Luxury Spirits Up 15% In The Third QuarterDecember 16, 2022
Luxury spirits brands grew 15% in the third quarter of 2022 compared to the same time last year, according to a new report from the Distilled Spirits Council of the United States. The findings come from DISCUS’s Luxury Brands Index.
Among spirits categories, American whiskey led the way with 33% growth year over year, followed by Tequila at 29%. Japanese whisky was up 20%, Irish whiskey grew 17%, and Scotch rose 10%. Cognac was flat, weighing down the average to 15%.
The results represent a slowdown from last year, when the index grew by 50%, which DISCUS attributed to economic uncertainty tied to inflation and lackluster growth in overall economic activity that have adversely affected the drinks industry. Luxury spirits are up 23% over the last five years, led by Tequila at 44% growth and American whiskey at 43%.—Danny SullivanSubscribe to Shanken News Daily’s Email Newsletter, delivered to your inbox each morning.