Overview: The Scotch Whisky Association’s 2025 export report highlighted a significant shift in the global market, with overall exports down by value and volume. However, the first half of 2026 indicated a rebound, challenging narratives of structural decline.
The Full Story
Data from whisky investment service Decant Index shows global Scotch exports rising 6 per cent by volume and 3 per cent by value year-on-year in the first six months of 2026. John Kennedy, Managing Director at Decant Index, noted that more whisky was exported than during the comparable period last year, with total value increasing and single malt volumes recovering. While Europe remains a major market, France experienced a slump of 3.6 per cent by value and 14 per cent by volume in 2025.
Asia Pacific lost its title as the most valuable regional market to Europe after an 8.3 per cent decline, with significant value falls recorded in China, Singapore, and Thailand. India emerged as the strongest-performing major Scotch export market in 2025, up 15 per cent by both volume and value, receiving the equivalent of 220 million bottles. In Europe, Germany became the eighth-largest Scotch market globally by value and fourth-largest by volume, up 4.6 and 5.8 per cent respectively. The Netherlands recorded growth in import volumes in the first half of 2026, acting as a key distribution hub similar to Singapore.
Mark Kent, Chief Executive of the Scotch Whisky Association, stated that Scotch Whisky is an iconic product which appeals around the world, emphasizing the industry’s great resilience and long-term potential for continued growth. He also highlighted the need for further government support behind the industry, noting it is within both the UK and Scottish Governments’ power to facilitate a supportive environment for producers.
What This Means
The first-half 2026 figures challenge the idea that Scotch whisky is experiencing structural decline. Kennedy explained that India’s performance was influenced heavily by bulk shipments, but its continued expansion reinforces the long-term importance of the market to Scotch whisky. Growth in some established markets helps offset declines elsewhere in Europe. Kent highlighted that it is within both the UK and Scottish Governments’ power to facilitate a supportive environment for producers, boosting and sustaining growth for Scotch Whisky and the wider economy.
Consumer Takeaway
Total Scotch whisky exports were worth AUD $10 billion in 2025, with 43 bottles shipped every second to around 163 global markets. By value, single malt accounted for 29.7 per cent of exports, blended Scotch for 59.8 per cent, and other categories, including bulk exports, for 10.5 per cent.
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