Global sales of spirits priced at US$100 or more a bottle fell 10% in value in 2025, the second straight annual decline, according to IWSR.

TL;DR

  • IWSR says status spirits (US$100+ per bottle) fell 10% in value in 2025, after an 8% fall in 2024.
  • China fell 25%, the US 6% and duty free 3%; Scotch slipped 9% and Cognac 17%, while agave spirits rose 2%.
  • IWSR says buyers are becoming more discerning, rewarding proven scarcity, age statements and provenance.

Who is IWSR and what did it measure?

IWSR is a drinks market data and analysis firm. In an insight published on 1 October 2026 by analyst Helen Jagger, it defines status spirits as bottles retailing at US$100 or more and reports that their global value fell 10% in 2025. A year earlier, IWSR reported an 8% fall in 2024, which The Drinks Business put at nearly US$1 billion in lost value.

Which markets and categories fell furthest?

By region, China fell 25% in 2025, the US 6% and duty free 3%. By category, Cognac dropped 17% and Scotch 9%, while agave spirits rose 2%. For context, IWSR's 2024 figures showed China down 28% and Scotch holding a 38% share of the status category, making it the largest by that measure.

What are status buyers rewarding now?

IWSR lists four levers. First, genuine scarcity rather than manufactured limited editions. Second, age statements as a trust marker: status Scotch releases without age statements have declined while 18-year-old expressions have risen. Third, experiential access, including distillery engagement and cask networks. Fourth, provenance over heritage, with producers from India, Taiwan, South Korea and Australia commanding premium prices. IWSR's summary is that buyers are not walking away from status spirits but are more discerning.

Why does it matter for Asian whisky buyers?

China is the region where the steepest fall was recorded, so the data speaks directly to Asian demand. It also describes the traits that cask and rare-bottle buyers in Singapore, Hong Kong and Bangkok already weigh: age, scarcity and provenance. The report covers bottle sales, not casks, so it does not price casks. Readers tracking the Scotch duty decision in the UK Budget on 28 October, Sullivans Cove's push into seven Asian markets, or Japanese whisky's duty-free gains, all covered earlier on Whisky Bulletin, can use it as a demand backdrop. This is market information, not investment advice.

What is not confirmed?

We reviewed IWSR's published insight, not its underlying study data. The insight does not give cask prices, a 2026 forecast or a figure for Asia as a whole.

Frequently Asked Questions

What counts as a status spirit?

IWSR defines status spirits as bottles retailing at US$100 or more.

Did Scotch fall more than other categories?

Scotch fell 9% in 2025, less than Cognac at 17%, while agave spirits rose 2%, per IWSR.

Does this mean whisky casks lost value?

Not on this evidence. The IWSR figures measure the value of premium bottle sales, not cask valuations. Anyone assessing a cask should seek independent valuation and professional advice.

Sources and Method

Primary source: IWSR, Spending smart: four ways to attract status spirits buyers, 1 October 2026, https://www.theiwsr.com/insight/spending-smart-four-ways-to-attract-status-spirits-buyers/ . Independent corroboration of the prior-year baseline: The Drinks Business, 27 October 2025, https://www.thedrinksbusiness.com/2025/10/status-spirits-market-hit-by-us1bn-slump-but-recovery-expected/ . This article is an original rewrite by Whisky Bulletin from those sources; figures are IWSR's.