Why American whiskey is the real winner of St. Patrick’s Day | CNN Business
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On St. Patrick’s DayIt seems only fitting to knock back a shot of Jameson Irish Whiskey. However, when it comes to the fortunes of the Irish, American whiskey makers may have the upper hand.
American-made whiskey is one of the fastest-growing spirits in the United States, with sales rising nearly 11 percent to $5.1 billion last year, according to a recent report by the Distilled Spirits Council of the United States (DISCUS). . In particular, sales of premium whiskeys from both small and large American distilleries are increasing, as consumers increasingly gravitate toward a higher-quality drink.
“Spirits consumers appreciate the rich heritage, tradition and authenticity of American whiskey,” Lisa Hawkins, senior vice president of public affairs for Disqus, told CNN. He added that there is a “shared passion” among whiskey drinkers as they want to know where it is made, the type of grain used and its age.
One of the most recognizable brands is Jack Daniel’s Tennessee Whiskey. Brown Forman
(BFA)Its parent company said in an earnings call last week that Jack “continued to be the largest driver” of sales, growing 12% year-over-year.
Brown-Forman also expanded its Jack Daniel’s product line to include a premium whiskey, called Jack Daniel’s Bonded. America launched its next canned cocktail of Jack and Coke.
Another factor in the growth of the US whiskey market is small distilleries that are becoming attractions themselves, where people can sample whiskey and see how it is made.
“These unique experiences have helped introduce more consumers to American whiskey and generate excitement for both legacy and new brands in the category,” said Hawkins.
Westland DistilleryNear Seattle, is one of those experiencing a boost. Matt Hoffman, the distillery’s managing director and co-founder, told CNN that its sales are “growing faster than ever” after a slowdown due to Covid.
Westland focuses on making single malt whiskeys that “bridge the gap” between Irish whiskey – which Hoffman describes as “very elegant and approachable” – and American-made whiskey, which he Said to be “abundant” in taste.
Hoffman also credited increased international sales for helping to increase the popularity of American-made whiskey. Whiskey exports rose 30 percent to $1.28 billion last year, according to DISCUS — a welcome recovery since then. Retaliatory tariffs were dropped. American whiskey is the most popular. With the EU being its largest market, high sentiment will be exported.
Of course, that doesn’t mean Irish whiskey isn’t popular. DISCUS said it generated more than $1.4 billion in sales last year and will play a “key role” in spirits revenue, surpassing beer in 2022.