size (2029) | USD 3.26 Million |
| CAGR (2024 - 2029) | 9.04 % |
| Fastest Growing Market | North America |
| Largest Market | Europe |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Irish Whiskey Market Analysis
The Irish Whiskey Market size is estimated at USD 2.12 million in 2024, and is expected to reach USD 3.26 million by 2029, growing at a CAGR of 9.04% during the forecast period (2024-2029).
Irish whiskey, renowned for its smooth and light character, is one of the oldest distilled beverages in the world, with a rich history dating back to the 12th century. The Irish whiskey is highly sought after in Europe, North America, and parts of Asia due to its smoothness and versatility in cocktails. Consumers favor its ability to blend seamlessly into various drinks, making it a staple in cocktail preparation. The demand for Irish whiskey is driven by a preference for fine-aged whiskey and a high regard for quality.
The distinct flavor profile of Irish whiskey, often described as light and fruity with noticeable cereal grain notes, enhances its appeal. This flavor can vary with aging, leading consumers to invest more in aged varieties for enhanced taste and smoothness. Single pot still Irish whiskey is popular and known for its unique taste derived from being distilled in a single distillery using natural raw materials like non-peated malted barley, water, and yeast.
Manufacturers are responding to this preference by expanding their offerings in this category. For instance, in October 2023, the new Irish whiskey brand Outwalker was introduced, promising a bold and distinctive product under the brand name "The Restless Spirit." This launch highlights the ongoing innovation and consumer demand in the Irish whiskey market. Therefore, the demand for Irish whiskey is rising at the global level due to the above-mentioned factors.
Irish Whiskey Market Trends
Increasing Popularity of Blended Whiskey Among Consumers
Blended whiskey, a harmonious mix of various malt and grain whiskies, is increasingly favored by consumers for its balanced flavor profile and accessibility. Unlike single malt or grain whiskies, blended whiskey offers a unique complexity derived from the careful combination of different distillates. This process allows master blenders to create a consistent and versatile product that appeals to a wide range of tastes, making it a popular choice for novice and seasoned whiskey enthusiasts. The smooth and approachable nature of blended whiskey makes it ideal for sipping neat, on the rocks, or as a base for cocktails.
The increasing demand for blended whiskey is driven by its versatility and affordability. As the global whiskey market expands, consumers are exploring different types of whiskey, with blended varieties often serving as an entry point due to their milder flavor profiles. This segment also benefits from innovative marketing strategies and the introduction of premium blends that emphasize quality and craftsmanship. Brands are leveraging the appeal of blended whiskey's rich heritage while catering to modern tastes, ensuring its enduring popularity in the competitive spirit market. For instance, in 2023, Slab Ventures, in AB InBev India, launched D’Yavol Inception, a blended malt Scotch whisky tailored for connoisseurs.
North America is the Fastest Growing Market
North America is the fastest-growing segment in the Irish whiskey market, mainly due to the increasing number of tourist visits from North America to European countries, where Irish whiskey is extremely popular. For instance, it is estimated that about 126.7 million tourists visited different parts of the world, including European countries from the United States alone, in 2023. Consumers in the market tend to explore new and unique flavors of alcoholic beverages and bring back the culture to their hometowns. This interest in consumer behavior encourages the manufacturers to launch their products across these regions, increasing consumption of this Irish whiskey.
The appeal of Irish whiskey’s smooth and light flavor profile resonates strongly with North American consumers, who appreciate its versatility in cocktails and as a standalone drink. Major cities across the United States and Canada are witnessing a rise in Irish-themed pubs and whiskey-tasting events, further boosting the spirit’s popularity. For instance, in November 2023, Co Armagh company launched a new mini Irish pub in the US leisure market. Additionally, aggressive marketing campaigns and the introduction of premium and limited-edition Irish whiskeys are capturing the attention of discerning whiskey enthusiasts, contributing to robust sales growth.
Owing to the demand, manufacturers in the market are introducing their products in the region to gain a competitive edge. For instance, in May 2024, Redbreast Missouri Oak Edition was launched as the brand’s US-exclusive collection. Irish Distillers has created a limited-release Redbreast Irish whiskey that was finished in virgin Missouri oak barrels.
Irish Whiskey Industry Overview
The Irish whiskey market is highly competitive, and major players account for significant shares of the market. In addition, key players are focusing on product innovation, product differentiation in terms of added ingredients, and packaging and branding of the products via social media to attract the target consumers.
December 2023: The Craft Irish Whiskey launched The Devil's Keep in 2020. The Devil's Keep was Craft Irish Whiskey Co.'s first release and previously won the Best Irish Single Malt at the World Whiskies Awards. The Devil's Keep 2023 was aged in four types of casks: bourbon barrels, French oak tawny port casks, three sizes of American oak Pedro Ximénez sherry casks, and charred new Hungarian oak casks. Only 333 bottles were made available worldwide.
Irish Whiskey Market Leaders
-
William Grant & Sons
-
Diageo Plc.
