Industry Background:
Bourbon is a type of American whiskey, a barrel-aged, distilled liquor made primarily from corn. It is a product of aging in charred oak casks, a process that gives bourbon its brownish Color and distinctive taste. It is stored in charred oak barrels without including any additives or colorings. Straight bourbon must be aged at least two years, and blended bourbon must contain at least 51% straight bourbon on a proof gallon basis. Application in households and HoReCa has increased the demand for the bourbon. The USA Bourbon Whiskey market was valued at USD 2,991.16 Million in 2021 and is expected to reach USD 4,319 Million by 2027, growing at a CAGR of 6.31% during 2021-2027.This growth is primarily driven by Rising Demand for the Aged Bourbon Whiskeys
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Attributes | Details |
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Study Period | 2017-2027 |
Base Year | 2021 |
Forecast Period | 2022-2027 |
Volume Unit | K Liters |
Value Unit | USD (Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
The Brewers sector in the North America region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Vendors, such as Blanton's Bourbon (United States), Woodford Reserve (United States), Pappy Van Winkle (United States), Jim Beam (United States), Hudson Baby Bourbon (United States), Buffalo Trace Distillery (United States), Maker’s Mark (United States), Black Maple Hill (United States) and Booker’s (United Kingdom), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
On October 2022, Heaven Hill Distillery launched Square 6 High-Rye Rye Whiskey, the latest innovative product to come from the Evan Williams Bourbon Experience., On Sept 2022, Kirin Holdings Company, Limited announced its plans to invest USD 70 million in Indian craft beer maker Bira 91. and On Sept 2022, Kirin Holdings Company, Limited collaborated with Coca-Cola Japan to develop a health drink.
On Sept 2022, Davide Campari-Milano NV launched its fusion liqueur X-Rated in India., On Sept 2022, Davide Campari-Milano NV entered into an agreement to acquire Picon Brand and related sssets from Diageo. and In 2021, Diageo launched a new Bourbon from its George Dickel brand with an eight-year-old blended whiskey that comprises 84% corn, 8% rye, and 8% malted barley. This launch is a balanced bourbon whiskey with balanced proportions and well-aged to launch as a brand for catering to the demand for the whiskey.
Regulatory Insights:
The Federal Standards of Identity for Distilled Spirits, codified under 27 CFR §5.22(b)(1)(i), states bourbon made for U.S. consumption must be: Produced in the United States and Territories (Puerto Rico) and the District of Columbia, Made from a grain mixture that is at least 51% corn, Aged in new, charred oak containers, Distilled to no more than 160 (U.S.) proof (80% alcohol by volume), Entered into the container for aging at no more than 125 proof (62.5% alcohol by volume), Bottled (like other whiskeys) at 80 proof or more (40% alcohol by volume).
Influencing Trend:
Clean Label Manufacturing and Attractive Packaging Techniques, Online Sales Can Drive Growth and Consolidation and Diversification
Market Growth Drivers:
Rising Demand for the Aged Bourbon Whiskeys and Increasing Demand for the Wines to Comply with Taste Differences
Challenges:
Availability of Substitutes in Market
Restraints:
High Costs involved with Bourbon Whiskey
Opportunities:
Rising Applications of Bourbon Whiskey in HoReCa Culture and Increasing Usage of Bourbon Whiskey
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mainly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Vendors landscape impacting the market's growth. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Data Sources of Bourbon Whiskey Market Study
Primary Collection: InMail, LinkedIn Groups, Survey Monkey, Google, and Other professional Forums are some of the mediums utilized to gather primary data through key industry participants and appointees, subject-matter experts, C-level executives of Bourbon Whiskey Industry, among others including independent industry consultants, experts, to obtain and verify critical qualitative commentary and opinion and quantitative statistics, to assess future market prospects.
The primary interviews and data collected as per the below protocols:
By Designation: C-Level, D-Level, Others
By Company Type: Tier 1, Tier 2, Tier 3
Secondary Data Sources such as Annual reports, Press releases, Analyst meetings, Conference calls, Investor presentations, Management statements, and SEC filings of Bourbon Whiskey players along with Regulatory Sites, Association, World bank, etc were used as sources secondary set of data.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Bourbon Whiskey Study Sheds Light on
The Bourbon Whiskey Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Bourbon Whiskey industry Vendors. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Bourbon Whiskey industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Vendors can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.