Although the market for Scotch is still growing slightly in Europe, the Asian markets are experiencing double-digit growth...
It was only a matter of time: for the first time, Asia as a continent overtook Europe in terms of whiskey consumption - and is now the largest and therefore most important market for Scotch whiskey. Japan Times reports that whiskey growth in Asia has been double-digit, significantly greater than on our continent. This was also confirmed, for example, by the figures from Pernod Ricard, with a growth of 21% for Scotch whiskey in Asian markets. Specifically, Chivas grew by 32%, primarily in Asia, according to the group.
This change will not be a short-term one. A quote from Duncan Fox, analyst at Bloomberg:
“Asia is where the longer-term growth will be, especially as you convert people from whatever the local whiskies are or the cheaper blends to more expensive whiskies over time.”
Population development certainly has something to do with this - especially in markets like India, there is rapid growth in the young population, while at the same time the wealthy classes are strengthening.