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The Big Whisky Opportunity in India 🚨 India has become Pernod Ricard's largest market by volume, driven by premiumisation, rising incomes and the success of Royal Stag, now the world's largest-selling whisky brand. In an exclusive conversation with Fortune India, CEO Jean Touboul shares how the company plans to sustain growth through innovation, consumer insights and the opportunities unlocked by the India-UK FTA. #PernodRicard #RoyalStag #Whisky #Premiumisation #IndiaUKFTA #FortuneIndia

When Kavalan Distillery opened in Taiwan in 2005, few expected the young distillery to challenge some of Scotland’s most established whisky producers. Yet within a decade, Kavalan had become one of the most respected names in global whisky, winning international awards and redefining expectations about what could be achieved outside traditional whisky-producing countries. The latest recognition from the Beverage Testing Institute (BevTest) World Whisky Judging reinforces Kavalan’s position among the world’s elite whisky producers. Five expressions earned Platinum Medal–Superlative honors, scoring 96 points or higher, led by the Kavalan Solist Ex-Bourbon Single Cask Strength Single Malt Whisky, which achieved an extraordinary 98 points. The winning whiskies showcase the diversity of Kavalan’s approach—from bourbon maturation that highlights tropical fruit and vanilla richness to rare sherry cask expressions that deliver extraordinary depth and complexity. Below are brief backgrounds on the BevTest Platinum medalists, along with my tasting notes. The Kavalan Solist Whisky Series: Precision, Power, and Individuality The Kavalan Solist Series represents the pinnacle of the distillery’s single malt portfolio. The word Solist is derived from "soloist," expressing the idea that each whisky is a unique individual performance rather than a blend designed to achieve consistency across multiple casks. Unlike standard releases, Solist whiskies are: - Single cask expressions—each bottle comes from one individual cask. - Cask strength bottlings—the whisky is bottled at its natural strength without dilution. - Non-chill filtered—preserving natural oils and flavor compounds. - Individually numbered—each bottle identifies its specific cask and bottling details. The series was created to showcase the influence of individual cask types and Taiwan’s unique maturation environment. Taiwan’s subtropical climate dramatically accelerates whisky maturation compared with cooler climates such as Scotland's. Greater temperature variation causes whisky to expand and contract more frequently within the wood, increasing interaction between spirit and cask. This accelerated maturation does not simply make whisky mature faster—it creates a distinct style defined by intense fruit expression, rich texture, and pronounced oak influences. Kavalan’s success also reflects the vision of its founder, T.T. Lee, who intended to create a world-class Taiwanese whisky using local expertise, advanced distillation technology, and carefully selected casks. The distillery is located in Yilan County, where mountain water, humid conditions, and innovative production techniques contribute to the distinctive Kavalan house style. Kavalan Solist Ex-Bourbon Single Cask Strength Single Malt Whisky, 54.8% ABV, 750 ml. 98 Points, Platinum Medal–Superlative The Solist Ex-Bourbon represents one of Kavalan’s most iconic expressions and demonstrates the extraordinary compatibility between Taiwanese whisky and first-fill American oak bourbon barrels. Matured entirely in carefully selected ex-bourbon casks, it accentuates the natural sweetness of vanilla, tropical fruit, and coconut that emerge from both the wood and Kavalan’s spirit character. This expression captures the essence of Kavalan’s tropical maturation style: intense, elegant, and remarkably expressive despite its youth compared with many traditional-aged whiskies. The whisky features intense tropical fruit aromas of mango, pineapple, ripe banana, vanilla custard, coconut cream, honey, citrus zest, and fresh oak. Additional layers of crème brûlée, caramel, toasted coconut, and delicate floral notes emerge with time in the glass. It’s rich, creamy, and exceptionally viscous on the palate. The natural cask strength creates a powerful yet refined mouthfeel, with waves of tropical fruit balanced by silky vanilla sweetness and seasoned oak. It showcases flavors of mango, pineapple, passion fruit, vanilla, caramel, butterscotch, toasted almonds, coconut, and sweet malt. The bourbon cask influence contributes elegant spice, cinnamon, and soft oak tannins. The finish is exceptionally long and warming, with lingering tropical fruit, vanilla cream, caramelized oak, coconut, and subtle spice. The BevTest Judging Panel described the whisky as featuring “aromas of polished woods, butter roasted nuts and coconut flakes, and leather, along with flavors of orange spice cake