The Thailand market accounts for nearly 5% of the Asian whiskey market size. The market registered a compound annual growth rate (CAGR) of -4.0% during 2017-22 and 2% growth over 2021. According to GlobalData’s deep-dive analysis report, Thailand whiskey market databook, other whisk(e)y accounted for a notable share of 74% among various whiskey segments in the market in 2022, followed by scotch whisky. The report also provides in-depth analysis and market forecast to 2027. Buy the report here.
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According to GlobalData’s company and brand analysis, Thai Beverage, Suntory and Diageo held significant shares in the Thailand whiskey market in 2022. Concurrently, Blend 285, Crown 99 and Jim Beam led in terms of brand market share. Thai Beverage had the leading market share by volume in 2022. Companies operating in the Thailand whiskey market continue to use innovation to target gaps in product offering. Continuous tracking of market size and company performance is important to help competitors capture and maximize profits.
GlobalData’s channel analysis reveals that food & drinks specialists were the key channel of purchase for whiskey, along with on trade. Also, convenience stores recorded a notable growth during the COVID-19 pandemic, as consumers were forced to stay at home due to restricted movement opportunities.
Food & drinks specialists constituted the highest market share by volume in 2022. Consumers preferred this channel for its product assortment and competitive pricing. On trade was the next preferred channel in the Thailand market.
Among the top Asian markets, India accounted for the highest volume share in 2022, followed by South Korea, Singapore, Thailand, Japan, and China.
With a growing number of consumers seeking to experiment with novel products, manufacturers and brands need to constantly innovate their flavours and formulations to remain relevant and competitive. Additionally, the popularity of e-commerce has made it easier for shoppers to compare product features and offerings across different brands.
To further understand and explore GlobalData’s insight into the whiskey category and market forecast to 2027, buy the report here.
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