The whisky market will be worth more than £2.4 billion by 2022 as Scotch sales increase, according to forecasts by Edrington-Beam Suntory UK.
The Glasgow-based spirits specialist predicts that the whisky sector will grow by £138 million in value in the coming three years, representing 6 per cent growth over the period.
Single malt is set to be a key driver, with an estimated £45m rise to £439m in 2022 on the back of new “accessibly priced” single malts and the closing price gap between these and blended whiskies.
MD Mark Riley said: “Our forecast is that Scotch single malt and American whiskies will drive future growth, continuing to attract new consumers to the whisky category and successfully appealing to existing customers with new expressions.
“Both are seeing customers trade-up as they explore the categories, which is supporting the increase in the value and volume of sales.”
He described the drink as “one of the most diverse and dynamic” spirits.