soaked in brandy, mango chutney on pistachio muffin, and coconut creme brûlée with mint tea. A powerfully delicious, epic single malt with a cornucopia of lavish fruit, spice, and mineral flavors that continue to evolve in the glass; try with a bit of pure water." Kavalan Solist Amontillado Sherry Single Cask Strength Single Malt Whisky, 55.6% ABV, 750 ml. 97 Points, Platinum Medal–Superlative The Solist Amontillado Sherry expression showcases Kavalan’s mastery of sophisticated sherry cask maturation. Amontillado sherry casks occupy a unique position between the lighter freshness of fino and the richer sweetness of oloroso, delivering a balance of nutty complexity, dried fruit, and elegant oxidative character. This whisky demonstrates how Kavalan uses specialized casks to create depth and a layered complexity whilst preserving the fruit character of its underlying spirit. The whisky features aromas of roasted almonds, walnuts, dried apricots, orange peel, raisins, vanilla, dark honey, and seasoned oak. Subtle notes of leather, baking spices, and toasted grains add complexity. It’s smooth and full-bodied on the palate. The texture is rich but refined, carrying layers of dried fruit and nutty sherry influences without becoming heavy. It showcases flavors of dried figs, dates, toasted nuts, orange marmalade, dark chocolate, cinnamon, caramel, and espresso, alongside Kavalan’s signature tropical fruit notes. The finish is long and layered, with lingering notes of dried fruit, almonds, cocoa, spice, and a gentle oak dryness. The BevTest Judging Panel described the whisky as featuring “aromas of coffee stout, balsamic vinegar, and rose water, along with flavors of PX Sherry, caramelized fruits, and smoked peppercorns. A bold and densely packed barrel finished cask strength whisky that needs a few drops of water to open up nicely; an impressive nightcap sipper for Sherry lovers." Kavalan Podium Single Malt Whisky, 46% ABV, 750 ml. 96 Points, Platinum Medal–Superlative The Kavalan Podium Single Malt represents one of the distillery’s flagship expressions. Named to evoke the highest level of achievement, Podium showcases Kavalan’s classic house style through a carefully selected combination of refill and fresh American oak casks. It stresses balance and elegance rather than the intensity associated with many Solist bottlings. The whisky features aromas of fresh tropical fruits, green apple, pear, vanilla, floral honey, coconut, and seasoned oak. It’s smooth, silky, and nicely balanced on the palate, showcasing flavors of pear, mango, vanilla cream, honey, toasted coconut, citrus peel, caramel, and gentle spice, combined with a delicate malt sweetness. The finish is medium-to-long and sweet, with lingering notes of vanilla, orchard fruit, seasoned oak, and subtle warming spices. The BevTest Judging Panel described the whisky as featuring “aromas of wildflower honey, pecan cookie, and dates, along with flavors of caramelized pineapple, candied bacon, and sherry. Wildly complex and satisfying the textured, spiced, caramelized and rich flavors of this whiskey one normally only finds in barrel proof bottlings, decadence at a most reasonable proof." Kavalan Master’s Select Reserve No. 2 Single Malt Whisky, 40% ABV, 750 ml. 96 Points, Platinum Medal–Superlative The Master’s Select Reserve No. 2 showcases Kavalan’s capacity to blend multiple cask influences into a highly polished expression. Unlike Solist releases, which highlight individual casks, Master’s Select whiskies emphasize the craft of marrying different m

Search across reports, market insights, and blog stories. Type at least 3 characters to see fast results. Press / or ⌘K anytime. Searching… No fast matches found. Press Enter to see full results. Jul 18, 2026 USMCA Renegotiation Adds Uncertainty for American Whiskey Industry A key trade agreement between the United States, Canada, and Mexico is set to enter a multiyear review and renegotiation process, according to a report from Yahoo Finance. The United States-Mexico-Canada Agreement (USMCA), which replaced the North American Free Trade Agreement during the first term of current U.S. President Donald Trump, was designed to establish a free trade zone over its 16-year term. The pact does not expire until 2036, but renegotiation is now scheduled amid lingering trade tensions. U.S. Trade Representative Jamieson Greer stated on July 1 that the United States will continue discussions with Mexico and Canada to address the agreement's shortcomings and trade deficits. The announcement follows a year marked by global trade disruptions, including the implementation and subsequent removal of tariffs on many countries by the Trump administration. North American trade pacts have historically benefited Kentucky bourbon and other American whiskey products, with Canada and Mexico serving as key international markets for the spirits industry. However, recent tariff disputes and retaliatory measures have