Whisky Industry 2024: A Year of Resilience, Revival, and Record-Breaking Releases

The whisky industry in 2024 proved both challenging and triumphant, a year that balanced market headwinds with some of the most historic reopenings and prestigious releases in modern whisky history. Despite global economic pressures, distilleries across Scotland, the United States, Ireland, and beyond demonstrated resilience, creativity, and renewed ambition.

Market Performance: Challenges and Shifting Demand

According to the Scotch Whisky Association, Scotch exports totalled £5.4 billion in 2024, a 3.7% decline in value year-over-year. Yet, export volume rose by 3.9% to 1.4 billion bottles, signalling that while consumers may be buying at lower price points, global interest in whisky remains strong.

India became the largest market by volume, reflecting the country’s growing middle class and appetite for premium imports. Meanwhile, the United States retained its position as the top market by value, underscoring its continued dominance in the premium whisky segment.

Conversely, China fell to 10th place, driven by slower economic growth and changing luxury consumption habits. Despite these mixed signals, overall whisky exports remain at historically high levels, demonstrating the spirit’s enduring global appeal.

Key Takeaway: Consumers are prioritising value, accessibility, and authenticity, prompting distilleries to diversify portfolios with both high-end age statements and more affordable core expressions.

Historic Distillery Reopenings: Reviving Whisky Icons

2024 was the year of revival. Scotland witnessed a wave of long-awaited reopenings that reaffirmed the nation’s reputation as the world’s whisky capital.

Port Ellen (Islay)

The reopening of Port Ellen Distillery in March 2024 was nothing short of historic. Closed since 1983, its revival under Diageo’s £44 million investment marks one of the most significant moments in modern Scotch whisky history. The new distillery blends advanced technology with heritage production methods to recreate the signature Islay smoke that collectors and fans have coveted for decades.

Rosebank (Falkirk)

Rosebank Distillery, known as the “King of the Lowlands,” reopened for tours and limited production in spring 2024. With its signature triple distillation and elegant floral profile, Rosebank’s return strengthens the resurgence of Lowland whisky craftsmanship.

Cabrach and Dallas Dhu (Highlands)

In the Highlands, Cabrach Distillery began production in October 2024, reviving a once-forgotten whisky region. Dallas Dhu, another historic name, confirmed plans to resume production in 2025, a development whisky historians have long anticipated.

Reopenings and projects to watch:

• Port Ellen Distillery (portellen.com) – reopened March 2024

• Rosebank Distillery (rosebank.com) – reopened Spring 2024

• Cabrach Distillery (cabrachtrust.org) – began production October 2024

• Dallas Dhu Distillery (historicenvironment.scot) – reopening planned 2025

Record-Breaking Whisky Releases of 2024

If 2023 was the year of innovation, 2024 belonged to heritage and age.

The most headline-grabbing release came from The Macallan, which unveiled an 84-year-old single malt, now officially the world’s oldest whisky ever bottled. This extraordinary release reinforced Macallan’s status as the benchmark for ultra-aged Scotch and demonstrated the market’s appetite for museum-grade collectables.

Across the Atlantic, American whiskey producers also leaned into aged statements and premium blends. Notable 2024 releases include:

• Knob Creek 10-Year Rye

• Old Grand-Dad 16-Year Bourbon

• Widow Jane 20-Year Black Opal

• Barrell Craft Spirits 20-Year Bourbon

Across the globe notable releases included:

