IWSR, the drinks market data firm, says global whisky grew only about 1% in volume and 2% in value in 2025, with Indian, Irish and other whisky driving growth while Scotch, American and Japanese whisky all lost volume.

TL;DR

  • IWSR reports global whisky volume up about 1% and value up about 2% in 2025, with growth narrowed to one or two price tiers in most categories.
  • Scotch volume fell 2% while value rose 2%, and India grew 5% in Scotch volume.
  • IWSR does not give an Asia-Pacific total in the part of the report we could read, so regional conclusions need care.

What did IWSR say about global whisky in 2025?

IWSR is a market research firm that tracks beverage alcohol sales worldwide. In an insight published on 29 October 2026 by Helen Jagger, it reported that headline whisky figures hide sharply different trends by segment. Most sub-categories now see growth in only one or two price tiers. IWSR Managing Director and President Marten Lodewijks said growth in whisky is currently being driven by Indian, Irish and other whisky. Scotch, American and Japanese whisky all lost volume in 2025.

How did Scotch perform, and where is it still growing?

IWSR puts Scotch volume down 2% and value up 2%. Premium was the only significant price tier to grow globally, with volume up 1%, while standard Scotch was flat. IWSR describes structural decline and widespread downtrading in mature markets. Growth markets named include Turkiye (volume up 12%), Ukraine (up 23%), Venezuela (up 21%) and India (up 5%, with double-digit gains in India travel retail). Brazil, Colombia and Malaysia returned to growth after declines in 2024.

What does it mean for Asia and India?

Malaysia and India are the only Asian Scotch markets named in the part of the insight we could read. IWSR does not discuss China, Japan's domestic market or Asia-Pacific as a whole there, so this article does not draw a regional total.

India matters because of its size and its mix of imports. Earlier IWSR data, reported by Food Business Middle East on 20 June 2026, showed imported Scotch in India growing 5% in 2025 against 6% in 2024. Irish whiskey growth eased to 21% from 58%, Japanese whisky volume rose 7% against 17%, and American whiskey grew 1%. Diageo India's Amitabh Pande called the slowdown a normalisation after an exceptional post-pandemic period. Trade policy is also in play: Whisky Bulletin has tracked the India bulk Scotch tariff question at https://whiskybulletin.com/india-signals-it-will-honour-the-75-tariff-on-bulk-scotch-what-asian-whisky-investors-should-watch/ and Japan's import figures at https://whiskybulletin.com/japans-whisky-imports-fell-in-volume-in-2025-but-reached-70-2-billion-yen-what-apac-collectors-should-note/

Why does it matter for cask investors and collectors?

Cask and collectible values depend on long-run demand for aged whisky. IWSR's picture is of a market where only some price tiers are growing, which suggests selectivity matters more than a rising tide. For Asian buyers, premium Scotch growing while standard Scotch is flat is one data point to weigh alongside auction prices, duty changes and the age and quality of the stock being offered. This is market context, not investment advice, and Whisky Bulletin cannot say how IWSR's trends will translate into cask prices.

What is not confirmed?

We could read only part of the IWSR insight, which is partly gated, and the footnote explaining the value metric was not visible. IWSR did not give 2025 volume or value figures for Irish whiskey in that excerpt, and the Indian import data above is IWSR's own, reported second-hand. We found no independent dataset that confirms the global totals.

Frequently Asked Questions

Did Scotch whisky grow in 2025?

Per IWSR, Scotch volume fell 2% and value rose 2%, with premium the only significant price tier to grow globally.

Which whisky categories drove growth?

IWSR says Indian, Irish and other whisky drove growth, while Scotch, American and Japanese whisky lost volume.

Is India still a growth market for Scotch?

Yes, but more slowly. IWSR data reported in June put imported Scotch growth in India at 5% in 2025, down from 6% in 2024.

Sources and Method

Primary source: IWSR, Premiumisation polarises as whisky growth narrows, by Helen Jagger, 29 October 2026, https://www.theiwsr.com/insight/premiumisation-polarises-as-whisky-growth-narrows/. Supporting: Food Business Middle East, Imported whisky growth slows in India as premium spirits boom cools, 20 June 2026, https://www.foodbusinessmea.com/?p=2160575. This article was written from the verified notes above, with opinions and forecasts attributed to IWSR. It is not financial advice.