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Mint
18 hours ago
- Business
- Mint
India is the world's fastest-growing alcohol market when global demand cools
India isn't just raising a toast, it's raising the bar. The country is now the fastest-growing alcohol market among the world's top 10 liquor-consuming nations even as global demand dipped. Beer outpaced all other categories in India in 2024, while whisky continues to dominate, putting the country on a path to cross $50 billion in alcohol sales by 2031, according to new data exclusively shared with Mint by London-based spirits consultant IWSR. India could even possibly dethrone France and the US as the world's top Scotch market by volume by 2027, it said. The country's alcohol market grew 9% by value last year, reaching just under $40 billion, IWSR said. That's an increase of over $3 billion in 12 months, marking India's entry into the top five by value last year. Volume was up 6%, placing the country eighth globally by size—just ahead of the UK and Spain. Rising urbanization, higher incomes and a young population are driving demand, especially for premium brands. 'India is a spirits market dominated by whisky, with a total alcohol by volume momentum that most markets presently lack. Scotch remains the pinnacle for many, almost certainly made more accessible by the recently announced India-UK FTA," said Jason Holway, a senior consultant at IWSR. 'It seems a question of when, not if, demand for Scotch overtakes that seen in France and the US, with both Bottled in India (BII) and Bottled in Origin (BIO) likely to contribute." Also read | Why India is the toast of the global alcohol market: Its young voters BII is alcohol imported into India in large quantities and bottled domestically, typically priced between ₹1,000 and ₹2,000, covering both local and international brands. BIO includes liquo fully produced and bottled overseas—such as Scotch whisky from the UK—and then imported as a finished product. Global growth cools India's growth contrasts with global trends. Worldwide alcohol consumption dipped 1% by volume in 2024, even as value edged up 1%. 'Contractions in the US and China contrasted sharply with gains in India and Brazil in 2024," IWSR said. 'The largest contributors to value growth over the next decade are developing markets, India, Brazil, Mexico and South Africa, with an expected incremental growth of $28 billion." Still, IWSR predicts the global alcohol market will grow by $34 billion, or 3% by value, over the next 10 years despite economic and political challenges, with India expected to contribute much of that growth. From 2024-29 alone, the market is projected to grow by $16 billion, or 1%, across 160 countries. Beer on a high India's beer was the fastest-growing category, rising 9% in 2024. Wine followed with 4% growth and spirits grew 3%. According to IWSR's forecast, the country is expected to contribute nearly 50% of global alcohol market value growth through 2034, led by whisky and beer. India is already one of the largest destinations for Scotch shipments—including bulk supplies used in domestic blends—and is projected to become the world's third most valuable alcohol market by 2032, overtaking the UK and trailing only China and the US. Whisky drives the consumption. Dark spirits—whisky, brandy, dark rum and gold tequila—made up 95% of all spirits consumed in the country. Read this | PVR Inox seeks to widen alcohol sales in select premium markets to combat shrinking audiences Rising disposable incomes and a deeper understanding of premium and single malts have also contributed to the growth of India becoming one of the world's largest whisky-consuming markets, said Paul P. John, chairperson of John Distilleries Ltd. 'In addition, the growing affordability of imported brands is further boosting brand awareness." Scotch whisky alone saw a 6% jump by volume and 7% by value in 2024 over the year prior. It's likely to get a further fillip from the recently signed India-UK free trade agreement that's expected to make imported Scotch more accessible. This will open up the market to UK spirit manufacturers too. Last month, India and the UK agreed to cut the 150% import duty on Scotch and gin to 75% to start with, and gradually lower it to 40% over the next 10 years. Mint recently reported that Diageo India, the maker of Johnnie Walker, Ketel One, Tanqueray, Captain Morgan and McDowell's No. 1, expects the move would lead to a high single-digit drop in retail prices for consumers. Demand is also rising fast enough that India could soon outpace long-time Scotch markets like France and the US, IWSR said Demographic advantage Alcohol sales in India are expected to grow 8-10% to ₹5.3 lakh crore in FY26, with profits also likely to improve, Mint reported recently, citing data from Crisil ratings. The report, based on 25 major liquor firms, estimates a 5–6% rise in overall volumes, led largely by spirits like whisky and rum, which contribute nearly 70% of industry revenue. 'India's spirits market is set for strong growth over the next decade, and we're very bullish," said Paramjit Singh Gill, CEO of the consumer division at Globus Spirits, which makes Terai gin and Doaab single malt, among others. 