Report Overview

India Whiskey Market - Industry Trends & Forecast Report, 2030

India Whiskey Market size was estimated at USD 21.13 billion in 2023. During the forecast period between 2024 and 2030, the size of India Whiskey Market is projected to grow at a CAGR of 4.61% reaching a value of USD 28.97 billion by 2030. Major growth drivers for the India Whiskey Market include an increasing urbanization, rising alcohol consumption. Also, the whiskey industry is witnessing robust growth due to an increased demand for high-quality, premium alcoholic beverages, fueled by enhanced consumer purchasing power. As globalization and opportunities escalate, disposable income is on the rise, leading individuals to allocate more funds to alcohol consumption, particularly whiskey. The production of increased single-malt and aged-barrel whiskeys is expected to positively impact consumption trends during the forecast period. Another driving force is the growing preference for whiskey among younger consumers in India is expected to catalyze market growth.

India Whiskey Market – Overview

The India Whiskey Market encompasses the production, distribution, and consumption of whiskey in the country, featuring various types, including domestic and imported variants. Influenced by changing lifestyle trends, urbanization, and growing consumer purchasing power, the market experiences a rising demand for high-quality, premium alcoholic beverages. Globalization, evolving consumer preferences, and the production of diverse whiskey varieties contribute to its overall growth and dynamics within the Indian alcohol industry. Notably, Allied Blenders & Distillers Pvt Ltd, with its popular Officer’s Choice whiskey, holds a significant position, leveraging powerful sales nationwide and a well-connected delivery network through 43 production and bottling facilities across India.

India Whiskey Market

Growth Drivers

Growing Interest in Premium and Imported Whiskeys

India, despite being a major producer of domestic whiskey, ranks as the world's sixth-largest consumer of Scotch whisky. The IWSR's report highlights substantial double-digit growth, partly influenced by the regularization of the Uttar Pradesh market, resulting in an 11% volume increase and indicating ongoing prospects for the Indian whisky market. Fueled by a rising affluence among young consumers, this trend is redefining the geographical scope of whisky sales, extending beyond traditional hubs like Mumbai and Delhi to smaller cities. With 93% of traded whisky falling into the 'value' segment, there's significant potential for premiumization, evident in a 17% increase in the market's value last year. Over the last decade, the average whisky price in India nearly doubled to USD 7.18 per liter, highlighting the market's appeal and early stages of premiumization, making it a promising arena for the growth and influence of premium and imported whiskeys in India.

Restraints

Stringent Government Regulations and High Taxes on Alcoholic Beverages

Selling alcoholic beverages in India poses significant challenges due to inherent anti-alcohol sentiments at the local government level, influenced by philosophical and political factors favoring a strict stance on alcohol. With each of the 29 states independently governing alcohol policies, cross-border trade is prohibited, and state governments wield control over taxation, production, distribution routes, regulations, and pricing. Establishing a national presence necessitates operations in each state, a cumbersome and costly process. Compounding these challenges, marketing alcoholic brands in India demands creative strategies due to the prohibition of alcohol advertising, creating a 'dark market.' Companies navigating this landscape prioritize quality liquid, packaging, and distribution for brand launches with caution.

Impact of Geopolitical Tension in India Whiskey Market

The Indian whisky market is prone to changes caused by geopolitical tensions. Such conflicts can affect the market in a variety of ways, including pricing, customer demand, and overall market stability. Geopolitical spillovers, such as the likelihood of a US recession, might reduce demand, harming the Indian whisky market and other emerging economies. Furthermore, poor infrastructure and corruption-related charges can complicate the industry, making it difficult for both domestic and foreign whisky manufacturers to successfully navigate the market. These concerns underline the importance of business leaders remaining watchful and adapting their strategy in response to geopolitical changes.

India Whiskey Market

Segmental Coverage

India Whiskey Market – By Product Type

By product type, the India Whiskey Market is divided into India Whiskey, Scotch Whiskey, and Irish Whiskey segments. The India whiskey segment is expected to hold the highest share in the India Whiskey Market during the forecast period by product type. Premium Indian whiskies, such as Amrut, Paul John, Rampur, and GianChand, have gained significant popularity, with India's Indri Diwali Collector's Edition 2023 recently receiving the prestigious title of the best whisky in the world at the Whiskies of the World Awards. In a remarkable shift, Indian malt whiskies now constitute almost half of all premium single malt whiskies consumed in India, poised to surpass this figure in the coming year. The unique characteristics of Indian six-rowed barley, coupled with accelerated maturation in the warm Indian climate, contribute to the distinct flavor profile and aging efficiency. Indian single malt whisky sales experienced booming 142% growth in 2022, outpacing Scotch whisky. This surge extends across all price bands, reflecting a substantial potential for premiumization in India's whisky market. The rise of Indian premium whiskies aligns with global experts consistently rating them among the world's best, with exports expanding to over 60 countries.

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 this segment. The 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 Distribution Channel

By distribution channel, the India Whiskey Market is divided into Supermarkets & Hypermarkets, Online Stores, Restaurants & Bars, and Liquor Stores segments.

