The Artisanal Spirits Company launches Taiwan Subsidary
The Artisanal Spirits Company has successfully launched a new subsidiary in Taiwan. The group which operates the Scotch Malt Whisky Society, continues its Asian expansion project.
The SMWS has long sought better trading options within the Taiwanese market. In the past, it relied on third-party agreements and distribution umbrellas. However, the new subsidiary grants it direct access to the humongous market.
According to estimates published by the International Wine & Spirit Research (IWSR), Taiwan has the third largest Scotch whisky market in the world. It has an addressable market value of US$593 million for ultra-premium Scotch whisky.
Taiwan Scotch Whisky Demand Is Insatiatiable
Moreover, in a 2022 press conference, the association boasted of its achievements saying:
“We now have an SMWS presence in the world’s six largest markets and our full global footprint giving us coverage of over 80% of the $8.1 billion Ultra-Premium Scotch Whisky Market (2022 IWSR).”
However, a recent report published by Polaris Market Research, the worldwide whisky market is set to reach $146.15 billion by 2030. The market which is recovering from the pandemic is expected to see a 7.5% (CAGR). The news is equally positive from Taiwan
In addition, a report published by the USDA showed strong growth in the post-pandemic Taiwanese whisky market. According to the report, the country imported $553 million in whisky in 2021, up 19%. An incredible 92% were Scotch whisky.
The Taiwan whisky community continues to express an insatiable appetite for Scotch whisky and the SMWS intends to capitalize on this. Andrew Dane, CEO of The Artisanal Spirits Company said that Taiwan is “one of the world’s largest and most sophisticated whisky markets…. and our key strategic objective this year”.
The company is already trading under the new agreement and it aims to use all marketing avenues to push its brands. The plans to offer retail, store, travel retail, and its online store.
The Artisanal Spirits Company (ASC) was founded in 1983 and is located in Edinburgh.
