Despite all this, however, there is reason for optimism when it comes to the state of the global Whisky industry moving forward into 2022 and beyond!
First off, we’ve seen demand continue rising strongly over recent years despite these challenges due to strong cultural ties between Scotland and emerging markets such as China and Brazil where export volume increased significantly over the last decade: something we hope will continue given that these markets are the two top places the Scotch Whisky industry is currently developing.
Secondly, we should remember that even though Brexit might make things more difficult in regards to tariffs and trade regulations, it’s certainly not going away any time soon: meaning consumers who like a dram will still want their fix!
With this in mind and with demand expected to grow worldwide (albeit at a slower rate), there is no doubt that whisky producers from across Scotland have been working hard behind-the-scenes already crafting new ways of reaching out further to overseas markets as well as finding innovative alternatives for those exports affected by existing tariff regulations.
If we look at export figures for China for 2010, we can see they only imported a value of £3,404,136 in whisky, meaning they didn’t break the top ten in terms of importers.
However, if we fast forward to 2020, that value has increased to £66,378,387, which has catapulted China to the fourth-largest importer of Scottish produced whisky.
The rapid growth of the Chinese market is a good example of the increasing importance of Asian markets to whisky manufactures.
While the export figures to the United States do show a significant downturn compared to 2019, exports to other highly competitive markets, such as Taiwan only show margin decreases, almost certainly due to supply chain conditions.
Year on year exports to Taiwan fell to £120,155,247 from £125,960,716 in 2019.
However, during the same period, exports to China increased from £46,570,585 to £66,378,387 and exports to Singapore increased from £84,656,096 to £96,754,990, indicating a continued and increasing demand for high-end Scottish whisky in these markets.