Does
your whisky is really a whisky in the eyes of rest of the world? : Bonafide
research
If yes then my dear friend you may be
wrong. Just a few brands in India serve the real whisky as specified by the
European Union legislation. As most of the whisky produced in India is commonly
blend based on neutral spirits that are distilled from fermented molasses with
only a small portion consisting of traditional malt whisky, it qualifies as Rum
in many countries.
According to reports ‘India Whisky
Market Outlook, 2023’
published by Bonafide Research, Indian Whisky market has witnessed growth rate more
than 7% from past six years from 2011-12 to 2016-17. Whisky is generally
segmented into prestige, premium & super premium segments, from which the
most consumed segment is the prestige segment which accounts for more than half
of total consumption of whisky in India. These dynamics of Indian market are
expected to change in near future. India is observing a tremendous economic
growth which results into increasing purchasing power of Indian consumers. The India whisky market is forecasted to
consume more than 250 million cases of whisky in 2022-23, also the consumption of
Blended whisky is forecasted to decreases compared to other types. The market
in south will be matured market where as west and north still requires
development.
The Indian Alcoholic Beverages market
saw many challenges in past 2 years such as demonetization, national highway
ban, GST, Bihar liquor ban, etc which had a huge impact in sales of many
companies. But now the near future looks bright. As soon as the Indian economy
will be settling down the sales are expected to boost up and the results will
be defiantly better than the previous once. People switching from country
liquor to branded products is a good sign for Indian companies. It is observed
that still people lack brand awareness in many regions which a two-edge sword
for many companies could be where some could take advantage of situation by
focusing on increasing brand visibility, while for some it is a lost as some
one else is eating their pie. The Indian firms should defiantly target the
nations wealth for which India is so famous for i.e. The young generation.
India is couriered to be a young country compared to others owing to large
number of youths in its workforce. Focusing on them and attracting them would
defiantly provide competitive advantages to firms.
As most of the whisky produced in
India is categorised under IMFL (Indian made foreign liquor), which are mostly
molasses based carrying only 10 to 15 % of malt whisky, they cannot be tagged
as whisky and sold in European market. The good thing for Indian consumer is
rising growth of imported and single malt whisky which are defiantly real forms
of whisky and are found to be of better quality. This is the result of economic
development in India which increased the purchasing power of Indian consumers,
A good portion of whichis spent on such alcoholic beverages.
Report
Link: https://www.bonafideresearch.com/product/180520271/India-Whisky-Market-Outlook-2023
Major
Companies
Pernod Ricard India Private limited,
United Spirit
Limited (Diageo Group, Radico khaitan Limited,
Allied Blenders and Distillers
Private Limited,
Jagatjit Industries Limited,
John Distilleries Private Limited,
Tilaknagar Industries Limited,
Amrut Distilleries Private Limited,
SOM
Distilleries and Breweries Limited,
Bacardi India Private Limited
Report:India Whisky Market Outlook, 2023
Base Year: 2016-17, Estimated Year: 2017-18, Forecast
Year: 2022-23
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