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. It is attributed to cultural preferences, historical significance, and a robust local whiskey production landscape. With a rich heritage in whiskey consumption, states like Keral, Karnataka, 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.

Recent Developments

• In July 2023 - India and Australia embarked on efforts to facilitate the export of Indian whiskey to the Australian market. A joint working group, established for this purpose, explored the viability of a mutual recognition agreement (MRA).

• In June 2023 - Bollywood star Sanjay Dutt entered the spirits market with the launch of 'The Glenwalk,' his own Scotch whisky brand. Partnering with Cartel & Bros, Living Liquidz, Drinq Bar Academy, and Morgan Beverages, Dutt's investment aligns with India's thriving whisky market, driven by its largest consumer base globally. Priced at Rs 1550 for a 700 ml bottle, 'The Glenwalk' is a blend of Scotch whiskies matured in traditional oak casks.

Scope of the Report

By Product Type

• Indian Whiskey

• Scotch Whiskey

• Irish Whiskey

By Quality

• Premium

• High-End Premium

• Super Premium

By Distribution Channel

• Supermarkets & Hypermarkets

• Online Stores

• Restaurants & Bars

• Liquor Stores

By Region

• North India

• South India

• East India

• West India

1. Research Framework
   1. Research Objective
   2. Product Overview
   3. Market Segmentation
2. Executive Summary
3. India Whiskey Market Insights
   1. Industry Value Chain Analysis
   2. DROC Analysis
      1. Growth Drivers
         1. Growing interest in premium and imported whiskeys
         2. Effective marketing strategies by whiskey brands have expanded their reach and consumer base in India
      2. Restraints
         1. Stringent government regulations and high taxes on alcoholic beverages
         2.  Availability of counterfeit products
      3. Opportunities
         1. Growing market for premium and luxury whiskeys
         2. E-commerce
      4. Challenges
         1. Competition
         2. Social and health concerns
   3. Technological Advancements/Recent Development
   4. Regulatory Framework
   5. Porter’s Five Forces Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of New Entrants
      4. Threat of Substitutes
      5. Intensity of Rivalry
4. India Whiskey Market: Marketing Strategies
5. India Whiskey Market Overview
   1. Market Size & Forecast, 2019–2030
      1. By Value (USD Billion)
   2. Market Share & Forecast
      1. By Product Type
         1. Indian Whiskey
         2. Scotch Whiskey
         3. Irish Whiskey
         4. Others
      2. By Quality
         1. Premium
         2. High-End Premium
         3. Super Premium
      3. By Distribution Channel
         1. Supermarkets & Hypermarkets
         2. Online Stores
         3. Restaurants & Bars
         4. Liquor Stores
         5. Others
      4. By Region
         1. North India
         2. South India
         3. East India
         4. West India
6. North India Video Conferencing Market
   1. Market Size & Forecast, 2019–2030
      1. By Value (USD Billion)
   2. Market Share & Forecast
      1. By Product Type
      2. By Quality
      3. By Distribution Channel
7. South India Video Conferencing Market
   1. Market Size & Forecast, 2019–2030
      1. By Value (USD Billion)
   2. Market Share & Forecast
      1. By Product Type
      2.    By Quality
      3. By Distribution Channel
8. East India Video Conferencing Market
   1. Market Size & Forecast, 2019–2030
      1. By Value (USD Billion)
   2. Market Share & Forecast
      1. By Product Type
      2. By Quality
      3. By Distribution Channel
9. West India Video Conferencing Market
   1. Market Size & Forecast, 2019–2030
      1. By Value (USD Billion)
   2. Market Share & Forecast
      1. By Product Type
      2. By Quality
      3. By Distribution Channel
10. Competitive Landscape
    1. List of Key Players and Their Range
    2. India Whiskey Company Market Share Analysis, 2023
    3. Competitive Benchmarking, By Operating Parameters
    4. Key Strategic Developments (Mergers, Acquisitions, Partnerships)
11. Impact of Geopolitical Tension in India Whiskey Market
12. Company Profile (Company Overview, Financial Matrix, Competitive landscape, Key Personnel, Key Competitors, Contact Address, and Strategic Outlook, SWOT Analysis)
    1. Diageo India
    2. Pernod Ricard India Ltd.
    3. Allied Blenders and Distillers Private Limited
    4. John Distilleries Private Limited
    5. Radico Khaitan Limited
    6. Jagatjit Industries Limited
    7. Tilak Nagar Industries Limited
    8. Amrut Distilleries
    9. Piccadily Distilleries
    10. Other prominent players
13. Key Strategic Recommendations
14. Research Methodology
    1. Qualitative Research
       1. Primary & Secondary Research
    2. Quantitative Research
    3. Market Breakdown & Data Triangulation
       1. Secondary Research
       2. Primary Research
    4. Breakdown of Primary Research Respondents
    5. Assumption & Limitation

*Financial information of non-listed companies can be provided as per availability.

