Diageo and Scotch

Emerging markets accounted for 56 per cent of the value of Scotch consumption last year, up from 40 per cent a decade earlier, says Bernstein Research, which is why recovery in these countries is so important for the industry.


Single malts — made, as their name implies from malt produced at a single distillery — are still a small part of the industry, accounting for just 9 per cent of volumes. But their value equates to 23 per cent of all Scotch.


In France, the historical “auld alliance” remains alive and well, at least judging by the amount of Scotch drunk. France is the spirit’s biggest export market by volume, according to the Scotch Whisky Association, the industry body. The average French person drinks almost three bottles a year, mainly of cheaper brands, says Trevor Stirling, analyst at Bernstein Research.