 "Indian single malts beat global brands, capture 53% sales in 2023: Report")
Indian single malt sales have reportedly overtaken global players, a first-ever feat, according to an early estimate by the Confederation of Indian Alcoholic Beverage Companies (CIABC). The agency's estimates suggest that Indian Single malts accounted for nearly 53 per cent of total sales in 2023, Times of India reported on Monday.
According to the agency, the domestic brands lodged a growth of about 23 per cent in 2023, an impressive surge, compared to the imported brands at 11 per cent, Vinod Giri, the chief of CIABC told ToI. Of the total sales of around 6,75,000 cases (of nine litres each) of single malts, 3,45,000 cases came from Indian-origin makers.
The top Indian brands which contributed to this milestone included Amrut, Paul John, Radico Khaitan's Rampur, and Indri, among others. The top global brands to register the highest sales were Glenlivet, Macallan, Lagavulin, and Talisker, the agency noted.
Increasing love for homegrown Whiskey
The feat comes as the Indian whiskey makers have recently emerged as a top player in the $33 billion spirits market. Notably, Indian single malt Indri was crowned the world's best whisky in August 2023. Indri's $421 Diwali Collector's Edition won "Best in Show" at the Whiskies of the World Awards blind tasting in San Francisco in August, beating Scottish and American rivals.
One of the world's biggest whiskey markets, Indian single malts soared 144 per cent in 2021-22, beating the 32 per cent growth in Scotch, according to the data from IWSR Drinks Market Analysis. The agency further predicts that until 2027, the consumption of Indian malts is set to grow 13 per cent a year as compared to Scotch at 8 per cent.
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With increasing love for homegrown brands, Indri maker Piccadilly Distilleries had said earlier that it seeks to expand capacity by 66 per cent to 20,000 litres a day by 2025.
Meanwhile, Radico, in December, had said it expects Rampur sales to double each year, with focus on expanding the domestic market.
(With inputs from Reuters)