In this article, we are going to discuss the 16 best inexpensive whiskeys under $40 that don’t taste cheap. You can skip our detailed analysis of the global whiskey market, the slump in whiskey sales of an industry giant, and the recent acquisition in the whiskey industry, and go directly to 5 Best Inexpensive Whiskeys Under $40 that Don’t Taste Cheap.
Whiskey has been the drink of choice for many Americans since time immemorial, a constant companion as they have gone through life changing and trend setting phases throughout history. Its rise in the country was due in large part to the fact that it didn’t have to be imported. Unlike rum, which was made from sugarcane and molasses shipped from British-controlled islands in the Caribbean to distilleries in New England, whiskey could be distilled anywhere in America from domestically sourced raw ingredients. Corn, in particular, was plentiful in the New World. In fact, during the time of Andrew Jackson, it was believed that God had made corn for America and Americans for corn. Thus, they naturally thought of whiskey as their national drink.
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, 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.
2022 was also a great year for Scotch whisky and exports of Scotland’s native spirit hit $7.5 billion last year, the highest figures ever. Exports by volume rose substantially as well, with the number of 700 ml bottles shipped overseas up by 21%, to 1.67 billion.
Similarly, as we mentioned in our article – 25 Best Bourbon Whiskeys Under $50 – Bourbon is a $9 billion signature industry in Kentucky that generates more than 22,500 jobs. And if we’re looking at production and consumption, the state receives more than $286 million in tax revenue each year from its signature whiskey.
The positive economic impact of the beloved golden liquor is something we seldom consider when having a drink, but, given the facts, maybe it’s time we all raise a glass to it.
Slump in Whiskey Sales:
The Kentucky-based Brown-Forman Corporation (NYSE:BF-B) announced earlier this month that sales of its iconic Jack Daniel’s whiskey brand fell 1% in the first half of its current fiscal year – a steep decline when compared to the same period a year ago when they rose 9%. Overall whiskey sales of the spirits giant also witnessed a 2% YoY drop, with Woodford Reserve sales falling 3% and Old Forester down 5% – a sharp contrast from last year’s earnings report when sales of the premium brands jumped 39%.
The only positive news for the Brown-Forman Corporation (NYSE:BF-B) is that its Jack Daniel’s Tennessee Apple witnessed an eye-popping 50% rise in sales, thus reaffirming America’s rising interest in flavored whiskeys. The flavored whiskey segment has experienced significant growth in recent years, driven by the increasing consumer demand for unique and innovative alcoholic beverages. Around 18 million cases of flavored whiskey were sold in the U.S. last year, compared to less than 2 million a decade ago.
Another worrying factor for the Jack Daniel’s maker is the tariff set to take effect in 2024, which would apply a 50% tax on American whiskey being imported by the European Union. The move comes in retaliation for the U.S. tariffs on European steel and aluminum, and many in the industry are worried about the dire consequences it may have for their businesses.
The Brown-Forman Corporation (NYSE:BF-B) is one of the Best Alcohol Stocks to Own According to Hedge Funds.
Recent Acquisition in the Whiskey Industry:
In August, the brewing giant Molson Coors Beverage Company (NYSE:TAP) made its first spirits acquisition with the purchase of Bourbon and rye whiskey producer Blue Run Spirits. The Chicago-based brewer said that the deal marked another step in its ‘evolution’ into a total beverage company. Financial terms of the agreement were not disclosed.
The addition of Blue Run expands the Blue Moon maker’s footprint in spirits as it seeks to premiumise its portfolio. Furthermore, Molson Coors Beverage Company (NYSE:TAP) has established Coors Spirits Co. to house its existing spirits business, which includes Five Trail Blended American Whiskey, Barmen 1873 Bourbon, and ‘future innovation’.
The Molson Coors Beverage Company (NYSE:TAP) ranks among the Largest Alcohol Companies in the World in 2023.
With that said, here are the Highest Quality Cheap Whiskeys Under $40.
Pixabay/Public Domain
Methodology:
To collect data for this article, we referred to a number of sources, such as Liquor, VinePair, Men’s Journal, Reddit etc., looking for the Best Whiskeys Under $40. We picked whiskeys that appeared at least five times in these sources, assigned them a score based on their number of appearances, and ranked them accordingly. When two whiskeys had the same score, we ranked them by the price (excluding tax) of their 750 ml bottles.
Note: Prices have been sourced from multiple sources, including Wine-Searcher, Total Wine & More etc. As liquor prices can vary greatly across the United States, we cannot guarantee their accuracy.
16. 1792 Small Batch
Insider Monkey Score: 5
Price: $33.99
1792 is the year that Kentucky became a state, and the bottling of this special Bourbon commemorates that date. At 93.7 proof, 1792 Small Batch is a smooth and easy-to-drink whiskey that is sure to be enjoyed neat, on-the-rocks, or in your favorite classic Bourbon cocktail.
1792 is a premium Bourbon owned by the Sazerac Company, a global beverage alcohol giant that took over the brand and its distillery in 2009.
15. Evan Williams Single Barrel
Insider Monkey Score: 5
Price: $25.99
Evan Williams Single Barrel is the only vintage dated single barrel Bourbon on the market. Similar to the way vintage wines are selected, the company’s distillers hand-select individual barrels that meet the specifications they’ve established. Then each bottle is marked with the vintage date it was put into oak, along with the year it was bottled, and the exact barrel number of the single barrel that the Bourbon was drawn from. The Even Williams brand is also owned by the family-owned Heaven Hill Distillery
The Evan Williams Single Barrel is a Great Bourbon Under $30.