already cost distillers millions of dollars in lost sales. The upcoming USMCA negotiations are expected to add further uncertainty for the sector. Michael Bilello, president and CEO of the American Whiskey Association, commented that the situation creates additional uncertainty for American whiskey, a category that relies on long-term planning and stable export access. He noted that distillers cannot adjust production based on the latest trade headlines, as barrels laid down today may not reach consumers for four, six, eight, or more years, making market certainty critical. Distillers such as Louisville-based Brown-Forman, which produces the Jack Daniels Family of Brands, Woodford Reserve, and Old Forester, are already feeling the effects of the trade environment. A Brown-Forman spokesperson expressed hope that the renegotiation will lead to the return of duty-free trade, emphasizing the need for fair and predictable market access. The spokesperson added that achieving this requires a shared commitment to preserving stable, reciprocal trade and highly integrated supply chains essential for mutual success across North America, and expressed hope that all parties will make progress toward a stable marketplace for spirits in the region. Interactive table based on the Store Companies dataset for this report. # Company Headquarters Focus Scale Note 1 Diageo London, UK Multi-brand spirits conglomerate Global leader Johnnie Walker, Lagavulin, Talisker 2 Pernod Ricard Paris, France Multi-brand spirits conglomerate Global leader Chivas Regal, Ballantine's, The Glenlivet 3 Beam Suntory Chicago, USA Multi-brand spirits conglomerate Global leader Jim Beam, Maker's Mark, Laphroaig 4 Brown-Forman Louisville, USA Spirits producer Major global Jack Daniel's, Woodford Reserve, Old Forester 5 Allied Blenders & Distillers Mumbai, India Indian whisky Massive volume Officer's Choice, Sterling Reserve 6 United Spirits Ltd (Diageo India) Bengaluru, India Indian whisky Massive volume McDowell's No.1, Royal Challenge 7 William Grant & Sons Bellshill, UK Family-owned distiller Major global Glenfiddich, Balvenie, Grant's 8 Edrington Glasgow, UK Premium single malt focus Major global The Macallan, Highland Park, The Famous Grouse 9 Sazerac Company New Orleans, USA Spirits producer & bottler Major global Buffalo Trace, Barton 1792, A. Smith Bowman 10 Radico Khaitan New Delhi, India Indian whisky & spirits Major volume 8PM, Magic Moments, Rampur Indian Single Malt 11 John Dewar & Sons (Bacardi) Glasgow, UK Blended Scotch Major global Dewar's, Aberfeldy, Aultmore 12 Kirin Holdings (Kyowa Hakko Kirin) Tokyo, Japan Beverages conglomerate Major global Owns Four Roses, Kirin Whisky 13 Whyte & Mackay (Emperador Inc.) Glasgow, UK Blended & single malt Scotch Major global Jura, Dalmore, Fettercairn 14 La Martiniquaise Paris, France Spirits producer Major European Label 5, Glen Moray, Cutty Sark 15 Emperador Inc. Makati, Philippines Spirits conglomerate Major global Owns Whyte & Mackay, Emperador brandy 16 Mohan Meakin Ghaziabad, India Indian whisky & beer Major volume Old Monk rum, Solan No.1 whisky 17 Heaven Hill Brands Bardstown, USA American whiskey Major global Evan Williams, Elijah Craig, Larceny 18 Inver House Distillers (ThaiBev) Airdrie, UK Scotch whisky producer Major Old Pulteney, anCnoc, Balblair 19 Ian Macleod Distillers Broxburn, UK Independent distiller & bottler Major Glengoyne, Tamdhu, Smokehead 20 Campari Group Milan, Italy Spirits group Major global Wild Turkey, Russell's Reserve 21 LVMH (Moët Hennessy) Paris, France Luxury conglomerate Major global Glenmorangie, Ardbeg 22 Bacardi Limited Hamilton, Bermuda Spirits conglomerate Major global Owns Dewar's, William Lawson's 23 Angostura Holdings Laventille, Trinidad & Tobago Rum & bitters, owns whisky Significant Owns whisky brands like Thomas Henry 24 Halewood Artisanal Spirits London, UK Spirits producer & distributor Significant Crabbie's, Whitley Neill, also Scotch 25 Distell Group (Heineken) Stellenbosch, South Africa Beverage group Major in Africa Bains, Three Ships, Scottish Leader 26 Asahi Group Holdings Tokyo, Japan Beverages conglomerate Major global Owns Nikka Whisky from 2014 27 The Benriach Distillery Co. (Brown-Forman) Elgin, UK Single malt Scotch Significant Benriach, Glendronach, Glenglassaugh 28 J. & G. Grant Dufftown, UK Family-owned single malt Significant Glenfarclas distillery 29 Gordon & MacPhail Elgin, UK Independent bottler & distiller Significant Owns Benromach distillery 30 Suntory Spirits Osaka, Japan Japanese whisky & spirits Major global Yamazaki, Hakushu, Hibiki, Kakubin This report provides a comprehensive view of the global whisky industry, tracking demand, supply, and trade flows across the worldwide value chain. It explains how demand across key channels and end-use segments shapes consumption patterns, while also mapping the role of input availability, production efficiency, and regulatory standards on supply. Beyond headline