Whiskey Imports Up 27% Compared to Same Period Last Year
Wine Shows Declining Trend Since Endemic Transition
The popularity of 'highball,' a drink made by adding carbonated water to whiskey, is rising, while the 'wine craze' that surged during the COVID-19 pandemic has somewhat subsided. As a result, wine imports are decreasing, and whiskey imports are expected to reach an all-time high.
Whiskey imports set to break annual records riding the 'highball' wave... Popularity of 'mid-range products'
According to customs trade statistics on the 23rd, whiskey imports including Scotch, Bourbon, and Rye from January to October this year totaled 26,937 tons, a 26.8% increase compared to the same period last year.
Whiskey imports surged 72.6%, from 15,662 tons in 2021 to 27,038 tons last year, and this year is expected to surpass 30,000 tons for the first time ever.
With two months still remaining this year, imports are approaching the all-time annual high of 27,379 tons set in 2002, making it almost certain that a new annual record will be set this year.
The increase in whiskey imports is mainly attributed to the popularity of highballs?whiskey mixed with carbonated water or tonic water?among the 'MZ generation' (Millennials and Generation Z). The highball trend has softened the perception that whiskey is an expensive drink and has helped whiskey become more mainstream.
In fact, the imported whiskey volume has significantly increased in the mid-range price segment compared to the past.
Although the total whiskey import volume from January to October this year increased compared to last year, the import value rose only 1.5% to $221.46 million, indicating that relatively affordable whiskey has been imported more.
A representative from a liquor company explained, "Since highballs are mixed with carbonated water, there is no need for expensive whiskey. As a result, more mid-range products that can be enjoyed casually have increased compared to before."
Looking at whiskey imports by country from January to October this year, the UK accounted for 21,698 tons, or 80.6% of the total. The UK (Scotland) is considered the birthplace of whiskey. Following were the United States (3,161 tons), Japan (1,043 tons), and Ireland (616 tons).
As home drinking and solo drinking fade, wine imports 'stall'... Wine imports decline for two consecutive years
On the other hand, wine imports have somewhat decreased.
From January to October this year, wine imports totaled 47,500 tons, down 18.8% from the same period last year. Import value also dropped 11.6% to $426.78 million. This marks the second consecutive year of decline in wine imports.
Wine imports had surged as home drinking and solo drinking cultures expanded during the COVID-19 pandemic.
Imports increased from 43,495 tons in 2019 to 54,127 tons in 2020, then sharply rose to 76,575 tons in 2021, but turned downward after the transition to endemic status last year.
The decline in wine import volume this year is the largest since the global financial crisis in 2019 (-20.1%), and the drop in import value is the first since 2009 (-32.5%).
By country, Spain led wine imports from January to October this year with 10,386 tons, accounting for 21.9%. This was followed by Chile (8,595 tons), France (8,532 tons), Italy (7,018 tons), the United States (4,642 tons), and Australia (3,050 tons).
However, France ranked first in import value with $172.12 million (40.3%), while Spain was fifth with $26.01 million.
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