Demand for premium liquor records 32% growth in state
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Lucknow: Demand for premium liquor in Uttar Pradesh is showing a consistent upward trend. According to a recent report by ISWAI (International Spirits and Wines Association of India), demand for the imported category witnessed a compound annual growth rate (CAGR) of 32% between 2019 and 2024.
In contrast, the economy and medium segments recorded growth of 4 and 7% in the same period.
The country liquor, however, continues to dominate the sector, with 65% of the market share. The report indicates that India is the fourth-largest market for alcoholic beverages in the world, trailing behind China, US and Japan.
While the market value of the alcoholic beverages industry in the country is pegged at around Rs 4.97 lakh crore, that of Uttar Pradesh is estimated to be Rs 56,000 crore (in FY 2023-24).
The state generated Rs 45,570 crore as excise duty in the 2023-24 financial year. The report, which was released on July 9 during the excise investors summit in Lucknow, shows a gradual premiumisation in consumer preference and growing economic prosperity across the key cities of the state.
"Alcoholic beverage industry, through its linkages with agriculture, manufacturing, retail, tourism and hospitality, is emerging as a vital enabler for UP's economic growth," said excise commissioner Adarsh Singh.
ISWAI regional director Parvinder Singh said: "Consumers in UP are shifting their preferences towards high-quality and premium categories of liquor. Considerable potential exists for further premiumisation in the sector, and the state can generate increased revenue by leveraging premium and higher-taxed segments."
According to the report, the demand for spirits (whisky, vodka, rum, brandy and gin) increased from 23,177 crates in FY 2022-23 to 24,030 in FY 2023-24 (one crate contains 12 bottles, each having 750 ml of alcohol). The highest growth was witnessed for imported products in the corresponding period. Country liquor accounts for 65% of the demand, followed by beer (19%) while IMFL accounts for the remaining 16%.
In terms of revenue, sales of country liquor brands account for 52%, IMFL 34% while beer accounts for 14%.
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