Whisky Name / Release	Distillery / Brand	Age / Expression	Type / Origin	Notes / Highlights
The Macallan Time: Space Collection	The Macallan	84 Years Old	Single Malt Scotch (Speyside)	Officially the world’s oldest whisky ever bottled, celebrating craftsmanship and time.
Port Ellen 1st Release (2024 Revival)	Port Ellen Distillery	NAS	Islay Single Malt	First distillate from the revived distillery after 40 years of silence.
Rosebank 31-Year (Reopening Edition)	Rosebank Distillery	31 Years Old	Lowland Single Malt	Limited edition commemorating the reopening of the “King of the Lowlands.”
Knob Creek 10-Year Rye	Beam Suntory	10 Years	American Rye Whiskey	Deep spice and oak balance, marking a new era for Knob Creek’s rye line.
Old Grand-Dad 16-Year Bourbon	Beam Suntory	16 Years	Kentucky Straight Bourbon	Extra-aged bourbon reviving a historic label with modern finesse.
Widow Jane 20-Year Black Opal	Widow Jane	20 Years	American Bourbon	A luxurious, small-batch bourbon showcasing mineral-rich New York water.
Barrell Craft Spirits 20-Year Bourbon	Barrell Craft Spirits	20 Years	Blended Bourbon	Premium blend of aged barrels, emphasising oak depth and balance.
Aultmore 25-Year Oloroso Sherry Cask	Aultmore Distillery	25 Years	Speyside Single Malt	Winner of “Whisky of the Year” at the International Whisky Competition.
Laphroaig Elements 2.0	Laphroaig Distillery	NAS	Islay Single Malt	Whisky Advocate’s 2024 Whisky of the Year, a modern smoky reinterpretation.
Aberfeldy 21-Year French Red Wine Cask	Aberfeldy Distillery	21 Years	Highland Single Malt	Matured in French red wine casks for rich berry and honey notes.
GlenAllachie 30-Year Batch 4	The GlenAllachie	30 Years	Speyside Single Malt	Limited annual release showcasing Billy Walker’s sherry cask mastery.
The Dalmore Luminary No.2 Edition	The Dalmore	49 Years	Highland Single Malt	Second in the Luminary series, blending artistry and rare maturation.
Glengoyne Legacy Chapter 4	Glengoyne Distillery	NAS	Highland Single Malt	Final entry in the Legacy series, highlighting unpeated Highland character.
Redbreast Tawny Port Cask Edition	Midleton Distillery	12–15 Years	Irish Single Pot Still	Aged in tawny port casks, expanding Redbreast’s beloved series.
Midleton Very Rare 2024 Release	Midleton Distillery	NAS (Vintage)	Irish Blended Whiskey	Annual collectible Irish whiskey known for balance and smoothness.
Teeling 20-Year Single Malt (White Port Finish)	Teeling Whiskey	20 Years	Irish Single Malt	A limited-edition release finished in white port casks.
Yamazaki Peated Malt 2024 Edition	Suntory	NAS	Japanese Single Malt	Rare peated expression from Yamazaki, highlighting smoky Japanese terroir.
Hakushu 18-Year Peated Malt (New Label)	Suntory	18 Years	Japanese Single Malt	Relaunch of the classic with updated bottle design and refined peat notes.
Nikka Yoichi Non-Age Peated Edition	Nikka Whisky	NAS	Japanese Single Malt	Showcases coastal peat character and savoury smoke.
Ichiro’s Malt & Grain 2024 Edition	Venture Whisky	NAS	Japanese World Blend	Annual limited bottling blending global malt and grain whiskies.
Glen Scotia Victoriana Cask Strength 2024	Glen Scotia	NAS	Campbeltown Single Malt	New batch of Glen Scotia’s signature bold maritime whisky.
Ardnamurchan AD/24.01	Ardnamurchan Distillery	NAS	Highland Single Malt	New vintage emphasising sustainability and coastal maturation.
Balblair 25-Year (2024 Batch)	Balblair Distillery	25 Years	Highland Single Malt	Annual batch release known for balance of tropical fruit and oak.
Ardbeg Hypernova 2024 Committee Release	Ardbeg	NAS	Islay Single Malt	One of Ardbeg’s peatiest experiments, limited to committee members.
Lagavulin Offerman Edition 2024 (Charred Oak)	Lagavulin	11 Years	Islay Single Malt	Collaboration with Nick Offerman, aged in charred oak barrels.
GlenDronach Grandeur Batch 12	GlenDronach	29 Years	Speyside Single Malt	Rich sherry-matured single malt continuing the legacy of the Grandeur line.
Balvenie French Oak 17-Year Pineau Cask Finish	The Balvenie	17 Years	Speyside Single Malt	Adds a new twist to Balvenie’s experimental oak range.

These releases reflect a growing consumer demand for authenticity, patience, and provenance, values that connect whisky lovers worldwide.

Awards and Global Recognition

The awards season underscored whisky’s ongoing excellence and innovation.

• Laphroaig Elements 2.0 was named Whisky of the Year by Whisky Advocate, a bold modern interpretation of Islay peat that blends tradition with experimentation.

• The International Whisky Competition awarded Best Whisky of the Year to Aultmore 25-Year-Old Oloroso Sherry Cask, a testament to Speyside’s mastery of sherry maturation.

Meanwhile, independent bottlers and new-world distilleries gained traction in international competitions, showing that great whisky is no longer confined to a few traditional regions.

Looking Ahead

Despite macroeconomic pressures, the whisky industry remains on solid ground. Distillers are adapting, consumers are evolving, and global interest continues to rise.

With Dallas Dhu’s reopening, Heaven Hill’s new facility, and a new wave of Japanese single malts on the horizon, 2025 promises to be another exciting year.

Whisky has always been about time, and 2024 proved that time, patience, and passion continue to shape one of the world’s most enduring spirits.