Earlier this year, we glanced into our magical crystal ball to see what may or may not be making an impact on the world of whiskey.

So, let's review our thoughts and note some surprises that came up.

Whiskey Festivals:

We predicted that there would be a rise in the number of festivals and an increase in festival attendees. We asked “Bing Co-Pilot” how many whiskey festivals took place globally in 2023 and then how many took place in 2024. The return for 2023 was 300+, and for 2024, 350+, which is quite the increase. However, nailing down firm numbers is difficult as no single comprehensive list exists .Individuals hold various lists, but not every festival is announced globally. Some festivals may be small local events, while others are large commercial events that last a week.

We found a website that seems to give the most comprehensive global calendar here: Whisky Events & Festivals - The Official Whisky Glass .

Do remember, the year is not over! There are festivals all year round, and some are likely to be near you, so check your local listings to get involved.

RTD (Ready to Drink)

The ready-to-drink market is really taking off. Stores sell a range of canned cocktails, wines, and hard seltzers. There is an increase in cocktails on tap(on draught) in bars and clubs. Is it all about convenience? Is it a response to consumers' tightening purse strings? For example, a 750ml bottle of Bulliet Old Fashioned costs around $22.99. Compared to visiting a bar, where a cocktail may cost around $10.00+ for one drink, RTDs are a good option for the consumer.

Many companies are recognising this shift and getting involved with this part of the spirits industry—not just whiskey/bourbon but tequila, vodka, and Shochu, to name a few. However, the more companies that take on this style of product, the smaller each company's share of the market becomes. Consumers will be the main beneficiaries in this competitive situation.

For some, the advantage of an RTD on a personal level may be as simple as a health observation; each drink will be the same number of calories/fat/sugars. For others, it's the convenience of not having to mix your own at home.

For anotherview on the RTD sector, this link goes to a great article in Forbes magazine: The Rise And Future Of The Ready-To-Drink Beverage Industry .

Sustainability

While the environment and climate have been part of production considerations for a long time, global awareness has increased, and many companies are looking more closely at how to reduce their impact on the environment during their production and distribution processes. Ranging from using local ingredients and reducing carbon footprint in production to reviewing and revising packaging materials, we expect more focus on sustainability across the industry going forward. Not only will legislation influence this, but consumers continue to be more conscious of their personal input on climate issues.

In addition to the topic of sustainability, many are becoming more interested in provenance and, dare we say, 'terroir.’ People like to know where the grain comes from and how local it is to the distillery using it. If you read some of our "Spotlight on…" blogs, you will note that many of the distilleries we work with take provenance very seriously. It forms their story, relates closely to their communities, and gives you a feel-good smugness when you sip your dram.

The demise of the social media whiskey influencer

Over the last few years, and again likely a response to the global pandemic, the whiskey "influencer" has held our attention via Instagram, podcasts, and blogs. Drammers were a captive audience for a couple of years, and while we couldn't go to bars and clubs, the industry quickly pivoted to selling us their wares via online tastings, whiskey mail (subscriptions where samples could be sent you at home), and virtual "pubs."

What easier way for distilleries to get their products to us than having influencers receive free samples or bottles to tell us about? Content creators could utilize every social media platform, and it worked. However, the bubble is bursting; being a content maker or influencer takes time and money to invest in good kit, and, of course, a captive audience helps. Time is now being taken up by real life and jobs. The loose promise of fame and financial gain rarely comes in the form of actual cash, and bottles of whiskey don't pay the rent.

Companies are back out on the road with in-person events, and the brand ambassador is back.

So, has there been an increase or decrease in numbers? It's difficult to tell. The changes in platform behavior, rules, and accessibility will mean the visibility of influencers fluctuates. Some may leave X, and some may set up base in Substack. Tik-Tok has recently updated its guidelines regarding alcohol content, meaning more people are using that platform and gaining a different audience.

It may be that the quality of content of the influencer who has stayed the course improves.

A small prediction for 2024 onwards: More whiskey-based podcasts. With podcasting becoming more accessible for creators and listeners, we think this trend will rise a little.

An increase in product transparency

Again, while it is hard to pin down numbers on this, many whiskey bottles and distilleries are becoming more transparent. Brand ambassadors have an enormous amount of knowledge to share at events. While the labels themselves may not always have all the information that every drammer wants to see,  obtaining that information has become more accessible. Firstly, in-person events, distillery tours, and visits, and, of course, company websites. So, while the information may not all be in one single space, it is available to you should you wish to find it.

Rise of whiskey fraud

Wherever there is increased interest in a product with perceived high-level value, there will be those who will take advantage of people who wish to invest in that product. There has been an increase in the number of companies purporting to sell high-end rare bottles of whisky, whiskey, and bourbon, as well as those selling cask investments.

In response, several projects have been launched to combat whiskey fraud and help protect the consumer. The linked article relates to one approach in the UK: SB Podcast: SB Podcast: whisky cask investment fraud - The Spirits Business .

This is not just a UK problem; as described in a Forbes article, it has also affected some in the United States. Whisky Cask Fraud ‘Could Seriously Damage The Reputation Of Scotch Whisky,’ Scottish Parliament Hears

Surprise of 2024

We can’t have an article reviewing changing trends without noting that Beyonce released a whiskey in partnership with Moet Hennesy. Sir Davis Whiskey is an American whiskey with a 51% rye and 49% malted barley mashbill. More information about Beyonce’s dram is here: Our Story Begins with a Letter | SirDavis® .

Of course, with Barrel Global, you are welcome to contact our team to discuss your current or prospective investment, and we will gladly discuss your options with you.

We are on a mission to make whiskey barrel ownership accessible to collectors worldwide. As the first-ever global marketplace for whiskey barrels, you can connect with distilleries and collectors worldwide to build your own portfolio. For a whiskey experience unlike any other, request access today. Barrel Global .

‍

(Photo credit Drew Beamer via Unsplash)

‍