The market research firm attributes the decline to a weak macroeconomic environment, which worsened in 2025 as US tariffs began to take effect and eroded consumer confidence. The conflict in Iran has since added further pressure.
China’s status spirits market fell by 25% in value terms, while the US (-6%) and duty free (-3%) were more resilient. Cognac dropped by 17%, driven mainly by China. Scotch declined by 9% but maintained its share. Agave spirits were the only category to grow, rising by 2%, and Japanese whisky also saw pockets of strong growth from smaller bases in travel retail and less established markets.
IWSR reports a more diverse buyer base, with a rise among Millennial and Gen Z consumers, particularly in Asia, and growing groups of newly wealthy buyers in Southeast Asia, Latin America and the Middle East. “Buyers aren’t walking away from status spirits, but they are becoming more discerning,” said Guy Wolfe, Senior Insights Manager – Status Spirits at IWSR.
IWSR identified four attributes that attract buyers in 2026:
- Genuine scarcity: Consumers are sceptical of manufactured limited editions and favour private casks, bespoke products and verifiable rarity. Sotheby’s Distillers One of One charity whisky auction raised US$3.1 million across 39 lots last year.
- Age as a trust signal: Status Scotch releases without an age statement have declined over the past two years, while launches with an age statement of 18 years or less have increased sharply.
- Access and community: Buyers increasingly value distillery visits, tastings, cask owner networks and peer gatherings over physical goods alone.
- Provenance over pedigree: Whiskies from countries such as India, Taiwan, China, South Korea, Australia, New Zealand, Israel and Denmark are exceeding the US$100 mark, supported by local storytelling, accelerated tropical ageing, indigenous cask types and international awards.
“Driving purchase in status spirits today requires precision,” Wolfe said.
Source: IWSR, “Spending smart: four ways to attract status spirits buyers,” based on the IWSR Status Spirits Strategic Study 2026.
