Hot or Cold? A temperature check on Scotch Whisky Export results for Q1 2025
Commercial Spirits Intelligence No.95
This newsletter is a collaboration between Duncan McFadzean of Noble & Co, and Martin Purvis. In this newsletter we leverage our experience, contacts and market intel to provide meaningful analysis that speaks to relevant issues for you.
Hot or Cold? A temperature check on Scotch Whisky Export results for Q1 2025
We have reviewed the first quarter’s Scotch whisky export data in this article now that the March 2025 data is available. In this way, we wanted to get an early temperature check on the market, given the gloomy outlook that everyone has been holding for the last six months. Conditions have been tricky, but the export data allows us to see what has left for foreign shores. Much of this would have been before the tariff issues raised their head and may be a reaction to what was impending. As a guide we have also analysed Q1 data for the last 25 years to see how this has evolved and to provide historical context.