Asian Scotch Whisky Consumption Surpasses Europe
The Asian Scotch whisky consumption has spiraled past the EU as the top consumer. Scotch whisky distilleries are reaping the fruits of decades-long marketing programs.
In an in-depth report published in the Japan Times, the Scotch Whisky Association is reporting sales growth throughout Asia. In a year when worldwide alcoholic consumption has lowered, the sales of Scotch whiskies reported growth.
According to the article, distilleries Chivas Brothers, Pernod Ricard, and Diageo are among the top beneficiaries. These brands have experienced double-digit sales growth in the Asian Market.
Notably, Chivas Brothers CEO Jean-Etienne Gourgues highlighted the extent of its marketing efforts. The company has worked with Chinese wedding planners to introduce new rituals into the marriage itineraries. One such ‘new tradition’ sees brides and grooms sharing mouth-to-mouth whisky brandish.
Asian Scotch Whisky Consumption Growth
In addition, both Pernod and Diageo have invested millions into education propaganda in a bid to win over Asian consumers. It has paid off. This year, according to the SWA, 6 out of 10 export destination was Asian.
“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,” said Bloomberg Intelligence analyst Duncan Fox.
This is supported by the fiscal year report from Pernod Ricard. The company indicated Scotch whisky sales increased by 17% reaching a 10-year high. Asia was by far the biggest contributor to this growth, passing 21% in regional sales.
Furthermore, Chivas sales report saw an increase in its luxrious spirits. Whiskies from this brand are worth tens of thousands. Nonetheless, the distillery showed a sales increase of 32%, mostly driven by Asian consumption.
Moreover, Diageo manifested that Asian consumers are willing to pay more for less volume. It its sales report of its world famous Johnnie Walker, there were only a 2% increase in Asian exports. At the same time sales volume rose 7%.
As the world Scotch whisky producers get ready for the new yaer, 2024, all eyes will be on Asia. Soon it will become the world.s top whisky consumer.
