Scotch export data highlights headaches for distillers

Core Insights - Scotch whisky exports have remained stable in volume, with 1.3 billion bottles shipped in 2025, similar to 2019 levels, but the value increased by 9.2% to £5.36 billion, indicating stagnation when adjusted for inflation [2][4] Group 1: Export Performance - In 2019, Scotch whisky exports were close to £5 billion, with 1.3 billion bottles sold, and the US was the largest market at £1.07 billion despite a 25% tariff impact [1] - By 2025, export shipments remained at 1.3 billion bottles, with a 9.2% increase in value compared to 2019, but inflation-adjusted figures suggest no real growth [2] - The value of Scotch exports fell less than 1% and volume decreased just over 4% in 2025, with challenges in the US and China offset by growth in India and Türkiye [4] Group 2: Market Challenges - The US market has seen a 15% decline in Scotch exports since the introduction of a 10% import tariff in April 2025, reflecting ongoing issues that began before the current administration [5] - The disconnect between volume and value was evident in 2019, where shipment value rose by 3% while volumes fell by 7%, indicating underlying market challenges [6] - The rise in prices for single malts has not aligned with consumer demand in the US, leading to a decline in popularity for blended Scotch [7] Group 3: Growth Markets - India has emerged as a significant market for Scotch, with shipments increasing by 72% in value and 68% in volume since 2019, making it the top market by volume with 220 million bottles shipped in the last year [8]