Irish whiskey’s star still shines in US
Growth in Irish whiskey has been aided and abetted to a great extent by the demand for super premium Irish whiskeys.
Still one of the country’s fastest-growing segments, over the past five years Irish whiskey volumes in the US have increased at a Compound Annual Growth Rate of 13.4% according to IWSR figures where domestic whiskeys grew at just 5.5% and Scotch just 02% over this time. What’s more, the drinks market analyst forecasts that the Irish whiskey category will continue to grow.
Though Irish whiskey represents just 2% of the total spirits volume in the US (that’s 7% of the market for whiskies there), it remains one of the fastest-growing spirits categories in the US.
According to preliminary 2019 IWSR figures, Irish whiskey volumes grew there 8.6% last year.
This growth has been aided and abetted to a great extent by the demand for super premium Irish whiskeys, those costing over $30 a bottle.
Indeed premiumisation is a key driver for sustained interest and innovation in the category. In 2019 alone, IWSR tracked almost 30 new Irish whiskey brand lines entering the US market at a premium-or-above price point.
Meanwhile Nielsen has reported a 234% surge in online sales last month in the US, where Irish whiskey is seen as a bargain relative to its counterparts in Scotland and Japan, making it a sensible high-end alternative for stocking at home, reports Newsweek.
