Spain: Whisky Market 2024

Whisky Market Size in Spain

In 2022, the Spanish whisky market increased by 33% to $X, rising for the second year in a row after four years of decline. Overall, consumption, however, showed a noticeable setback. Over the period under review, the market attained the peak level at $X in 2014; however, from 2015 to 2022, consumption stood at a somewhat lower figure.

Whisky Production in Spain

In value terms, whisky production contracted modestly to $X in 2022 estimated in export price. Over the period under review, production, however, showed a slight downturn. The pace of growth was the most pronounced in 2018 when the production volume increased by 85% against the previous year. Whisky production peaked at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Whisky Exports

Exports from Spain

In 2022, overseas shipments of whisky decreased by -1.2% to X litres for the first time since 2017, thus ending a four-year rising trend. In general, exports, however, continue to indicate resilient growth. The growth pace was the most rapid in 2019 with an increase of 143% against the previous year. Over the period under review, the exports reached the peak figure at X litres in 2021, and then reduced in the following year.

In value terms, whisky exports contracted sharply to $X in 2022. Over the period under review, exports, however, saw a buoyant increase. The most prominent rate of growth was recorded in 2019 when exports increased by 87%. The exports peaked at $X in 2021, and then dropped notably in the following year.

Exports by Country

Germany (X litres), Poland (X litres) and Russia (X litres) were the main destinations of whisky exports from Spain, together comprising 43% of total exports. These countries were followed by Japan, the UK, the Netherlands, Singapore, Latvia, Turkey, Bulgaria, France, Italy and Hungary, which together accounted for a further 35%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Bulgaria (with a CAGR of +239.3%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for whisky exported from Spain were Poland ($X), Germany ($X) and the Netherlands ($X), together accounting for 33% of total exports. Russia, Italy, Latvia, Turkey, Japan, the UK, Bulgaria, Hungary, France and Singapore lagged somewhat behind, together comprising a further 30%.

Among the main countries of destination, Latvia, with a CAGR of +167.0%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average whisky export price amounted to $X per litre, which is down by -17.9% against the previous year. In general, the export price recorded a abrupt descent. The pace of growth was the most pronounced in 2013 an increase of 15% against the previous year. The export price peaked at $X per litre in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Italy ($X per litre), while the average price for exports to Singapore ($X per litre) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Hungary (+11.1%), while the prices for the other major destinations experienced more modest paces of growth.

Whisky Imports

Imports into Spain

In 2022, purchases abroad of whisky increased by 23% to X litres, rising for the second year in a row after four years of decline. The total import volume increased at an average annual rate of +1.8% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2013 when imports increased by 29% against the previous year. As a result, imports attained the peak of X litres. From 2014 to 2022, the growth of imports remained at a lower figure.

In value terms, whisky imports surged to $X in 2022. Overall, imports, however, continue to indicate a mild decrease. The most prominent rate of growth was recorded in 2021 with an increase of 25%. Imports peaked at $X in 2014; however, from 2015 to 2022, imports remained at a lower figure.

Imports by Country

The UK (X litres), the United States (X litres) and the Netherlands (X litres) were the main suppliers of whisky imports to Spain, with a combined 93% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the United States (with a CAGR of +12.6%), while imports for the other leaders experienced mixed trend patterns.

In value terms, the UK ($X) constituted the largest supplier of whisky to Spain, comprising 62% of total imports. The second position in the ranking was held by the United States ($X), with a 23% share of total imports. It was followed by the Netherlands, with a 6% share.

From 2012 to 2022, the average annual rate of growth in terms of value from the UK totaled +1.9%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+3.7% per year) and the Netherlands (-16.4% per year).

Import Prices by Country

In 2022, the average whisky import price amounted to $X per litre, standing approx. at the previous year. In general, the import price showed a noticeable curtailment. The pace of growth appeared the most rapid in 2014 when the average import price increased by 35%. The import price peaked at $X per litre in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the Netherlands ($X per litre), while the price for the United States ($X per litre) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (+5.0%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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