Single Malt Scotch Fights Competition From Luxury Tequilas, Bourbons

Single malt scotch sales have been on a long-term upswing in the U.S. market, nearly doubling from 2010 to 2021 to reach 2 million cases (24 million bottles) for the first time, according to our company’s research arm, Impact Databank, before receding a bit over the past two years. Scotch single malts continue to battle competition from popular categories like American whiskey and tequila, and so have been aiming to maximize higher-end offerings as volume dips, notes our sister web news site Shanken News Daily.

Single malt scotch shipments to the U.S. amounted to 1.93 million 9-liter cases (23.2 million bottles) in 2023, down 14.3%, but the export value was only down 1.4% to £394 million ($502m), showing that higher-end whiskies are fairing better than the overall picture. Including blended scotch, total scotch whisky shipments to the U.S. fell 7% by both volume and value last year.

In line with broader scotch trends, the top five single malt brands in the U.S. by volume—Glenlivet, Macallan, Glenfiddich, Glenmorangie, and Balvenie respectively—all saw declining volume last year, according to Impact Databank, though again their dollar sales declines weren’t as steep.

The Macallan, from Edrington, has continued to tap single malt’s collectible segment with limited releases this year. They include The Macallan Home Collection River Spey, which retails at around $490 a bottle; Macallan Horizon, a new whisky launched in collaboration with luxury car maker Bentley, priced at $50,000 a bottle; and Tales of the Macallan Volume II, a 1949 vintage single malt bottled in 2022, which carries a suggested price of $90,000. Macallan was up 0.6% by volume and 4.7% by value in Nielsen channels this year to date through May 18.

Caspar Macrae, president and CEO of Glenmorangie Company at Moët Hennessy, recently touted some big developments, including its Triple Cask Reserve and a new Tale series whisky to follow the success of Tale of the Forest and A Tale of Tokyo. A third initiative is the return of Glenmorangie’s 18 year old, newly dubbed Infinita. Glenmorangie A Tale of the Forest ranked eighth among our Top 20 Whiskies of 2023, retailing at $102.

At Pernod Ricard, which owns Glenlivet, Aberlour, and Scapa, plans are afoot to build its first distillery on Islay, on the shores of Loch Indaal, across the water from Bruichladdich Distillery. Meanwhile, Glenlivet continues to lead the U.S. market in volume. In February, Glenlivet innovated with Rum and Bourbon Fusion Cask ($100), finished in casks made from a combination of first-fill rum and bourbon barrels.

William Grant & Sons has two labels among the leaders: Glenfiddich and Balvenie. Glenfiddich’s 12 year old Amontillado Sherry Cask Finish also ranked among our Top 20 Whiskies of 2023, carrying a price of $55 a bottle. The brand also debuted Grand Yozakura ($2,000), a 29 year old malt finished in Japanese awamori barrels last year. A sneak peek at 2024 trends can be seen in the monthly data released by U.S. control states, which show Glenfiddich doing 3% volume growth through the first four months of 2024.

Balvenie’s latest includes a 19 year old, limited-edition offering from its Stories Range called A Revelation of Cask and Character. The 47.5% ABV single malt is the only 100% sherry cask-matured whisky in the range and retails at $504 a bottle.