Scotch Exports Set To Double By 2025, Says SWA Chief ExecutiveDecember 16, 2013
Scotch Whisky Association (SWA) chief executive Gavin Hewitt has predicted that Scotch whisky exports will double in value by 2025 to £8.5 billion ($13.9b), reports The Scotsman. Citing Scotch’s near doubling in the export market over the past decade, Hewitt also urged distillers to continue making significant investments in production, as demand—particularly in emerging markets like Asia, Latin America and Africa—appears primed to skyrocket in the coming years. Hewitt, who is set to be succeeded as SWA CEO by David Frost in January, noted that Scotch exports reached a total of £4.27 billion ($6.9b) in 2012, compared to £2.37 billion ($3.9b) in 2003.
Hewitt’s comments follow recent investments made by Diageo, which has dedicated $1.54 billion to expand its Scotch distilleries and stock, as well as Pernod’s Chivas Brothers unit, which committed $60 million to expanding whisky production annually over the next few years. Likewise, earlier this month, Edrington Group announced it would pour £100 million ($163m) into a new Scotch distillery for its Macallan brand.Subscribe to Shanken News Daily’s Email Newsletter, delivered to your inbox each morning.