The alcoholic beverage industry has witnessed a dramatic transition in terms of sales over the past few years. American whiskey is one of the most preferred type of beverage among the consumers. American whiskey is a form of distilled beverage predominantly manufactured in the U.S. from fermented mash of cereal grain. All types of American whiskey are made from mashes with approximately 51% of their named grains.
Rapid urbanization is one of the key factors pushing the demand for American whiskey, especially in the developing countries such as India. Purchasing power coupled with transition in the lifestyle of the consumers, especially the young population has shown a positive impact on the growth of this market. The young population is more incline towards the consumption of expensive alcoholic beverages, whiskey being the preferred choice among the other types of beverages. Statistics show that India is the largest consumer of whiskey, consuming 1.5 Bn Liters during the period of 2014-2015, overtaking the U.S., which stood at 462 Mn Liters during the same period. American whiskey has posed as upcoming preferred choice among the consumers, due to their increasing purchasing power.
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Social acceptance of alcohol among the consumers is another major factor pushing the demand for this market. Alcoholic beverages have been accepted among the mass as a social drink, therefore allowing more consumers to shift their inclination towards such beverages as social drink over their non alcoholic counterpart.
However, this market faces stiff challenge from the consumers who refrain themselves for consuming alcohol. Health conscious consumers are a restraint to the growth of this market. The impact of this restraint is expected to be medium throughout the forecast period. Further, internal threats are another major restraint for the American whiskey market. Consumer preference for other types of alcoholic beverages is widespread. The consumption of vodka and rum among others is almost at par with whiskey in some countries. Therefore the impact of this restraint is expected to remain medium throughout the forecast period.
Strengthening economic condition of the underdeveloped and developing countries along with expansion by the manufacturers operating in this industry is expected to pose as a suitable opportunity for the growth of this market in the future.
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