Millennials have a reputation for ruining some industries, but Irish Whiskey is not one of them. In fact, Irish whiskey has seen an increase in sales in the United States and this is largely attributed to millennials.

Some Figures

In 2018, sales of Irish whiskey in the United States grew an impressive 9.4 percent over the previous year. In fact, over the past five years, Irish whiskey’s sale volume in the country increased by 61 percent, based on information from the Irish Food Board. This translated into distillers earning revenue of around $1 billion. The contribution of Irish whiskey has led to spirits taking more market shares from beer despite struggles to adapt to new customer tastes. 2018 was the ninth year in a row that spirits took beer’s market share.

Why Millennials Drive the Growth

According to the chief economist for the Distilled Spirits Council, David Ozgo, part of the reason that millennials are driving sales of Irish whiskey is that this market segment is willing to spend extra money if the alcohol is higher quality. Additionally, cocktails that include Irish whiskey have been growing in popularity. This is typically supplemented by the bars selling Irish whiskey trying to educate clients on the spirit and how it differs from other whiskeys and spirits.

The Irish Whiskey Market Overall

While Irish whiskey is growing in the United States as well as several other countries, it still accounts for a small amount of all spirits sold. In pure case volume, Irish whiskey only represents under 3 percent. Spirits are, however, working to increase that percentage via marketing pushes. Jameson is still the market leader for Irish whiskey but more and more distilleries are entering the field. In 2013, Ireland only had three distilleries. The Irish Food Board reports that now there are a total of 18 with an additional eight in progress.

Source:

https://www.cnbc.com/2019/03/15/irish-whiskey-continues-to-thrive-in-the-us-thanks-to-millennials.html

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