'Rising disposable incomes in tier 2 and 3 cities are driving demand, with more consumers in these markets willing to spend on premium spirits." Consumption is also propelled by a young, drinking-age population. The country is projected to reach the height of its demographic advantage around 2041, when people aged 20 to 59—the core working-age group—are expected to make up 59% of the total population, according to the Economic Survey of 2018-19. Read this | Following listing, beer maker Kati Patang plans to acquire and incubate small alcohol businesses to expand While the base is still small, Gill expects the premium segment to grow at a high double-digit rate. 'Younger consumers are also prioritizing experiences and exercising greater choice. Plus, millions of Indians are entering the legal drinking age each year, further expanding the market." Still, while the appetite is strong, the average price point remains modest. Just 1% of the country's spirits market in 2024 was classified as 'premium" (priced above ₹2,820 for a 750ml bottle). Most of the market—93%—sat firmly in the 'value" segment, with bottles priced between ₹180 and ₹1,133
Time of India
a day ago
- Business
- Time of India
Scotch Meets Match; Local Single Malts Win Hearts
HighlightsFor the first time, Indian single malt whisky outsold single malt Scotch in 2024, marking a significant shift in consumer preferences towards home-grown brands. The rise in popularity of Indian single malts is attributed to factors such as product quality, packaging, pricing, and a growing sense of nationalism among consumers. With over a dozen new Indian single malt brands entering the market, experts note that the current sales figures reflect channel sales rather than end-user consumption, indicating potential for further growth in the segment. More Indians are raising a toast to home-grown single malt whisky than ever before, reflected in rising sales of local brands, overshadowing the long-desired single malt Scotch. For the first time, among single malts, Indian whisky outsold Scotch in 2024. This was helped by increasing affinity for local premium malts even as sales of the Scotch fell. "After advancing by more than 75% in 2023, annual sales of Indian single malts came within 9,000 nine-litre cases of surpassing sales of single malt Scotch," said alcohol market researcher IWSR. "With a further advance in sales of more than 25% in 2024, Indian single malts significantly outsold their Scotch counterparts." IWSR did not divulge share sales performance data for individual Indian or Scottish single malts in the country. "Sales of single malt Scotch fell back in 2024, further than they did in 2020, during the pandemic, and while the category remains aspirational, it seems many consumers have transferred at least some of their interest to Indian single malts," it said. Single malt refers to whisky from one distillery-prized for its unique taste-as opposed to a blend of whiskies. Amrut and Paul John were the first Indian single malt brands, launched in the 2000s. However, in the past three years, the market saw a flurry of new single malt distillers, including Piccadily Agro-which launched Indri and Kamet - and the likes of Radico Khaitan with its Rampur single malt. Quality on a Par | page 7 Global liquor companies such as Pernod Ricard and Diageo are also adding their own Indian brands such as Longitude 77 and Godawan. "Consumers don't shy away from stocking Indian single malts, along with other world whiskies, as the product quality, packaging and price is at par or even better than imported ones. The trend is similar to how Japanese malts gained popularity a few years ago," said Rakshit Jagdale, managing director, Amrut Distilleries . "Indian malts are also riding the wave of increased sense of nationalism and pride where they no longer perceive Scotch to be better than Indian single malts." For decades, the success of single malt whisky has been closely tied to perceptions about age, quality and price-the older the better, and more expensive. Indian single malts don't carry age statements because of local climatic conditions. In Scotland, for instance, the evaporation during barrel ageing-known as the angels' share-is just 2-3% a year, while in the heat of India, it is commonly more than 10%. Most Indian single malts, therefore, have an optimum maturation of five to eight years. "Indian single malts are progressively contributing to the expansion of the overall single malt segment. This will further enable faster transition for even more consumers to upgrade to single malt scotch brands like Glenfiddich and The Balvenie," said Sachin Mehta, country director, India, and Indian subcontinent at William Grant & Sons. New Names With more than a dozen new Indian single malt brands entering the market, the initial numbers reflect sales to the channel and not end-user consumption, note experts. These brands also offer a wider choice and availability in retail stores, as well as the advantage of sales through the defence ministry's Canteen Stores Department, where the sale of imported brands is barred. While the current strong consumer interest in Indian single malts is expected to sustain, growth momentum may be impacted by availability. Investments made in the last two years in whisky production will take at least five years to yield mature whisky. Paul John, founder of John Distillers, said many companies are currently scrambling to launch single malts. "We have an advantage and a great start as far as the single malt is concerned with products which cater from newcomers to seasoned connoisseurs. The launch of multiple expressions with clear differentiation in liquid profiles supports our portfolio's appeal," he said.
