In this article, we are going to discuss the best whiskey to try in 2024. If you’re also interested in other must-try expressions from around the world, here is our full list of the 20 Best Whiskeys to Try Before You Die.
Global Whiskey Market:
Whiskey is one of the Most Consumed Alcohols in the World, with the global whiskey market valued at $64 billion in 2022 and expected to reach $91.3 billion by 2028, with a CAGR of 6% during the forecast period.
The consumption of alcohol is shifting away from beer and wine and millennials are more likely to experiment with other alcoholic beverages, resulting in the growth of a ‘cocktail culture’. As a result of this tendency, the use of whiskey as a premium ingredient has increased. Product innovations, such as flavored whiskeys, and organic and sustainable options are also some of the major factors propelling the market.
Recent Developments in the Whiskey Industry:
The Brown-Forman Corporation (NYSE:BF-B), one of the largest American-owned spirits companies, announced the launch of its own distribution business in Japan in April, bringing the distribution in-house for the first time since the company entered the all-important market in the 1970s.
The Land of the Rising Sun is one of the largest markets in the world for premium whiskeys with BF’s Jack Daniel’s leading the premium whiskey category in the country. The Brown-Forman Corporation (NYSE:BF-B) also announced its decision to establish its own distribution business in Italy earlier this year, with the planned change taking effect from May 2025.
Brown-Forman had a relatively weak Q3 after its sales fell short of estimates, overshadowing a profit beat. The company had a revenue of $1.069 billion for the quarter ending January 31st 2024, a decrease of 1% from the same quarter last year. Shares of BF-B have witnessed a 22.1% decrease in value since the beginning of 2024.
In other news, Diageo plc (NYSE:DEO) announced the reopening of its Port Ellen Distillery in March. Situated on the famed island of Islay, the distillery had been closed for 40 years before the spirits giant decided to breathe new life into it. The reopening is the final chapter in a $235.5 million investment from Diageo plc (NYSE:DEO), which has also seen the revival of another famous ghost distillery, Brora, as well as investments into various other whisky visitor centers. It must be mentioned that in 2023, a single cask from Port Ellen sold for over $1 million, so perhaps reviving the 19th-century distillery was a smart decision by the Guinness-maker.
The stock of DEO was held by 30 hedge funds at the end of Q1 2024 in the Insider Monkey database, with a collective stake value of around $634.21 million. Orbis Investment Management boasted the largest stake of a little over 1.54 million shares, valued at $229.2 million.
Both Brown-Forman Corporation (NYSE:BF-B) and Diageo plc (NYSE:DEO) are ranked among the Most Valuable Alcohol Companies in the World.
Methodology:
To collect data for this article, we have referred to a number of sources, such as Liquor, VinePair, Men’s Journal, Reddit etc., looking for the Best Whiskeys to Try in the World. To make sure we give you the best of the best, we shortlisted whiskeys that appeared multiple times in the aforementioned sources, assigned them a score of 1 each time they were recommended on these websites, and then summed up the scores and ranked our list accordingly. When two or more whiskeys had the same score, we ranked them by the price (excluding tax) of their 750 ml bottles.
1. George T. Stagg 2022
Insider Monkey Score: 24
George T. Stagg built the most dominant American distillery of the 19th century, during a time known as the Gilded Age of Bourbon. This powerful, flavorful, and intense offering from Buffalo Trace’s ‘Antique Collection’ series is comprised of barrels aged for more than 15 years and 5 months, and bottled at 138.7 proof – the highest in the range of GTS to date.
Made from a mash bill of rye, malted barley, and corn, this incredible Bourbon has notes of toasted pecan and chocolate sauce on the nose, a rich blend of baking spice, vanilla, and cherry pie on the palate, and a robust finish of black coffee, molasses, and oak.
To learn more about other must-try whiskeys, you can refer to our list of the 20 Best Whiskeys to Try Before You Die.
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Disclosure: This article is originally published at Insider Monkey.