Scotch whisky producers are reporting that their product is seeing increasing demand in spite of global economic conditions. In a time when many other industries are struggling, Scotch whisky sales have remained strong.
This is due in part to the growing popularity of Scotch whisky among Asian consumers. Producers say that they are seeing particular growth in China and South Korea. The demand for Scotch whisky in these countries is helping to offset declining sales in Europe.
Scotch whisky producers are optimistic about the future, and believe that their product will continue to see strong demand around the world. They are investing heavily in new production facilities and marketing initiatives in order to capitalize on this growth.
Why is whisky doing so well?
There are a range of reasons for the strong performance of Scotch whisky. Firstly, it is seen as a premium product and therefore commands high prices. This makes it less susceptible to economic downturns than other types of alcohol.
Scotch whisky is also benefiting from changing consumer habits. More people are drinking at home rather than going out to bars and clubs, and they are willing to spend more on premium products. This trend is being driven by millennials, who are the largest group of whisky drinkers.
Finally, the Scotch whisky industry is very well-organized and has been investing heavily in marketing initiatives in recent years. These efforts are paying off, as Scotch whisky is now the fastest-growing type of alcohol in the world.
In fact, Scotch whisky has done so well that it is the primary driver of an almost 20 per cent in UK drinks exports to £7.6bn in the year.
The importance of the secondary market
Scotch whisky has shown itself to be a very resilient product in recent years, and the secondary market is one of the key reasons for this. The secondary market is made up of all the bottles of Scotch that are sold after they have been produced, and it is a vital part of the industry.
The secondary market provides a way for collectors and investors to buy rare and old bottles of Scotch, which can be worth a great deal of money.
Auction houses and specialist retailers are the main places to buy Scotch on the secondary market, and it is a thriving industry. In 2019, there was a record-breaking sale of a bottle of whisky at auction, with a bottle of Macallan 1926 Fine and Rare selling for £1.2 million.
The strength of the secondary market has helped to offset some of the challenges that the Scotch whisky industry has faced in recent years, including Brexit and the US-China trade war.
The future looks bright for Scotch whisky, with sales expected to continue to grow in the next few years. Thanks to the secondary market, collectors and investors will be able to enjoy rare and old bottles of Scotch whisky for years to come.
Scotch whisky is one of the most popular drinks in the world, and it shows no signs of slowing down. With a thriving secondary market and strong sales, the future looks bright for this iconic spirit.
Why does whisky make such a good investment?
There are a couple of reasons that fine and rare whisky has become such a desirable commodity for investors.
First, the global market for whisky has been growing steadily for many years, thanks to the rise of Asia as a major economic power. As more and more people in countries like China and India can afford to buy luxury goods, they are increasingly turning to Scotch whisky as a status symbol.
Second, the pool of potential investors is relatively small. Unlike wine, which has a huge global market, there are only a handful of major players in the world of fine whisky. This means that prices are less likely to fluctuate wildly, making it a more stable investment.
There is a limited supply of top-quality whisky, since it takes many years to produce. This combination of strong demand and limited supply has led to some record-breaking prices being paid for rare bottlings in recent years.
If you’re thinking of investing in Scotch whisky, now could be a good time to do it. The market might not be as strong as it was a few years ago, but it’s still showing surprising resilience in the face of economic uncertainty.
Invest with advice from the experts
VCL Vintners is a team of professional whisky investors, providing guidance and support to those thinking of investing in whisky. We can help you find the right bottles to invest in, and offer advice on how to store and sell your whisky portfolio. Contact us today to find out more.