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What’s in for the Scotch Industry in 2016?
Scotch exports struggled for the last 3 years, so the recent claim of Scotch Whisky Association (SWA) that they will be a return to growth is a very welcoming news for the industry.
For the first half of 2015, exports decreased 3% in value compared to the 11% drop in the same period last year. The volume of Scotch production also fell 3% as opposed to 6% in 2014. Premium blends and single malts, on the other hand, did great as they have increased in value by 5%.
The SWA chief executive David Frost said, “We’re starting to see some strong signals for growth and we continue to believe the long-term prospects for Scotch whisky remain good.”
Innovation is Key
In order to maintain growth, innovation and premiumization are major driving forces. Beam Suntory, a Scotch producer of fine spirits, produces other international whiskies. Gareth Brown, their senior director, said, “YTD, we are seeing global volumes up over 15% year on year, which is significantly ahead of the category and a great platform from which to grow.”
According to recent data, peated malt is growing twice as fast as the single malt. Among the factors that drive the trend is a consumer’s inclination to try something new, says Brown.
Chivas Brothers’ single malts global brand director, Nikki Burgees, predicts a bright future for the sector stating that France, Germany, and US are the key markets.
“We envisage the growing trend of whisky fans demanding new and innovative styles of single malt will really come to the fore, with distillers crafting even more adventurous whiskies to enjoy,” Nikki said.
As Scotch producers looking to increase production and celebrate their sales, here are some of the brands that you should keep an eye on next year.
House of Hazelwood
William Grant & Son’s House of Hazelwood was unveiled during this year’s TFWA World Exhibition & Conference in Cannes. The global planning and innovation director of William Grant, Damien Heary, said that its introduction is an exciting chapter in the category. What once was a travel retail exclusive, the House of Hazelwood will be released in the domestic market in 2016.
According to a data from the Brand Champions 5, La Martiniquaise-owned blended Scotch brand Label 5 is the 9th best selling whisky around the world. However, the new “Whisky Confidential” multi-channel global marketing campaign and significant production expansion is set to ramp up their rankings.
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