Whiskey and Bourbon Distilleries in the US Industry Market Research Report Now Available from IBISWorld
New York, NY (PRWEB) November 17, 2014 -- The past five years have demonstrated remarkable change for the Whiskey and Bourbon Distilleries industry, not only from the industry's most dominant distillers, but also from an emerging class of independent microdistillers from across the country. Although industry household brands such as Jim Beam, Evan Williams, Jack Daniel's and Wild Turkey have all invested in major production facilities and new artisanal stills, it is the growing class of craft distilleries that has provided the industry with its recent boost. Despite the top four whiskey brands holding an estimated 53.2% market share, the number of industry establishments in the Whiskey and Bourbon Distilleries industry is projected to increase at an 11.6% annualized rate over the five years to 2014. This massive growth from independent newcomers like Kings County, Ole Smoky and Catoctin Creek has contributed to projected annualized revenue growth of 3.3%, reaching $2.4 billion in the five years to 2014.
According to IBISWorld Industry Analyst Nick Petrillo, “The industry's recent popularity is attributable to US consumers' increasing preference for craft alcoholic beverages.” The craft phenomenon has generally been driven by consumers who seek out alcoholic beverages that are made with premium ingredients, expert processes and careful attention to detail. Much of this craft craze began with craft beer and cider producers, although the popularity of small-scale alcoholic beverage production has reached the Whiskey and Bourbon Distilleries industry in recent years.
“The industry, however, may not experience the same explosive growth rates over the next five years compared with popular alcoholic beverage industries,” says Petrillo. Although many distillers are increasing their promotional budgets, developing milder brands to appeal to casual whiskey drinkers and expanding production throughout the United States, whiskey remains a relatively slower growing industry. Whiskey is often less popular for casual drinkers. Passionate drinkers of whiskey are more prone to purchase premium whiskey from the industry, but the emerging independent brewers in this industry still must establish themselves as legitimate contenders in the industry. Since it often takes several years for truly premium whiskeys to age in barrels and become desirable, there may be a lag in the industry's projected surge in growth over the next five years.
For more information, visit IBISWorld’s Whiskey and Bourbon Distilleries in the US industry report page.
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IBISWorld industry Report Key Topics
The Whiskey and Bourbon Distilleries industry consists of establishments that distill grains and manufacture them into whiskey. The distillation process varies and can lead to many different forms of whiskey, including bourbon, rye, malt and other styles and blends. These whiskeys are bottled and sold to liquor wholesalers, bars, casinos, restaurants, hotels and other retail stores.
Industry Performance
Executive Summary
Key External Drivers
Current Performance
Industry Outlook
Industry Life Cycle
Products & Markets
Supply Chain
Products & Services
Major Markets
Globalization & Trade
Business Locations
Competitive Landscape
Market Share Concentration
Key Success Factors
Cost Structure Benchmarks
Barriers to Entry
Major Companies
Operating Conditions
Capital Intensity
Key Statistics
Industry Data
Annual Change
Key Ratios
About IBISWorld Inc.
Recognized as the nation’s most trusted independent source of industry and market research, IBISWorld offers a comprehensive database of unique information and analysis on every US industry. With an extensive online portfolio, valued for its depth and scope, the company equips clients with the insight necessary to make better business decisions. Headquartered in Los Angeles, IBISWorld serves a range of business, professional service and government organizations through more than 10 locations worldwide. For more information, visit http://www.ibisworld.com or call 1-800-330-3772.
Gavin Smith, IBISWorld, +1 (310) 866-5042, [email protected]
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