Irish Whiskey Market by Type , Pricing , and Sales Channel : Global Opportunity Analysis and Industry Forecast, 2021–2027

The global Irish whiskey market was valued at $4,260.0 million in 2019, and is predicted to grow at a CAGR of 9.2 percent from 2021 to 2027, reaching $7,677.5 million. North America contributed the most revenue in 2019, accounting for the largest value share, and is expected to expand at a remarkable CAGR of 9.6% in 2020. In terms of Irish whiskey consumption, the United States was the leading country, and this trend is likely to continue during the forecast period.

Irish whiskey is regarded as one of the best alcoholic beverages in the world. It's manufactured from malted and unmalted barley and distilled for around three years. It goes through a fermentation process during distillation, where extra enzymes aid in the processing and conversion to alcohol. It is then distilled three times for a richer flavour and smoother texture. Because it is smoother than other whiskeys, Irish whiskey is noted for blending well with other beverages. In addition, Irish whiskey is ideal for creating cocktails and shooter recipes. Due to variables such as increased disposable income, bar etiquette, and spirits-led tourism, it is particularly popular in countries such as the United States, the United Kingdom, France, and Germany.

Buyers' interest in Irish whiskey has been strong. The COVID-19 has had a negative impact on global market growth. The closure of bars, clubs, and pubs has resulted in a downturn in the growth of the Irish whiskey market. The fall in supply chain manufacturing and distribution hampered whiskey supplies and resulted in low sales. The producer, on the other hand, did not incur a loss on the stock of their alcoholic beverages that were already in barrels, because the longer drinks are in barrels, the higher their value becomes. In addition, there was little change in customer consumption of alcoholic beverages in the United Kingdom.