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(MoneyNewsWire.Net, May 08, 2018 ) The North America Whiskey Market was worth USD 1.28 billion in 2016 and estimated to be growing at a CAGR of 5.15%, to reach USD 1.64 billion by 2021. The market is showcasing evident potential in the mentioned forecasting period. The market continues to gain momentum with the rapid development in the industry.
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Whiskey comes under the category of affordable luxury items, resulting in many whiskey producing companies to launch more premium and super premium whiskies in the market. As an innovation, the brewing sector is launching an organic whiskey which does not have any artificial colours.
The North America whiskey market is majorly driven by the recent change in lifestyles, increasing habit of consuming liquor, growing disposable income, and rising affordability of whiskey. However, some of the restraints hamper the growth of the industry, like heavy taxes, strict regulations by the governments, and health hazards associated with whiskey consumption.
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The North America Whiskey Market is segmented on the basis of Product into Malt Whisky, Wheat Whisky, Rye Whisky, Corn Whisky, Blended Whisky, and Others. Based in Premium, the market is segmented into Premium, High End Premium, and Super Premium.
On the basis of geography, the North America market is analysed under the regions U.S.A and Canada. The North America region holds a significant share in the global whiskey market and is expected to show substantial growth during the future years.
Some of the major companies dominating the market, by their products are Accolade Wines, Allied Blenders & Distillers, Asahi Breweries, Bacardi Ltd., Beam Suntory, Diageo, John Distilleries, Pernod Ricard, and Smirnoff.
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