Surpassing £1 billion in export value, Single Malt Scotch whiskey now belongs to a class of its own in the beverages space. 2016 saw the market grow by 12%, with over 113 million Single Malt bottles leaving domestic shores to locations worldwide. Impressed by these numbers, the Scotch Whiskey Association (SWA) dubbed Single Malt Scotch as “the stand-out performer” with an export volume increment of 10% and shipment value spike to 11.8%.
The Single Malt market is expanding faster than Scotch, witnessing a steep rise of 4% in 2016. Out of all Scotch whisky exports, Single Malt contributed only 9.3% but accounted for more than 26% of the total value.
The primary source of sales growth was the United States, accounting for an overwhelming £48 million worth of shipments. While demand continues to be strong in mature markets, fertile terrains such as China are showing considerable promise too.
Presently, there are 14 operational distilleries in the United Kingdom with 40 still in the planning stages. Very soon, however, a new stream of suppliers and distillers will enter the fray.
The acting chief executive at SWA, Julie Hesketh-Laird said, “With Scotch Whisky exports returning to growth and rising to more than £4 billion, and Single Malts exceeding £1 billion for the first time, we’re feeling optimistic about the future.”
Although the Scottish whisky markets have faced supply shortages in the past due to the rise in global demand, the situation is poised to change for the better. Julie believes that numerous producers are ready to meet the ever-growing demand of Single Malt Scotch.
Already, up from 174, scotch was exported across 182 countries last year. Among all the categories, bottle blended scotch whiskey witnessed the highest increase, accounting for 69% of all scotches exported last year.