According to a new report by Expert Market Research, ‘India Whiskey Market Growth, Share, Size, Trends, Analysis, Report and Forecast 2023-2028’, gives an in-depth analysis of the India whiskey market, assessing the market based on its segments like applications, manufacturing process and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analyzing the market based on the SWOT and Porter’s Five Forces models.
The key highlights of the report include:
Market Overview (2018-2028)
- Historical Market Size (2022): 241.7 million
- Forecast CAGR (2023-2028): 7.6%
- Forecast Market Size (2028): 375.1 million
The demand for whiskey market in India has risen in recent years as the industry players have expanded their product portfolio. The market’s growth is also owing to factors, such as rising disposable income levels and daily preferences and consumer demand. The millennial generation, with its substantial buying power, is the market’s primary consumer. In addition, manufacturers have been releasing flavoured milk varieties with improved functional properties.
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Furthermore, the growth of consumer demand for whisky diversity in rapidly rising developing markets and consumers’ preference for lower alcohol variants and organic whisky, in light of a preference for healthier living, are major factors responsible for driving the market forward. Rise in production of single malt whiskey and barrel aged whiskey will also positively influence the product penetration in coming years.
India Whiskey Industry Definition and Major Segments
The word whiskey is a generic term for distilled alcoholic beverages made from fermented grain mash. A variety of grains (some of which may be malted) are used for various crops, including barley, rice, rye, and wheat.
Whisky is usually aged in wood casks, which can be used for the aging of wine or sherry, or else they may be made of burnt white oak. Wine and spirits are all tightly regulated in many parts of the world, with a variety of classifications.
In general, the standard features of all of the various groups and varieties of beverages are the fermentation of grains, distillation, and aging in wooden barrels. In cases of medical emergencies, it is also used as an alternative to alcohol to disinfect wounds.
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By type, the market is divided into:
- American Whiskey
- Irish Whiskey
- Scotch Whiskey
- Canadian Whiskey
Based on raw materials, the industry can be segmented into:
Based on quality, the industry can be segmented into:
- High End Premium
- Super Premium
Based on quality, the industry can be segmented into:
- 180 ml
- 375 ml
- 750 ml
By region, the industry is categorised into:
- North India
- South India
- West India
- East India
India Whiskey Market Trends
In India, whisky is one of the most common alcohol-based drinks. The market’s rapid growth can be due to customers’ growing needs for leisure, which has resulted in a move towards alcohol-based products.
The increase in the number of whiskey distilleries and advances in the production of alcoholic beverages is one of the main drivers of market development. An increase in working professionals’ social activities, such as hosting parties and celebrations and an increase in the number of people who pursue lifestyle changes, are all contributing to the market’s growth.
The market growth is also due to whiskey’s popularity among the consumers to show off their sophisticated tastes and styles, driving them to search for distinctive drinking experiences. Distribution and purchase networks are being strengthened, and online retailing sites, which are more customer friendly, further siding to the growth of the market.
South India is a significant whiskey user in India. Whiskey is also standard in Goa and Chhattisgarh, Tripura, Punjab, and Arunachal Pradesh. In addition to being a significant customer, India is also a significant producer of whiskey on a global scale. The rise in demand for whiskey, which is also margin accretive for the players, will be the primary driver of growth of the market.
Key Market Players
The major players in the market are United Spirits Limited, Allied Blenders and Distillers Pvt. Ltd, Pernod Ricard India (P) Ltd., Radico Khaitan Ltd.., Jagatjit Industries Limited, among Others.
The report covers the market shares, capacities, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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