India Whiskey Market Report and Forecast 2024-2032

India Whiskey Market Report and Forecast 2024-2032

Market Outlook

According to the report the India whiskey market grew significantly in 2023. Aided by the growing predilection for premium alcoholic beverages and the expansive cultural acceptance of whiskey in India, the market is projected to further grow at a CAGR of 7.6% between 2024 and 2032 to reach a value of about USD 31.4 billion by 2032.

Whiskey, a distilled alcoholic beverage made from fermented grain mash, has been intertwined with India's cultural, social, and economic fabric for decades. Given its deep-rooted presence in the country, India stands as the world's largest consumer of whiskey. Indian-made foreign liquor (IMFL), which includes a broad spectrum of whiskey, attributes a substantial share to the alcoholic beverage market of the nation. The preference for whiskey in India is not just confined to its traditional variants but spans a spectrum that includes single malts, blended scotch, and bourbon.

A discernible driver propelling the India whiskey market growth is the burgeoning middle class with increasing disposable income. This socio-economic group, with its evolving tastes and growing purchasing power, is actively seeking out refined and superior quality products. This shift towards premium products is palpable in the whiskey segment, with many consumers opting for high-end, aged, and luxury whiskey brands.

In addition to the economic factors, the cultural facets also significantly influence the India whiskey market outlook. Celebrations, gatherings, and social events often feature whiskey, reflecting its deep-rooted acceptance and popularity. This cultural inclination towards whiskey is further amplified by the burgeoning hospitality sector, with numerous bars, pubs, and restaurants curating extensive whiskey menus to cater to the diverse palate of Indian consumers.

However, innovation remains the cornerstone for many brands operating in the Indian whiskey market. Many are delving into craft whiskey, organic variants, and experimenting with unique aging techniques to cater to the evolving preferences of consumers. Collaborations with international brands and the launch of limited-edition whiskeys further underscore the dynamic nature of the market.

As per the India whiskey market analysis, global influences also play a pivotal role in shaping the market landscape in India. The influx of international tourists, returning expatriates, and the global media have introduced a myriad of global whiskey brands to the Indian audience. This exposure has instigated a demand for international whiskey varieties, leading to an uptick in imports and the establishment of international whiskey brands in the Indian market.

Market Segmentation

The market can be divided based on type, raw material, quality, size, and region.

Market Breakup by Type

• American Whiskey
• Irish Whiskey
• Scotch Whiskey
• Canadian Whiskey
• Others

Market Breakup by Raw Material

• Malt
• Wheat
• Rye
• Corn
• Blended
• Others

Market Breakup by Quality

• Premium
• High-End Premium
• Super Premium
• Others

Market Breakup by Size

• 180 ml
• 375 ml
• 750 ml
• Others

Market Breakup by Region

• North Region
• East and Central Region
• West Region
• South Region

Competitive Landscape

The report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the India whiskey market. Some of the major players explored in the report are as follows:

• Pernod Ricard
• Allied Blenders And Distillers Private Limited
• Radico Khaitan Limited
• Diageo plc
• Amrut Distilleries
• Paul John Whisky
• Tulleeho Portals Pvt. Ltd
• Beam Suntory Inc.
• The Macallan Distillers Limited
• William Grant & Sons
• Others