Global Irish whiskey volumes are estimated to increase, according to a recent research report by Technavio. The research data has identified that between 2021 to 2026, the global Irish whiskey category will grow by US$1.54 billion. It is also anticipated that the category’s momentum will “decelerate at a CAGR of 5.33% during the forecast period”.
The report includes financial performances, growth strategies, product innovations, new product launches, investments, and growth in market share, and has found that the Irish whiskey category is “concentrated” among “a few prominent vendors”.
According to Technavio, the Irish whiskey category is “subject to rapidly changing consumer demands and preferences” and many of the “major vendors are focusing on acquiring smaller brands to increase their market presence”.
The report further details how the Irish whiskey category’s growth is being driven by the “increasing demand for premium whiskey” i.e., Micil Distillery has launched two new Irish whiskeys, namely Micil Inverin small blended Irish whiskey, and Micil Earls Island Single Pot Still Irish Whiskey.
Additionally, the findings set out how the “increasing demand for craft whiskey is a key trend in the market” since “it is perceived to be made with high-quality ingredients and has a better taste”. For instance, in November 2020, Craft Irish Whiskey Co. launched a new limited-edition Irish whiskey called The Taoscán Irish Whiskey.
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