Kentucky whiskey sales have experienced significant growth from $1.3 billion in 2003 to $5.27 billion in 2023. However, recently, three distilleries in Kentucky have filed for bankruptcy, including two newly opened facilities and a long-standing brand, Kentucky Owl. The industry faces a downturn with whiskey sales dropping 1.8% and overall spirit sales falling for the first time in 30 years since the pandemic boom. This decline is attributed to changing consumer habits and competition from non-alcoholic beverages and cannabis.
The Distilled Spirits Council reports domestic whiskey sales grew from $1.3 billion in 2003 to $5.27 billion in 2023, a roughly 300% increase.
In the last year, three different Kentucky distilleries have filed for bankruptcy as the industry grapples with a slowdown.
Sales dropped 1.8% from 2023 to 2024, signaling an unexpected downturn after years of growth.
The drop in Bourbon and whiskey sales is part of a larger overall drop in spirit sales, marking the first decline in 30 years.
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