Agriculture & Food

The Spanish website recently reported that Scotch whisky does not appear to be affected by the coronavirus pandemic, nor by Brexit and the supply chain crisis. Not only has it successfully weathered all the challenges, it has also attracted a lot of investment in recent times. The UK’s top five producers have the highest number of distilleries since World War II. After slumping to a 10-year low in 2020, 2021 is an encouraging year, thanks to strong growth in international trade regions such as Latin America and Asia Pacific.

According to the report, today Scotch whisky has become a global product with more than 180 international trade export markets. According to industry body the Scotch Whisky Association (SWA), the product will account for 75% of Scottish food and drink exports in 2021 and 22% of total UK food and drink exports. The Scotch whisky industry contributes around $6.6 billion in gross value added to the UK economy.

The report noted that data from the Scotch Whisky Association shows that international trade exports of Scotch whisky are expected to recover to the level of $6 billion in 2019, reaching $2.6 billion at the end of May.

According to the report, the data in the future is more encouraging. According to a report by the US-based consultancy Global Market Insights, the international trade market for Scotch whisky is estimated to be worth $33 billion by 2027, with a compound annual growth rate of 6.7% during this period.

The report pointed out that the growing demand for international trade in emerging markets such as the Asia-Pacific region, the United States, Latin America and India is the main reason for this trend.