-
The Old Bushmills Distillery Co Ltd
-
Knappogue Castle Whiskey
-
Irish Distillers International Limited
*Disclaimer: Major Players sorted in no particular order
Irish Whiskey Market News
- May 2024: Former Riverdance and Lord of the Dance star Michael Flatley launched a new Irish whiskey. The five-year-old spirit is called “Flatley Irish whiskey” and is branded “The Dreamer,” which has been created in partnership with master blender Noel Sweeney.
- April 2024: Irish Distillers released the oldest whiskey, which is produced by the old Midleton Distillery, as part of its Silent Distillery Collection. The whiskey is priced at EUR 55,000 a bottle.
- March 2024: Redbreast Irish Whiskey, produced by Irish Distillers at the renowned Midleton Distillery in Co. Cork, Ireland, unveiled the Redbreast Cuatro Barriles Edition. This exceptional single-pot still Irish whiskey was launched exclusively in Global Travel Retail in Dublin and Cork Duty-Free. It became part of the Redbreast Iberian Series.
Irish Whiskey Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Drivers
4.1.1 Rising number of Irish Pubs and Restaurants
4.1.2 Experimentation and Innovation in the Irish Whiskey Market
4.2 Market Restraints
4.2.1 Presence of Other Alternatives to Hamper the Market's Growth
4.3 Porter's Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 By Type
5.1.1 Blended
5.1.2 Single-Malt
5.1.3 Single Pot Still
5.1.4 Single Grain
5.2 By Distribution Channel
5.2.1 On-Trade
5.2.2 Off-Trade
5.2.2.1 Online Retail Stores
5.2.2.2 Offline Retail Stores
5.3 By Geography
5.3.1 North America
5.3.1.1 United States
5.3.1.2 Canada
5.3.1.3 Mexico
5.3.1.4 Rest of North America
5.3.2 Europe
5.3.2.1 United Kingdom
5.3.2.2 Germany
5.3.2.3 France
5.3.2.4 Russia
5.3.2.5 Italy
5.3.2.6 Spain
5.3.2.7 Rest of Europe
5.3.3 Asia-Pacific
5.3.3.1 India
5.3.3.2 China
5.3.3.3 Japan
5.3.3.4 Australia
5.3.3.5 Rest of Asia-Pacific
5.3.4 South America
5.3.4.1 Brazil
5.3.4.2 Argentina
5.3.4.3 Rest of South America
5.3.5 Middle East and Africa
5.3.5.1 South Africa
5.3.5.2 Saudi Arabia
5.3.5.3 Rest of Middle East and Africa
6. COMPETITIVE LANDSCAPE
6.1 Strategies Adopted by Leading Players
6.2 Market Share Analysis
6.3 Company Profiles
6.3.1 Diageo PLC
6.3.2 Brown-Forman
6.3.3 Pernod Ricard
6.3.4 Knappogue Castle Whiskey
6.3.5 Irish Distillers International Limited
6.3.6 West Cork Distillers Limited
6.3.7 Beam Suntory Inc.
6.3.8 The Old Bushmills Distillery Co.
6.3.9 William Grant & Sons
6.3.10 Teeling Whiskey Company Limited
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Irish Whiskey Industry Segmentation
Irish whiskey is often triple distilled from unmalted barley that is typically blended with grain whiskey, though there are single malts made entirely in Ireland.
The Irish whiskey market is segmented by product type, distribution channel, and geography. Based on product type, the market studied is segmented into blended, single-malt, single pot still, and single grain. By distribution channel, the market is segmented into on-trade and off-trade. Based on geography, the market studied is segmented into North America, Europe, Asia-Pacific, South America, and Middle East and Africa. The market sizing has been done in value (USD) for all the abovementioned segments.
| By Type | |
| Blended | |
| Single-Malt | |
| Single Pot Still | |
| Single Grain |
| By Distribution Channel | ||||
| On-Trade | ||||
|
| By Geography | |||||||||
| |||||||||
| |||||||||
| |||||||||
| |||||||||
|
Irish Whiskey Market Research FAQs
How big is the Irish Whiskey Market?
The Irish Whiskey Market size is expected to reach USD 2.12 million in 2024 and grow at a CAGR of 9.04% to reach USD 3.26 million by 2029.
What is the current Irish Whiskey Market size?
In 2024, the Irish Whiskey Market size is expected to reach USD 2.12 million.
Who are the key players in Irish Whiskey Market?
William Grant & Sons, Diageo Plc., The Old Bushmills Distillery Co Ltd, Knappogue Castle Whiskey and Irish Distillers International Limited are the major companies operating in the Irish Whiskey Market.
Which is the fastest growing region in Irish Whiskey Market?
North America is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Irish Whiskey Market?
In 2024, the Europe accounts for the largest market share in Irish Whiskey Market.
What years does this Irish Whiskey Market cover, and what was the market size in 2023?
In 2023, the Irish Whiskey Market size was estimated at USD 1.93 million. The report covers the Irish Whiskey Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Irish Whiskey Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Irish Whiskey Industry Report
Statistics for the 2024 Irish Whiskey market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Irish Whiskey analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
