American Whiskey’s $25 And Over Tier Gains Share As Premiumization Continues
March 11, 2024While total American whiskey consumption by volume fell in the U.S. last year for the first time in almost a quarter-century, the market managed yet another gain in dollar terms, thanks to the consistent performance of the higher end of the sector. After reaching the 10-million-case mark during the pandemic, $25 and over Bourbon brands surpassed 11 million cases last year, according to Impact Databank, and they now account for fully one-third of total American whiskey volume in the U.S.
Beam Suntory-owned Maker’s Mark is the largest-selling brand in the $25 and over segment, and the fourth-largest American whiskey overall by volume. Maker’s Mark performed well outside the U.S. last year, as it reached 3 million cases globally on 8% growth, according to Impact Databank. The brand was roughly flat in the U.S. in volume in 2023, after rapid gains in the preceding years. Fellow Beam Suntory label Basil Hayden has been on a similar path, slipping last year after booming during the pandemic.
Diageo’s Bulleit boasts the largest-selling rye whiskey on the market, and did well to overcome glass supply constraints during the pandemic. Last year, Bulleit approached 1.8 million cases in the U.S. on a 3.5% increase. Last month, Bulleit entered the American single malt category with its 100% barley expression, priced at $60 a 750-ml. bottle. The brand’s net sales soared 19% in the six months through December, partially boosted by shipment timing.
2023 marked Woodford Reserve’s 13th-consecutive year of double-digit growth, and Brown-Forman has launched two new Woodford Reserve extensions early in 2024—Batch Proof at $150 a bottle, and Double Double Oaked at $80 a half-bottle. Brown-Forman has also extended its resurgent Old Forester label with a 1924 expression, retailing at $115 a bottle. While Old Forester is still only at half the volume it was in the 1970s, according to Impact Databank, it has now registered 10 straight annual gains and is clearly enjoying a renaissance as Brown-Forman continues to invest behind it.
Also among the leaders are Four Roses, whose volume increased 5% last year, and Sazerac-owned Buffalo Trace, which is poised to cross the half-million-case mark. Beyond the largest-selling brands, other fast-growing $25 and over American whiskies last year included Campari America’s Russell’s Reserve (+11%), Heaven Hill’s Larceny (+14%) and Evan Williams 1783 (+11%), along with MGP-owned Penelope Bourbon (+64%), according to Impact Databank.
American whiskies overall have slowed some lately along with other spirits categories as the market normalizes post-pandemic, and the flavored segment has waned a bit. But consumer interest remains strong—especially at the higher end of the market—boosting the value side of the equation as Bourbon drinkers continue to seek out higher-priced bottles.—Juan Banaag
| U.S.—Leading Bourbon Brands Above $25 a 750-ml. (thousands of 9-liter case depletions) |
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| Brand | Distiller | 2022 | 2023 | Percent Change1 |
|
|---|---|---|---|---|---|
| Maker’s Mark2 | Beam Suntory | 2,375 | 2,350 | -1.0% | |
| Bulleit3 | Diageo North America | 1,700 | 1,760 | 3.5% | |
| Woodford Reserve4 | Brown-Forman | 1,278 | 1,420 | 11.1% | |
| Knob Creek5 | Beam Suntory | 531 | 531 | 0.0% | |
| Basil Hayden5 | Beam Suntory | 523 | 502 | -4.0% | |
| Buffalo Trace | Sazerac Co | 425 | 495 | 16.5% | |
| Old Forester | Brown-Forman | 427 | 485 | 13.5% | |
| Four Roses | Four Roses Distillery | 415 | 435 | 5.0% | |
| Total Leading Brands6 | 7,673 | 7,977 | 4.0% | ||
| 1 Based on unrounded data. 2 Includes Maker’s 46. 3 Includes Bourbon and Rye; excludes RTDs. 4 Includes Double Oaked, Rye, Malt,and Wheat. 5 Includes Rye. 6 Addition of columns may not agree due to rounding. Source: IMPACT DATABANK © 2024 |
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