metrics, the study benchmarks prices, margins, and trade routes so you can see where value is created and how it moves between exporters and importers worldwide. The analysis is designed to support strategic planning, market entry, portfolio prioritization, and risk management in the global whisky landscape. Global demand is shaped by both household and industrial usage, with trade flows linking cost-competitive producers to import-reliant markets. Pricing dynamics reflect unit values, freight costs, exchange rates, and regulatory shifts that affect sourcing decisions. Supply depends on input availability and production efficiency, creating distinct cost curves across regions. Market concentration varies by country, creating different competitive landscapes and entry barriers. The 2035 outlook highlights where capacity investment and demand growth are most aligned globally. Report scope The report combines market sizing with trade intelligence and price analytics. It covers both historical performance and the forward outlook to 2035, allowing you to compare cycles, structural shifts, and policy impacts across countries and regions. Market size and growth in value and volume terms Consumption structure by end-use segments and regions Production capacity, output, and cost dynamics Global trade flows, exporters, importers, and balances Worldwide - the report contains statistical data for 200 countries and includes detailed profiles of the 50 largest consuming countries + the largest producing countries For the global report, country profiles provide a consistent view of market size, tr

The English whisky scene has a first on its hands. Cooper King Distillery and Spirit of Yorkshire Distillery have unveiled a whisky together. Meet Many Hands Yorkshire Blended Malt Whisky: the first blended malt from Yorkshire and the first whisky born from a fully open collaboration between two English distilleries. This new whisky is a limited release born from an unexpected turn of events. The story of Many Hands began in 2021, when Cooper King Distillery’s copper pot still suddenly broke down. With production at risk of grinding to a halt for an extended period, the distillery needed help fast. A helping hand from a neighboring distillery The solution came from across the Yorkshire Wolds. Spirit of Yorkshire Distillery opened the doors of its Hunmanby site, where teams from both distilleries spent a day making spirit together on Spirit of Yorkshire’s copper pot stills. What began as a friendly favor between two neighboring distilleries ultimately became a landmark first for the English whisky industry. The first English blended malt of its kind The malt spirit from Cooper King Distillery and Spirit of Yorkshire Distillery was filled separately into complementary sister casks. The spirits then matured side by side for four years under the same roof. After maturation, the contents of the casks were married. The result is a Yorkshire blended malt that brings together Cooper King’s fruity, nutty character with Spirit of Yorkshire’s honeyed, spicy notes. According to Head Distiller Abbie Jaume, Many Hands shows what’s possible when distilleries openly share knowledge, whisky, and ideas. How does Many Hands Yorkshire Blended Malt Whisky taste? According to the distilleries, this special English blended whisky has a warm, approachable profile made for sharing. Tasting notes below: - Nose: Aromas of honeycomb, peach cobbler, and blackcurrant leaf.  - Palate: Notes of biscuit, roasted cashews, and freshly cracked black pepper.  - Finish: Warming, with buttered rye toast drizzled with honey. The whisky is bottled at 48% alcohol by volume (ABV). Limited release of just 1,922 bottles Many Hands arrives as an exclusive summer release from Spirit of Yorkshire Distillery and Cooper King Distillery. Bottles are available from the distilleries for 95 pounds. From that price, 1 pound from every bottle sold will be donated to the Yorkshire Dales Millennium Trust. The charity supports apprenticeships for young people in rural areas and works to protect important British landscapes. The whisky is available while stocks last. Enthusiasts hoping to secure this historic first for English whisky should move quickly. Whisky Offers from Whisky Exhange in week 29 FAQ - What is Many Hands Yorkshire Blended Malt Whisky? Many Hands is the first blended malt whisky from Yorkshire. This limited release was created through an open collaboration between Cooper King Distillery and Spirit of Yorkshire Distillery. - How does Many Hands taste? The whisky offers aromas of honeycomb, peach cobbler, and blackcurrant leaf. The palate features notes of biscuit, roasted cashews, and black pepper, followed by a warming finish with rye bread, butter, and honey. - How many bottles are available and what does it cost? Only 1,922 bottles have been released. The whisky costs £95, and £1 from every bottle sold is donated to the Yorkshire Dales Millennium Trust.