According to IWSR's 2018 Drink Market Analysis, whisky has continued to grow faster than most other spirits, with a 7 percent rise in the previous year. At the same time, volume for the category is predicted to grow to 581 million nine-litre cases per year by 2023.
Fuelled by growth in the overall category alongside exciting innovation, a new generation of master blenders, drinks founders and disruptive new world whisky distilleries have the potential to bring about a new defining era for New World Whisky.
LIQUID INNOVATION WITHIN A GROWING
CATEGORY
New producers have learned their craft from the original whisky pioneers and are respectful of local traditions, culture and heritage. While they still aim to bring the spirits of the past alive through traditional blending techniques, they are also exploring the innovation of new spirits across the production spectrum.
RESONATING WITH A NEW GENERATION
New whisky distilleries are gaining attention all over
the world, in both traditional and non-traditional regions such as Denmark, New
Zealand, Mexico and Bolivia. These emerging New World Whisky producers are
forging their own styles, creating a connection with a new generation of consumers
who are interested in discovering new products and experiences.
NAVIGATING IN A NEW RETAIL ENVIRONMENT
Like all industries – the drinks industry has had to navigate change and challenges created by the Covid-19 pandemic. Whilst the shape of recovery is uncertain, there are ways that New World Whisky brands can adapt.
According to the report, 62% of UK respondents who drink whisky and 82% of US whisky drinking respondents trust bartender recommendations. This proves that New World Whisky brands can play a significant role in supporting the on-trade through education and positive consumer experiences.
With a greater need for sophisticated
online shopping platforms, the eCommerce opportunities for new spirits and other alcohol brands, in
general, are huge but largely undeveloped. According to IWSR's 2018 Drink
Market Analysis, just 2 percent of all global spirits sales were made online.
With
30% of consumers claiming they would not purchase a bottle of whisky they’ve never tried
before, trial at home has become a crucial way for New World Whisky brands to attract
new customers via virtual tastings and sampling packs.
THE FUTURE OF WORLD WHISKY
New World whisky makers are playing an important role in developing the new whisky category through liquid innovation, digital communication, the formation of real connections and their own followers.
Distill Ventures is committed to developing innovation in whisky by helping startup drinks brands or established distilleries to scale through funding, networking, expertise and partnering. We’re proud to work hand-in-hand with the best entrepreneurs and their cutting edge whisky brands as we collectively continue to learn, evolve and seek out new partnerships.
Download and read the full report on New World Whisky below.
