How the market of nation consuming half of the world’s whisky looks: Bonafide Research

Yes, its true India is said to be consuming around 50% of whisky out of total whisky consumed in world. The Indian whisky market consists of both local and International players who serve the Indian consumers with a large number of variants and brands.
According to reports ‘India Whisky Market Overview, 2018-2023’ published by Bonafide Research, Indian alone consumed more than 170 million cases of whiskey in year 2011-12. The consumption of whisky India is observed to be increasing day by day. This is result of many economical, political and demographical changes. Changes like increasing per capita income, changing consumption pattern, increasing awareness, increasing social acceptability, increasing youth generation etc will lead to increase of alcoholic consumption and would take the Indian market toward new heights.
The foreign players in Indian market have mainly entered in Indian market by acquiring many of the Indian brands. In year 2016-17, the most consumed whisky in Indian market was of United Spirit Limited which is Indian subsidiary of Diageo Group. Diageo acquired United spirits in year 2013-14 and it currently serves it customers with more than 5 whisky brands such as Bagpiper, McDowell’s NO.1, Royal Challenge, etc. The other major player in Indian whisky market is Pernod Richard, which is considered to be the fastest growing multinational in India. The famous brands of Pernod Richard Royal Stag, Imperial Blue, Chivas Regal, etc are doing exceptionally well in the market. The other major players in Indian market are Radico khaitan, Allied Blenders and Distillers, Jagatjit Industries, John Distilleries Private, Tilaknagar Industries Limited.
Most of the Indian whisky market is considered to be price driven where the consumer prefers to consume the prestige brands. Price has always remained concern for Indian consumer, whisky price in India are mostly controlled by state government, as respective states are liable to define and collect excise duty. Excise duty is one of the major sources of income of state government. In many states government provides distribution channels and retail stores where as in some region government provides contacts or licences for retail and sales of whisky. Many states have straightaway prohibited production and sales of Alcoholic beverages, they are often called dry states.
The players in Indian whisky market are currently said to focusing more on packaging and labelling which is one of the major sources of product differentiation. Many of the firms are also focusing on premiumization by improving their offerings and adding new brands to their premium range. The main focus of the companies is to attract the young generation with their attractive packaging and labelling because India has largest number of youths which are between age 18 to 28 and by making them loyal customers, companies tend to ensure their future sales.
Major Companies
Major companies that operate into the whiskey market in India 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
Pages:67, Figures: 30, Table 20

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This release was published on openPR.