LONDON--(BUSINESS WIRE)--Technavio has announced the top five leading vendors in their recent global single malt whiskey market report. This research report also lists six other prominent vendors that are expected to impact the market during the forecast period.
One of the factors driving the growth of the market is the new product launches in the market. In today's competitive world, the product life cycle is getting shorter, and the players in the market are under pressure to come up with new products to remain competitive and also to satisfy the increasing consumer needs. However, in single malt whiskeys, the main reason is the unavailability of aged Scotch whisky. So, many players are launching new products to gain an advantage and to be more competitive.
In November 2015, Puni Distillery launched two single malt whiskies under the brand names Puni Nova and Puni Alba. The company claims that these products are Italy's first single malt whiskies.
Competitive vendor landscape
The food and beverage industry is subject to rapidly changing consumer demands and preferences. Vendor performance in the global single malt whiskey market may be affected by changing consumer spending patterns. It may also be affected by consumer tastes; regional, national, and local economic conditions; and demographic trends. Changing economic conditions are affecting customers’ living standards and could also affect a vendor's business.
“The global single malt market is highly fragmented because of the presence of numerous small and large vendors. The vendors in the market compete based on many factors such as price, quality, innovation, service, reputation, distribution, and promotion. An increase in competition may lead to vendors reducing their product prices, which could negatively affect their profit margin and market growth,” says Manjunath Reddy, a lead alcoholic beverages analyst from Technavio.
Intense competition among vendors coupled with rapid technological changes constitutes a significant risk to vendor operations. Intense competition among vendors has led to the industry witnessing an increased number of M&A, where smaller entities are being acquired by, or are being merged with, major players. The influx of private labels in the market is also on the rise.
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Top five single malt whiskey market vendors
Bacardi
Bacardi is a privately held spirits company. It is an alcoholic beverages company that produces and markets a wide range of spirits and wines. The company has more than 200 brands and labels.
Some of the major subsidiaries of the company are Bacardi-Martini Austria, Bacardi-Martini Finland, Bacardi-Martini Germany, Bacardi-Martini Japan, Bacardi USA, Bacardi Netherlands, and Bacardi-Martini Belgium.
Beam Suntory
In May FY2014, Suntory acquired Beam Inc. and changed its name to Beam Suntory Inc. The company is a manufacturer and retailer of distilled spirits products in the global market. It stands third in the global market in the premium spirits segment. It functions through various business models to sell and distribute its products in the market; in the US, it retails its products through wholesale distributors to the reseller and the retails outlets. The company functions in both alcoholic and non-alcoholic segments.
Brown-Forman
Brown-Forman is one of the leading alcoholic beverage manufacturers in the US. The company is engaged in manufacturing, bottling, marketing, importing, and exporting a wide variety of alcoholic beverage brands. It offers various alcoholic beverage brands and a fair range of wine and spirits products to its customers worldwide.
Diageo
Diageo offers a wide range of alcohol beverages that comprise spirits (brandy, cognac, gin, liqueurs, rum, tequila, schnapps, spirit drinks, vodka, whiskey, beer, and wine). It sells its products under the brand names Pampero Rum, Zacapa Rum, Justerini & Brooks, Vignobles Internationaux, Piat d'Or, Rosenblum Cellars, Justerini & Brooks, Vignobles Internationaux, Piat d'Or, Rosenblum Cellars, Smirnoff, Guinness, Harp Lager, Archers, and Pimm's.
Pernod Ricard
Pernod Ricard produces distilled beverages. It manufactures and sells spirits and wines worldwide. It offers vodka, rum, gin, champagne, bitter, brandy, digestif, spirit, cognac, liqueur, tequila, malt whiskey, anise flavoring spirit, and aperitif products.
Browse Related Reports:
- Global Whiskey Market 2016-2020
- Global American Whiskey Market 2016-2020
- Global Alcoholic Drinks Market 2016-2020
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Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
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