Market Size of Irish Whiskey Industry
| 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 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 | ||||
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| By Geography | |||||||||
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Irish Whiskey Market Size Summary
The Irish whiskey market is experiencing robust growth, driven by its popularity in regions such as Europe, North America, and parts of Asia. Consumers are drawn to Irish whiskey for its smoothness and versatility, making it a preferred choice for cocktails and other alcoholic mixes. The distinct flavor profile, characterized by light and fruity notes with cereal grain undertones, appeals to those seeking quality and fine-aged options. The single pot still variety, known for its unique flavor due to the use of both malted and unmalted barley, is particularly favored. This has led manufacturers to introduce more products in this segment, catering to the growing demand for premium beverages, especially among younger consumers. The market is further bolstered by innovations like organic whiskey and the expansion of distribution channels, including online retailing and airport outlets.
The North American region is emerging as the fastest-growing market, fueled by increased tourism to Europe and a growing interest in unique alcoholic flavors. This has prompted manufacturers to expand their presence and introduce new products to capture this demand. The competitive landscape is marked by significant activity from major players who are focusing on product innovation, differentiation, and strategic collaborations to enhance their market share. The rising number of bars, pubs, and clubs also contributes to the increased consumption of Irish whiskey. Notable industry players, including Diageo, William Grant & Sons, and The Old Bushmills Distillery Co., are actively engaging in mergers and acquisitions to diversify their portfolios and strengthen their market position.
Irish Whiskey Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Drivers
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1.1.1 Rising number of Irish Pubs and Restaurants
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1.1.2 Experimentation and Innovation in the Irish Whiskey Market
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1.2 Market Restraints
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1.2.1 Presence of Other Alternatives to Hamper the Market's Growth
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1.3 Porter's Five Forces Analysis
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1.3.1 Threat of New Entrants
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1.3.2 Bargaining Power of Buyers/Consumers
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1.3.3 Bargaining Power of Suppliers
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1.3.4 Threat of Substitute Products
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1.3.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 By Type
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2.1.1 Blended
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2.1.2 Single-Malt
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2.1.3 Single Pot Still
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2.1.4 Single Grain
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2.2 By Distribution Channel
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2.2.1 On-Trade
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2.2.2 Off-Trade
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2.2.2.1 Online Retail Stores
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2.2.2.2 Offline Retail Stores
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2.3 By Geography
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2.3.1 North America
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2.3.1.1 United States
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2.3.1.2 Canada
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2.3.1.3 Mexico
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2.3.1.4 Rest of North America
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2.3.2 Europe
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2.3.2.1 United Kingdom
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2.3.2.2 Germany
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2.3.2.3 France
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2.3.2.4 Russia
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2.3.2.5 Italy
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2.3.2.6 Spain
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2.3.2.7 Rest of Europe
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2.3.3 Asia-Pacific
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2.3.3.1 India
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2.3.3.2 China
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2.3.3.3 Japan
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2.3.3.4 Australia
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2.3.3.5 Rest of Asia-Pacific
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2.3.4 South America
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2.3.4.1 Brazil
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2.3.4.2 Argentina
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2.3.4.3 Rest of South America
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2.3.5 Middle East and Africa
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2.3.5.1 South Africa
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2.3.5.2 Saudi Arabia
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2.3.5.3 Rest of Middle East and Africa
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Irish Whiskey Market Size 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.