14. Johnnie Walker Black Label
Insider Monkey Score: 5
Price: $26.99
Johnnie Walker is the Best-Selling Scotch Whisky Brand in the World. Its prestige status was trumped with the launch of the super swanky Blue Label in the late 1980s, but the iconic Black Label also never lost its cache. Across the world today, a bottle of Johnnie Walker Black Label is a recognised currency and symbol of excellence.
With over 1.14 million 9-liter cases sold in 2021, Johnnie Walker Black Label sits among the Most Popular Scotch Whisky Brands in USA.
13. Mellow Corn
Insider Monkey Score: 5
Price: $19.99
Mellow Corn is produced in accordance with a unique set of regulations that define Straight Corn Whiskey. It is distilled from a mash of at least 80% corn and aged for four years in a once-used Bourbon barrel. Heaven Hill Distillery is one of the few remaining producers of this unique whiskey.
Mellow Corn is a high-proof American corn whiskey that is not too expensive.
12. Glenmorangie The Original
Insider Monkey Score: 6
Price: $34.99
First released more than 175 years ago, the original Glenmorangie 10 year old is known for its mellow tones and delicacy of flavor. To give Original a delicious, go-anywhere finesse, it is made in giraffe-high stills, then aged for 10 years in Bourbon casks to absorb all manner of delectable flavors.
One of the most popular single malt Scotch brands in Scotland, Glenmorangie has been crafting Highland single malt whisky since 1843. As a company within Moët Hennessy-Louis Vuitton (LVMH), The Glenmorangie Company benefits from the resources and ‘savoir faire’ of the world leader in luxury goods, whilst being entirely independent.
11. Larceny Small Batch
Insider Monkey Score: 6
Price: $28.99
Discover a taste worth stealing. Made with wheat instead of rye as the secondary grain, this wheated Bourbon delivers a smoother taste that’s hard to resist.
Larceny is the heir to the wheated Bourbons that make up the historic Old Fitzgerald franchise that Heaven Hill acquired in 1999. In fact, it is the somewhat controversial history of John E. Fitzgerald and his eponymous Bourbon brand that provides the story, and name, to Larceny Bourbon.
The Larceny Small Batch Bourbon is placed among the Best Whiskeys Under $30.
10. Elijah Craig Small Batch
Insider Monkey Score: 7
Price: $28.99
Elijah Craig is credited as the first distiller to age his whiskey in charred oak barrels, earning his place in history as the ‘Father of Bourbon.’ The charred barrel transformed the clear liquid inside into an intense amber whiskey made rich with the flavors of the wood, which we now recognize as Bourbon.
Elijah Craig Small Batch is distilled, aged, and bottled in Kentucky from a traditional Bourbon mash bill of 78% corn, 10% rye, and 12% malted barley, and then aged for 8 to 12 years in Level 3 charred oak barrels.
Elijah Craig Small Batch is placed among the Best Bourbons for an Old Fashioned.
9. Monkey Shoulder Blended Scotch
Insider Monkey Score: 7
Price: $27.49
Produced by William Grant & Sons, Monkey Shoulder is a blend of three main single malt whiskies – Glenfiddich, Balvenie, and Kininvie – all from Speyside, the spiritual home of whisky. Back in 2018, the brand enlisted a truck topped with a giant shaker, called the ‘Monkey Mixer’, to drive around the 50 states with a mission to redefine Scotch’s role in the cocktail industry.
Monkey Shoulder is counted among the Best Budget Scotch Whiskies.
8. Chivas Regal 12 Year
Insider Monkey Score: 7
Price: $22.99
Considered by many as the first luxury blended whisky, Chivas Regal is one of the most famous Scotch whisky brands in the world, and for good reason. Every sip of the whisky is silky smooth and full of the world-famous Speyside malt flavors, but each blend also has its own unique taste and aroma.
The Scotch whisky arm of Pernod Ricard, Chivas Brothers, saw net sales soar by 25% during the company’s 2022 fiscal year, and the Chivas Regal brand saw global growth of 29% during FY22, as well as a boost of 42% in emerging markets.
7. Russell’s Reserve 10 Year
Insider Monkey Score: 8
Price: $37.99
Legendary Bourbon-makers Jimmy and Eddie Russell used their vast knowledge to craft this 10-year-old classic. Aged in No. 4 alligator char barrels and bottled at 90 proof, this is the Russell’s Reserve Bourbon that started it all.
In 2009, Wild Turkey – and thus Russell’s Reserve – was acquired by the Campari Group, one of the largest companies in global spirits. Since the acquisition, Campari has invested over $300 million into expanding Wild Turkey and Russell’s Reserve’s production capacity.
6. Old Grand-Dad 114
Insider Monkey Score: 8
Price: $30.99
Old Grand-Dad is one of the oldest and most storied brands, yet it receives little attention from Bourbon enthusiasts or marketing effort from the brand’s current owner, Beam Suntory. This might be simply due to the fact that it is a legacy brand offered at a head-scratching low price point that likely has little room for anything other than simply fulfilling the existing supply chain and keeping existing consumers happy, and potentially drawing them deeper into Beam’s other brands.
Unbelievably smooth for a spirit of this strength, the Old Grand-Dad 114 is counted among the Best Bourbons in the World.
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Suggested Articles:
- 25 Best Selling Whiskey Brands in the US
- 20 Truly Extraordinary Whiskeys Under $75
- 25 Most Popular Whiskey Brands in the World
Disclosure: None. 16 Best Inexpensive Whiskeys Under $40 that Don’t Taste Cheap is originally published on Insider Monkey.