Global exports of Scotch whisky declined in value terms but increased in volume terms in 2024, new figures from the Scotch Whisky Association (SWA) show.
Exports by value stood at £5.4bn ($6.7bn) last year, marking a 3.7% decrease from 2023.
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Volumes of Scotch exports rose by 3.9% to 1.4bn bottles, reflecting “changing trends in global consumer preferences and challenging trading environment”.
In light of its findings, the SWA has urged the UK and Scottish governments for increased support, as distillers see a mixture of “consumer spending, increased domestic tax and regulation, and turbulent global trade” potentially continuing to affect imports in 2025.
Since the Covid-19 pandemic, annual Scotch whisky exports have grown 10% in value 7% volume terms from a 2019 baseline.
In a statement, SWA CEO Mark Kent said: “At home, distillers are being stretched to breaking point, as consumers bear the brunt of a 14% increase on the tax on every bottle of Scotch Whisky in the last 18 months alone.”
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By GlobalDataHe added that worldwide, “the tectonic plates of trade are shifting”.
Asia-Pacific was the largest regional market by value for Scotch exports, at £1.57bn, supported by 13.8% value growth in India and a 7.1% hike in Japan compared with 2023. The market made up 29% of global exports in 2024.
Despite coming out at the largest market in value terms, the region still saw a 12.4% decrease in exports value, while volumes increased 6% to 419m 70cl bottles. In China, Scotch exports value dropped a significant 31.5% to £161m.
Kent said exports to the EU and North America had “become much more challenging”.
Making up 27.5% of global Scotch exports last year, the EU held its position in terms of volume, with 488m bottles exported, but saw values decline 5.4% on 2023 to £1.5bn.
France, Spain, and Germany remain key markets for the spirit, with France seeing an 11.6% value decrease but a 1.9% volume increase.
The US saw Scotch exports value drop 3% on 2023, to £1.2bn, while volumes increased to 132m bottles, which demonstrated “the challenging economic conditions in the market, with inflation leading to consumers reluctant to spend on non-essential items”, the trade body said.
The SWA also recorded a decline in the single malt category in the US, as the sector “continues to feel the impact of the 25% tariff imposed between October 2019 and March 2021, which resulted in £600 million in lost exports”.
In 2024, the five-year suspension of tariffs on Single Malt Scotch Whisky reached its midpoint, with the agreement scheduled to conclude in 2026.
The SWA said it is encouraging “the UK and US administrations to work together to resolve the underlying trade disputes and secure the long-term stability and growth”.
In North America, other markets saw value declines, with flat volumes in Canada and decreases in Mexico.
The Central and South America region, which makes up 9.3% of total global exports, saw export value grow 22.4% to £500m. The growth was attributed to volume and value increases on 2023 in Latin America and the Caribbean, and Brazil’s confirmed Geographical Indication status for Scotch in early 2024, which boosted consumer confidence, according to the SWA.
Overall, in 2024, bottled blend Scotch led the market with £3.2bn, accounting for 59.4% of global exports and growing 4.4% year-over-year.
Single malt, the second-largest category, declined by 17.2% to £1.7bn, representing 31.0% of total exports.
Meanwhile, bulk blend exports grew 9.1% to £189m, making up 3.5% of global exports in the market.
Calling on the government, Kent said, “the SWA is seeking reduced excise duty, reconsideration of the extended producer responsibility financial impact, and accelerated trade talks to reduce tariffs and market access barriers, particularly in key markets such as India. “
