"Dynamic" Growth in Asia Fuels Malt's Sustained Progress Says New Research

The malt whisky sector grew by 46.7% between 2003 and 2012, according to a new report from just-drinks and The IWSR, hitting a record high in 2012 of 7.8m cases, fuelled by strong growth in Asia.

The report, entitled 'Global market review of malt whisky - forecasts to 2018', shows that Asia has seen a "very dynamic" compound annual growth rate (CAGR) of 20.2%, reaching around 1.5m cases in 2012. While most of that growth came from Taiwan, the report adds that most countries in the Asia region are experiencing "healthy growth". Taiwan overtook France in 2012 to become the second-largest market for malt.

Another key driver for the malt sector has been the Travel Retail market, which has grown its share of the category from 12% in 2003 to 15% in 2012. Travel Retail sales in value terms reached US$447.7m in 2012.

Growth has also been strong in the Americas. North America has registered a "very healthy" 6.3% CAGR over the last ten years, according to the report. In 2012, the US was the largest malt market in the world at 1.4m cases, representing a rise of almost 12% from 2011.

The US is also the largest individual market in retail value terms (including excise duties), with a 15.5% share in 2012. The US malt category’s retail value sales climbed from US$272.5m in 2003 to just under US$613m in 2012.

Overall, the global malt market expanded at a CAGR of 7% between 2007 and 2012 in retail value terms (including excise taxes and duties) to reach US$3.95bn.

Europe is the largest region by retail value with a 38% share, followed by Asia Pacific at 22%, the Americas at 21% and travel retail at 11.3%.

However, Europe’s share of the global market has fallen from almost 60% in 2003. Most of this decline can be attributed to softening sales in Southern Europe as a result of the economic crisis.

Italy, Spain and Greece have all seen sharp declines, the report states.
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