Not Another Whisky Podcast · A Mitch & Daz Production

THE FUTURE OF WHISKY PART 1 WITH IAN MILLAR

·40 min·4 clips

Ian Millar warns that Scotch whisky's market leadership is threatened as countries like Japan and Ireland catch up in quality.

This episode features hosts Mitch and Daz Haldane beginning a three-part series on the future of the whisky industry, prompted by recent export declines and layoffs. Their first guest is industry veteran Ian Millar, who has over 50 years of experience in production and marketing at companies like Diageo and William Grant & Sons. Millar is positioned as a witness to multiple industry cycles, providing historical context for current challenges. Millar recounts a major production cut at Glenfiddich in the past, where a stillhouse was closed, reducing output by about 4.5 million liters. He notes that current downturns may see consumers trading down from expensive single malts to more affordable blended whiskies, which traditionally comprise about 92% of Scotch exports. He describes a recurring 25-30 year industry cycle where distilleries face closure if their spirit isn't unique or essential for blends. Millar points to rising global competition, citing well-made whiskies from Denmark and poor-quality examples from Switzerland as evidence of a changing landscape. He highlights Japan, America, and Ireland as significant competitors diluting Scotch's historic market leadership. A surprising claim is that the entire industry now relies almost exclusively on Oloroso sherry casks from a few major cooperages, which he fears will make future single malts taste too similar. Millar observes that the secondary auction market for whisky has dropped significantly, with bottles fetching only about 70% of their value from 18 months prior. He argues that a production downturn could be beneficial by reducing the cost of expensive oak casks, which are currently in a seller's market. An interesting insight is his view that industry regulations, while restrictive, are protective, as evidenced by the Scotch Whisky Association shutting down a Venezuelan company falsely labeling its product as "Scotch." The conversation is informal and reflective, blending personal anecdotes with broad industry analysis. The tone is conversational and educational, driven by the host's deep respect for the guest's lengthy career. This episode would appeal to industry professionals, investors, or serious whisky enthusiasts interested in economic cycles and production history. Listeners seeking only light-hearted tasting notes or brand promotions might find it too focused on business and market trends.

As heard by us

A serious whiskey conversation about cycles, pricing pressure, and what makes a distillery worth backing.

Not Another Whiskey Podcast gets more serious here, and that shift gives the conversation some useful weight. It stays on practical ground, moving through cycle length, production risk, pricing pressure, and which distilleries really deserve investment.

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Why you'd press play

Hear why whiskey's future may hinge on what only your distillery can make.

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