Economic Times
3 days ago
- Business
- Economic Times
Scotch meets match; local Single Malts win hearts
More Indians are raising a toast to home-grown single malt whisky than ever before, reflected in rising sales of local brands, overshadowing the long-desired single malt Scotch. For the first time, among single malts, Indian whisky outsold Scotch in 2024. This was helped by increasing affinity for local premium malts even as sales of the Scotch fell. "After advancing by more than 75% in 2023, annual sales of Indian single malts came within 9,000 nine-litre cases of surpassing sales of single malt Scotch,' said alcohol market researcher IWSR. 'With a further advance in sales of more than 25% in 2024, Indian single malts significantly outsold their Scotch counterparts." IWSR did not divulge share sales performance data for individual Indian or Scottish single malts in the country. 'Sales of single malt Scotch fell back in 2024, further than they did in 2020, during the pandemic, and while the category remains aspirational, it seems many consumers have transferred at least some of their interest to Indian single malts,' it said. Single malt refers to whisky from one distillery—prized for its unique taste—as opposed to a blend of whiskies. Amrut and Paul John were the first Indian single malt brands, launched in the 2000s. However, in the past three years, the market saw a flurry of new single malt distillers, including Piccadily Agro—which launched Indri and Kamet — and the likes of Radico Khaitan with its Rampur single malt. Global liquor companies such as Pernod Ricard and Diageo are also adding their own Indian brands such as Longitude 77 and Godawan. 'Consumers don't shy away from stocking Indian single malts, along with other world whiskies, as the product quality, packaging and price is at par or even better than imported ones. The trend is similar to how Japanese malts gained popularity a few years ago," said Rakshit Jagdale, managing director, Amrut Distilleries. "Indian malts are also riding the wave of increased sense of nationalism and pride where they no longer perceive Scotch to be better than Indian single malts." For decades, the success of single malt whisky has been closely tied to perceptions about age, quality and price—the older the better, and more expensive. Indian single malts don't carry age statements because of local climatic conditions. In Scotland, for instance, the evaporation during barrel ageing—known as the angels' share—is just 2-3% a year, while in the heat of India, it is commonly more than 10%. Most Indian single malts, therefore, have an optimum maturation of five to eight years. "Indian single malts are progressively contributing to the expansion of the overall single malt segment. This will further enable faster transition for even more consumers to upgrade to single malt scotch brands like Glenfiddich and The Balvenie,' said Sachin Mehta, country director, India, and Indian subcontinent at William Grant & Sons. NEW NAMES With more than a dozen new Indian single malt brands entering the market, the initial numbers reflect sales to the channel and not end user consumption, note experts. These brands also offer a wider choice and availability in retail stores, as well as the advantage of sales through the defence ministry's Canteen Stores Department, where the sale of imported brands is barred. While the current strong consumer interest in Indian single malts is expected to sustain, growth momentum may be impacted by availability. Investments made in the last two years in whisky production will take at least five years to yield mature whisky. Paul John, founder of John Distillers, said many companies are currently scrambling to launch single malts. "We have an advantage and a great start as far as the single malt is concerned with products which cater from newcomers to seasoned connoisseurs. The launch of multiple expressions with clear differentiation in liquid profiles supports our portfolio's appeal,' he said.
Time of India
3 days ago
- Business
- Time of India
Scotch meets match; local Single Malts win hearts
Live Events (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel More Indians are raising a toast to home-grown single malt whisky than ever before, reflected in rising sales of local brands, overshadowing the long-desired single malt Scotch. For the first time, among single malts, Indian whisky outsold Scotch in 2024. This was helped by increasing affinity for local premium malts even as sales of the Scotch fell."After advancing by more than 75% in 2023, annual sales of Indian single malts came within 9,000 nine-litre cases of surpassing sales of single malt Scotch,' said alcohol market researcher IWSR.'With a further advance in sales of more than 25% in 2024, Indian single malts significantly outsold their Scotch counterparts." IWSR did not divulge share sales performance data for individual Indian or Scottish single malts in the country. 'Sales of single malt Scotch fell back in 2024, further than they did in 2020, during the pandemic, and while the category remains aspirational, it seems many consumers have transferred at least some of their interest to Indian single malts,' it malt refers to whisky from one distillery—prized for its unique taste—as opposed to a blend of whiskies. Amrut and Paul John were the first Indian single malt brands, launched in the 2000s. However, in the past three years, the market saw a flurry of new single malt distillers, including Piccadily Agro—which launched Indri and Kamet — and the likes of Radico Khaitan with its Rampur single liquor companies such as Pernod Ricard and Diageo are also adding their own Indian brands such as Longitude 77 and Godawan.'Consumers don't shy away from stocking Indian single malts, along with other world whiskies, as the product quality, packaging and price is at par or even better than imported ones. The trend is similar to how Japanese malts gained