**The segmentation and the companies are subject to modifications based on in-depth secondary research for the final deliverable.

List of Figures

Figure 1       India Whiskey Market Segmentation

Figure 2       India Whiskey Market Value Chain Analysis

Figure 3       Company Market Share Analysis, 2023

Figure 4       India Whiskey Market Size, By Value (USD Billion), 2019–2030

Figure 5       India Whiskey Market Share, By Product Type, By Value (USD Billion), 2019–2030

Figure 6       India Whiskey Market Share, By Quality, By Value (USD Billion), 2019–2030

Figure 7       India Whiskey Market Share, By Distribution Channel, By Value (USD Billion), 2019–2030

Figure 8       India Whiskey Market Share, By Region, By Value (USD Billion), 2019–2030

Figure 9       North India Whiskey Market Size, By Value (USD Billion), 2019–2030

Figure 10     North India Whiskey Market Share, By Product Type, By Value (USD Billion), 2019–2030

Figure 11     North India Whiskey Market Share, By Quality, By Value (USD Billion), 2019–2030

Figure 12     North India Whiskey Market Share, By Distribution Channel, By Value (USD Billion), 2019–2030

Figure 13     South India Whiskey Market Size, By Value (USD Billion), 2019–2030

Figure 14     South India Whiskey Market Share, By Product Type, By Value (USD Billion), 2019–2030

Figure 15     South India Whiskey Market Share, By Quality, By Value (USD Billion), 2019–2030

Figure 16     South India Whiskey Market Share, By Distribution Channel, By Value (USD Billion), 2019–2030

Figure 17     East India Whiskey Market Size, By Value (USD Billion), 2019–2030

Figure 18     East India Whiskey Market Share, By Product Type, By Value (USD Billion), 2019–2030

Figure 19     East India Whiskey Market Share, By Quality, By Value (USD Billion), 2019–2030

Figure 20     East India Whiskey Market Share, By Distribution Channel, By Value (USD Billion), 2019–2030

Figure 21     West India Whiskey Market Size, By Value (USD Billion), 2019–2030

Figure 22     West India Whiskey Market Share, By Product Type, By Value (USD Billion), 2019–2030

Figure 23     West India Whiskey Market Share, By Quality, By Value (USD Billion), 2019–2030

Figure 24     West India Whiskey Market Share, By Distribution Channel, By Value (USD Billion), 2019–2030

List of Tables      

Table 1        India Whiskey Market Share, By Product Type, By Value (USD Billion), 2019–2030

Table 2        India Whiskey Market Share, By Quality, By Value (USD Billion), 2019–2030

Table 3        India Whiskey Market Share, By Distribution Channel, By Value (USD Billion), 2019–2030

Table 4        India Whiskey Market Share, By Region, By Value (USD Billion), 2019–2030

Table 5        North India Whiskey Market Share, By Product Type, By Value (USD Billion), 2019–2030

Table 6        North India Whiskey Market Share, By Quality, By Value (USD Billion), 2019–2030

Table 7        North India Whiskey Market Share, By Distribution Channel, By Value (USD Billion), 2019–2030

Table 8        South India Whiskey Market Share, By Product Type, By Value (USD Billion), 2019–2030

Table 9        South India Whiskey Market Share, By Quality, By Value (USD Billion), 2019–2030

Table 10      South India Whiskey Market Share, By Distribution Channel, By Value (USD Billion), 2019–2030

Table 11      East India Whiskey Market Share, By Product Type, By Value (USD Billion), 2019–2030

Table 12      East India Whiskey Market Share, By Quality, By Value (USD Billion), 2019–2030

Table 13      East India Whiskey Market Share, By Distribution Channel, By Value (USD Billion), 2019–2030

Table 14      West India Whiskey Market Share, By Product Type, By Value (USD Billion), 2019–2030

Table 15      West India Whiskey Market Share, By Quality, By Value (USD Billion), 2019–2030

Table 16      West India Whiskey Market Share, By Distribution Channel, By Value (USD Billion), 2019–2030

Table 17      Diageo India  Company Overview

Table 18      Diageo India  Financial Overview

Table 19      Pernod Ricard India Ltd. Company Overview

Table 20      Pernod Ricard India Ltd. Financial Overview

Table 21      Allied Blenders and Distillers Private Limited Company Overview

Table 22      Allied Blenders and Distillers Private Limited Financial Overview

Table 23      John Distilleries Private Limited Company Overview

Table 24      John Distilleries Private Limited Financial Overview

Table 25      Radico Khaitan Limited Company Overview

Table 26      Radico Khaitan Limited Financial Overview

Table 27      Jagatjit Industries Limited Company Overview

Table 28      Jagatjit Industries Limited Financial Overview

Table 29      Tilak Nagar Industries Limited Company Overview

Table 30      Tilak Nagar Industries Limited Financial Overview

Table 31      Amrut Distilleries Company Overview

Table 32      Amrut Distilleries Financial Overview

Table 33      Piccadily Distilleries Company Overview

Table 34      Piccadily Distilleries Financial Overview