updated - October 1, 2020 Thursday EDT
This just in: American whiskey is making its way to the top of Liquor Charts.
Of the three top hard liquors the United States consumes, Vodka still holds the biggest market share.
However, American Whiskey is catching up at a rapid pace.
According to a report by Business Insider, Vodka sales went up by 1.6% by the volume in 2014. In the same time period, both Tennessee whiskey and bourbon sales went up at around 7.9%.
Just last year, it was reported that there's a possible whiskey shortage due to the high consumer demand. Because of the alcohol's new-found popularity in the U.S, Tennessee distilleries are busy filling up orders and boosting up the production rates.
In the year 2013, the annual sales for bourbon and Tennessee whiskey exports had a 10.2 increase and surpassed the $1 billion mark.
This year Distilled Spirits Council reported on their website that supplier sales were up 4 percent in 2014 to $23.1 billion, and total U.S. volume growth increased 2.2% to 210 million cases. It is estimated that overall retail sales of distilled spirits in the U.S. market is nearly $70 billion, supporting hundreds of thousands of jobs in the hospitality industry and producing over $20 billion in tax revenues for all levels of government.
The primary reason for the consumer demand spike for whiskey is the lowered or eradicated tariff on imported spirits to other countries. Many small craft distilleries are also entering the market adding competition and hype to the industry.
Jack Daniel's master distiller Jeff Arnett says: "They're making whiskey more exciting and bringing more people to the whiskey segment. They're popping up all over, in convenient tourist places, and they're driving more tourism business for us. It's fascinating."
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