With greater volume available for export in the next three years, the total value of sales of Japanese whisky is predicted to grow 44.4% in the UK, to £11.7m by 2022.
The foresight has been revealed in the inaugural Edrington-Beam Suntory UK Whisky Yearbook, which also revealed that the entire whisky category will be worth £2.4bn by 2022, up 6%.
American whiskey is expected to grow from £688m in 2018 to £742m in 2022, Irish whiskey will increase by £28.5m to £163.9m, and Scotch will be up from £394m to £439m. Canadian whiskey will grow to become a £9m category.
“Whisky is one of the most diverse and dynamic of the spirits categories,” says Mark Riley, managing Edrington-Beam Suntory UK. “Our forecast is that it is also one that will see growth over the next three years. Bartenders and retailers tell us that whisky is a key focus for them, with plans to invest in broadening their knowledge and range, ensuring they can accommodate the increasing appetite for the spirit from consumers in both on and off-trade.
“Our forecast is that Scotch single malt and American whiskies will drive future growth, continuing to attract new consumers to the whisky category and successfully appealing to existing customers with new expressions. Both are seeing customers trade-up as they explore the categories, which is supporting the increase in the value and volume of sales.”
“Irish and single grain whiskies have been real success stories over the past twelve months – sharing rapid growth on an already strong base of both volume and value in the market. We expect both to play a greater role in shaping the wider market in the coming years.
“The supply challenges that have arguably held back growth in Japanese and Canadian whiskies have eased. While there remains a challenge securing enough liquid from leading brands from both nations to satisfy UK demand, there is far greater supply forecast and we predict we will see growth as a result.”