popularity a few years ago," said Rakshit Jagdale, managing director, Amrut Distilleries . "Indian malts are also riding the wave of increased sense of nationalism and pride where they no longer perceive Scotch to be better than Indian single malts."For decades, the success of single malt whisky has been closely tied to perceptions about age, quality and price—the older the better, and more expensive. Indian single malts don't carry age statements because of local climatic Scotland, for instance, the evaporation during barrel ageing—known as the angels' share—is just 2-3% a year, while in the heat of India, it is commonly more than 10%. Most Indian single malts, therefore, have an optimum maturation of five to eight years."Indian single malts are progressively contributing to the expansion of the overall single malt segment. This will further enable faster transition for even more consumers to upgrade to single malt scotch brands like Glenfiddich and The Balvenie,' said Sachin Mehta, country director, India, and Indian subcontinent at William Grant & more than a dozen new Indian single malt brands entering the market, the initial numbers reflect sales to the channel and not end user consumption, note experts. These brands also offer a wider choice and availability in retail stores, as well as the advantage of sales through the defence ministry's Canteen Stores Department, where the sale of imported brands is the current strong consumer interest in Indian single malts is expected to sustain, growth momentum may be impacted by availability. Investments made in the last two years in whisky production will take at least five years to yield mature John, founder of John Distillers, said many companies are currently scrambling to launch single malts. "We have an advantage and a great start as far as the single malt is concerned with products which cater from newcomers to seasoned connoisseurs. The launch of multiple expressions with clear differentiation in liquid profiles supports our portfolio's appeal,' he said.
Miami Herald
3 days ago
- Entertainment
- Miami Herald
‘Secret Lives of Mormon Wives' Has a Big Difference From Other Reality TV
The Secret Lives of Mormon Wives is filled with a lot of the same elements that make other reality shows popular, except for one major difference. For the most part, the women on the show don't drink alcohol. "I think that's what makes the show even crazier," Taylor Frankie Paul told Newsweek. "We're kind of crazy, but we're sober, so it makes it that much crazier if you think about it." Reality television shows often put groups of people, whether it's friends or strangers, together to party and hang out while drinking to fuel emotions and some drama. And, for decades, it's been a winning formula for high ratings for reality television shows, although it's come with its own set of problems in the form of lawsuits alleging the shows push alcohol on cast members and put them in harmful situations. Paul has had her own problems with alcohol and was ordered to undergo a substance abuse evaluation after she was arrested for domestic violence in 2023. While Paul wouldn't necessarily categorize the cast as a "good example" for people given their own craziness, she said she is the perfect example of someone who thought they needed alcohol to have fun and learned it's actually not necessary. "I just felt like socially for me, it was like, I don't think it'll be that fun without it," Paul, who's been sober for several years, said. "It's a mind shift. Get out of the mindset that you need that. And it's been really good for me to have a group of girls that don't need it and we still have so much fun." Alcohol has been a staple of American life for decades and is an estimated $600 billion industry in the United States alone. But, Generation Z is charting a new path where alcohol consumption may be lower than their older counterparts. A Gallup survey from 2023 showed the share of people under the age of 35 who ever drink dropped 10 points to 62 percent from 72 percent in 2001 to 2003. It's given rise to the "sober curious" lifestyle trend, and the low or no-alcohol beverage industry is expected to grow by 25 percent between 2022 and 2026, according to IWSR, a drinks market analysis firm. Given how central alcohol is to so many reality shows, Paul said Secret Lives of Mormon Wives offers an alternative for viewers and bucks the narrative that you need alcohol to have fun. The cast has parties at their houses, and they even traveled to Las Vegas for a girls' weekend. While the cast admitted it might not seem like the most natural place for a group of Mormon women to visit, they spent time at clubs and casinos. They even acknowledged that just because they don't drink, it doesn't mean they don't love to dance, just like any other 20- or 30-something woman. "I think it's awesome to showcase that you can go out and have fun without alcohol involved," Paul said. Secret Lives of Mormon Wives broke records for Hulu and has left fans absolutely clamoring for new episodes. Along with sobriety, the show tackles a host of issues, including infertility, religion, divorce and co-parenting, and the changing role of women in traditional cultures. That openness is why Paul thinks the show has become so popular. Given the different paths the women take and the parts of their lives that they share, there's likely at least one thing that everyone who watches the show can relate to or sympathize with. "The Housewives, obviously, are a little older or there's Teen Mom where they're young, but we're kind of smack in the middle where we're young moms, either single, divorced or married, in the church or not. It's just everything," Paul said. "I think it just resonates with a huge crowd." Related Articles 'Secret Lives Of Mormon Wives': Taylor Frankie Paul On What To Expect NextIs There a Season 2, Part 2 of 'Secret Lives of Mormon Wives'? What We Know 2025 NEWSWEEK DIGITAL LLC.
