Global Japanese Whisky Market 2020 (Includes Business Impact of COVID-19)

                                          
“Global Japanese Whisky Market” is the title of an upcoming report at Trusted Business Insights. The report includes global consumer trends, product types, applications and end-use revenue and value, segment, region, and country revenue share, global market growth rate, Compounded Annual Growth Rate, and forecast till 2029. In the report, various aspects and scenarios, current and future, have been examined and understood thoroughly to arrive at all findings. The report offers in-depth insights about the global Japanese whisky market and focuses on findings related to available product types, applications, challenges, and current consumer trends. Sales and growth factors are also mentioned in detail, along with key industry trends, restraints, Y-O-Y growth, CAGR, as well as future forecast & opportunity map analysis. In addition, PEST analysis, Porter’s Five Forces analysis, and value chain analysis have been analysis and presented in the final version of the report. Data has been validated thoroughly through inputs and opinion of industry experts, and supporting data and information added in the report to further strengthen all findings. The company profile section contains details of key players, including their revenues, strategies, recent developments, business segments, acquisitions, and mergers, revenue and change in growth rate (percentage), product launch-announcements, etc. The global Japanese whisky market report has been segmented on the basis of application, distribution channel, and regions and countries.

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Introduction and 
Dynamics:

Japanese whisky is a style of whisky developed and produced in Japan, and though production began around 1870, whisky was first commercially available in 1924, with the opening of the country's first distillery, Yamazaki. Similar to Scotch, Japanese whisky is aged in wooden kegs, sometimes in Japanese Mizunara oak, other oak as well as in Sherry casks, and this imparts unique characteristics in terms of taste and flavor. Japanese whiskies come in single and double malts. Japanese whisky flavors and taste is not harsh, as compared to other whiskies, and have been gaining popularity in the recent past in countries across the globe.

Among some of the key factors driving demand for and consumption of Japanese whisky include rising inclination towards the cocktail culture and experimental mixology, as well as increasing socializing – before COVID-19 outbreak and pandemic – and other factors that are adversely affecting sales of liquor, footfalls at clubs, bars, restaurants and night clubs, and increasing awareness regarding potential health hazards of excessive consumption of alcohol, rising prices, and increasing number of health-conscious consumers globally. A sizable consumer base of which were hard alcohol consumers, have switched to milder drinks, or stopped consumption entirely.

Increasing deployment and setting up bars and pubs, memberships, and focus on more consumer-appealing ambience and offers is resulting in building of brand-loyal consumers. Increasing offerings and consumption of unique and imported liquors, such as Japanese whiskies and other country-specific products, is supporting growth of the overall liquor and alcohol market. Happy Hour trend offered by various commercial restaurants, pubs, hotels, and breweries serving alcohol is boosting consumer footfalls to a significant extent.

Regional Analysis:

Asia Pacific is the largest market for Japanese whiskey currently, and this can be attributed to the presence of Japan and high product penetration in some countries in the region. Sales of Japanese whisky is relatively high in France, China, the US, and the Philippines. While consumers ideally have access to Japanese whisky in Japanese restaurants or karaoke bars, product penetration across other countries will further support growth of the global Japanese whisky market to a substantial extent.

Asia Pacific is the largest market for Japanese whiskey, accounting for over 50% of total global revenues in 2019. This can be attributed to rapid population growth, urbanization, and rising disposable income in countries such as China, India, and Thailand.

Local and international manufacturers are experimenting with various maturing techniques and the types of wood for curing in order to gain an edge over the competition. Japanese whisky sales in markets in North America and Europe together accounted for just over 26% of the global market in 2019. In countries in these regions, there is a shift in consumer preference, older consumers shifting from beer and ciders to stronger spirits and alcohol.

Global Japanese Whisky Market Segmentation:

Segmentation by Application:

Commercial
Residential

Segmentation by Distribution Channel:

On-Trade
Off-Trade