India Whiskey Market Size Expands at Significant CAGR of 4.61% During 2024–2030, Reaching USD 28.97 Billion by 2030

Published | 07 December 2023

India Whiskey Market is flourishing because of the growing interest in premium and imported whiskeys and effective marketing strategies to expand the consumer base across the country.

BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated the India Whiskey Market size at USD 21.13 billion in 2023. During the forecast period between 2024 and 2030, BlueWeave expects the India Whiskey Market size to grow at a significant CAGR of 4.61% reaching a value of USD 28.97 billion by 2030. Major growth drivers for the India Whiskey Market include rapid urbanization and rising alcohol consumption. Also, the whiskey industry in India is witnessing robust growth due to an increased demand for high-quality, premium alcoholic beverages, fueled by enhanced consumer purchasing power. Another driving factor for the market is the growing preference for whiskey among younger consumers in India is expected to catalyze market growth. However, stringent government regulations, high taxes on alcoholic beverages, and the availability of counterfeit products are anticipated to restrain the overall market growth during the period in analysis.

Opportunity: Favorable trends spurring demand for premium and luxury whiskeys

As deepening globalization and emerging opportunities continue to evolve, the Indian middle class is growing with increasing disposable income. These supportive trends lead individuals to spend more on discretionary items, including various types of premium and luxury whiskeys. As a result, there is increasing production of single-malt and aged-barrel whiskeys. Hence, BlueWeave expects the India Single Malt Scotch Market to boom at a robust CAGR of 15.04% during the forecast period between 2024 and 2030. It, in turn, is expected to positively impact the whiskey consumption trends in India during the period in analysis.

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Impact of Geopolitical Tension in India Whiskey Market

Geopolitical tensions affect the Indian whisky market in a variety of ways. Geopolitical concerns can have a wide-ranging impact on consumer sentiment, purchasing behavior, and market dynamics. Economic sanctions and geopolitical uncertainty, for example, can create a tough climate that affects whisky market growth and trends. "As geopolitical and economic turbulence impacts the market, alcohol drinkers are shifting their consumption patterns," adds Mark Meek, CEO of IWSR (International Wine & Spirits Record).Despite these hurdles, India's whisky market has demonstrated endurance and growth. The market is on an upward trend, with a favorable outlook for 2024 to 2030. Key market players use dynamic strategies to navigate the geopolitical landscape and promote market expansion.

India Whiskey Market – By Quality

By quality, the India Whiskey Market is divided into Premium, High-End Premium, and Super Premium segments. The premium segment holds the highest share in the India Whiskey Market by quality, due to evolving consumer preferences and a rising middle-class with increased disposable incomes. As lifestyles change and social status becomes more significant, consumers are increasingly opting for premium and high-quality whiskey brands. Additionally, a growing appreciation for the nuanced flavors and craftsmanship associated with premium whiskies contributes to the dominance of the premium whiskey segment. The India Whiskey Market's response to these shifts includes the introduction of diverse premium offerings, further solidifying the premium segment's leading position in India's dynamic Whiskey Market.

India Whiskey Market – By Region

Regionally, the India Whiskey Market is segmented as North India, South India, East India, and West India. South India dominates the India Whiskey Market, due to cultural preferences, historical significance, and a robust local whiskey production landscape. With a rich heritage in whiskey consumption, southern states like Karnataka, Kerala, Telangana, and Tamil Nadu exhibit strong local demand, contributing to the region's overall supremacy in India's whiskey market.

Competitive Landscape

Major players operating in the India Whiskey Market include Diageo India, Pernod Ricard India Ltd, Allied Blenders and Distillers Private Limited, John Distilleries Private Limited, Radico Khaitan Limited, Jagatjit Industries Limited, Tilak Nagar Industries Limited, Amrut Distilleries, and Piccadily Distilleries. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.

Don’t miss the business opportunity in the India Whiskey Market. Consult our analysts to gain crucial insights and facilitate your business growth.

The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of India Whiskey Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in India Whiskey Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.

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