Europe: Whisky Market 2024

Whisky Market Size in Europe

In 2023, the Europe whisky market increased by X% to $X, rising for the second consecutive year after four years of decline. In general, consumption showed a mild contraction. The pace of growth was the most pronounced in 2017 with an increase of X%. Over the period under review, the market hit record highs at $X in 2014; however, from 2015 to 2023, consumption failed to regain momentum.

Whisky Production in Europe

In value terms, whisky production reached $X in 2023 estimated in export price. Overall, production, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 with an increase of X% against the previous year. The level of production peaked at $X in 2021; however, from 2022 to 2023, production remained at a lower figure.

Whisky Exports

Exports in Europe

In 2023, overseas shipments of whisky decreased by X% to X litres for the first time since 2020, thus ending a two-year rising trend. Over the period under review, exports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2022 when exports increased by X% against the previous year. As a result, the exports attained the peak of X litres, and then fell in the following year.

In value terms, whisky exports fell slightly to $X in 2023. The total export value increased at an average annual rate of X% from 2012 to 2023; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when exports increased by X%. Over the period under review, the exports reached the peak figure at $X in 2022, and then reduced in the following year.

Exports by Country

The UK represented the major exporter of whisky in Europe, with the volume of exports accounting for X litres, which was approx. X% of total exports in 2023. It was distantly followed by Ireland (X litres), achieving a X% share of total exports. The following exporters - France (X litres) and the Netherlands (X litres) - each reached a X% share of total exports.

The UK experienced a relatively flat trend pattern with regard to volume of exports of whisky. At the same time, Ireland (X%) displayed positive paces of growth. Moreover, Ireland emerged as the fastest-growing exporter exported in Europe, with a CAGR of X% from 2012-2023. The Netherlands and France experienced a relatively flat trend pattern. While the share of Ireland (X p.p.) increased significantly in terms of the total exports from 2012-2023, the share of the UK (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the UK ($X) remains the largest whisky supplier in Europe, comprising X% of total exports. The second position in the ranking was held by Ireland ($X), with a X% share of total exports. It was followed by the Netherlands, with a X% share.

In the UK, whisky exports remained relatively stable over the period from 2012-2023. In the other countries, the average annual rates were as follows: Ireland (X% per year) and the Netherlands (X% per year).

Export Prices by Country

In 2023, the export price in Europe amounted to $X per litre, rising by X% against the previous year. Over the last eleven-year period, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2021 when the export price increased by X% against the previous year. Over the period under review, the export prices hit record highs in 2023 and is expected to retain growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was the Netherlands ($X per litre), while Ireland ($X per litre) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by the Netherlands (X%), while the other leaders experienced more modest paces of growth.

Whisky Imports

Imports in Europe

In 2023, approx. X litres of whisky were imported in Europe; flattening at the previous year's figure. Over the period under review, imports recorded a pronounced setback. The pace of growth was the most pronounced in 2022 with an increase of X%. The volume of import peaked at X litres in 2013; however, from 2014 to 2023, imports stood at a somewhat lower figure.

In value terms, whisky imports skyrocketed to $X in 2023. The total import value increased at an average annual rate of X% over the period from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2023, France (X litres), followed by the Netherlands (X litres), the UK (X litres), Spain (X litres), Germany (X litres), Russia (X litres), Poland (X litres) and Ukraine (X litres) were the main importers of whisky, together committing X% of total imports. Italy (X litres), Latvia (X litres), Belgium (X litres), Romania (X litres) and Bulgaria (X litres) followed a long way behind the leaders.

From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Latvia (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, France ($X), the Netherlands ($X) and Germany ($X) constituted the countries with the highest levels of imports in 2023, with a combined X% share of total imports. Spain, Poland, Latvia, the UK, Russia, Italy, Romania, Belgium, Bulgaria and Ukraine lagged somewhat behind, together comprising a further X%.

Among the main importing countries, Latvia, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2023, the import price in Europe amounted to $X per litre, increasing by X% against the previous year. In general, the import price saw a prominent expansion. The pace of growth was the most pronounced in 2020 an increase of X%. Over the period under review, import prices reached the maximum in 2023 and is likely to see steady growth in the near future.

There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was Latvia ($X per litre), while Ukraine ($X per litre) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Latvia (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform