According to a new report by Expert Market Research, ‘India Whiskey Market Report and Forecast 2021-2026’, gives an in-depth analysis of the Indian whiskey market, assessing the market based on its segments such as applications, manufacturing process and the main regions. The report tracks the latest industry trends and studies their impact on the overall market. It also assesses market dynamics, covering key demand and price indicators, as well as market analysis based on SWOT and Porter’s Five Forces models.
Note 1: For an overview of primary and secondary market data (2016-2026), along with business strategies and detailed market segmentation, please click on the sample demand report. The sample report will be delivered to you within 24 hours.
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Key highlights of the report include:
Market Overview (2016-2026)
- Historical market size (2020): $1.35 billion
- Forecast CAGR (2021-2026): 17%
- Forecast market size (2026): 2.82 billion USD
The demand for the whiskey market in India has increased in recent years as industry players have expanded their product portfolio. Market growth is also driven by factors such as rising disposable income levels, daily preferences, and consumer demand. The millennial generation, with its significant purchasing power, is the market’s leading consumer. In addition, manufacturers have released varieties of flavored milk with improved functional properties. In addition, growing consumer demand for whiskey diversity in rapidly growing developing markets and consumer preference for lower alcohol variants and organic whiskey, in light of a preference for a healthier life, are the major factors responsible for the progress of the market. Increasing production of single malt whiskey and cask aged whiskey will also positively influence product penetration in the coming years.
Industry definition and major segments
The word whiskey is a generic term for distilled alcoholic beverages made from fermented grain mash. A variety of grains (some of which may be malted) are used for various crops, including barley, rice, rye and wheat. Whiskey is usually aged in wooden barrels, which can be used for aging wine or sherry, or they can be burnt white oak. Wine and spirits are all tightly regulated in many parts of the world, with a variety of classifications. In general, the standard characteristics of all different beverage groups and varieties are grain fermentation, distillation, and aging in wooden barrels. In medical emergencies, it is also used as an alternative to alcohol to disinfect wounds.
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By Type, the market is split into:
- American whiskey
- Irish whiskey
- Scotch whiskey
- Canadian whiskey
On the basis of raw materials, the industry can be segmented into:
On the basis of quality, the industry can be segmented into:
- high end high end
On the basis of quality, the industry can be segmented into:
By region, the industry is classified into:
- North India
- South India
- West India
- Eastern India
In India, whiskey is one of the most common alcoholic beverages. The rapid growth of the market may be due to the growing leisure needs of customers, which has resulted in a shift towards alcohol-based products. Increase in the number of whiskey distilleries and advancement in the production of alcoholic beverages is one of the major drivers for the development of the market. An increase in the social activities of working professionals such as hosting parties and celebrations and an increase in the number of people pursuing lifestyle changes are all contributing to the growth of the market. The growth of the market is also due to the popularity of whiskey among consumers to showcase their sophisticated tastes and styles, driving them to seek distinctive drinking experiences. The distribution and purchasing networks are being strengthened and online sales sites, which are more user-friendly, continue to support the growth of the market.
South India is a major consumer of whiskey in India. Whiskey is also standard in Goa and Chhattisgarh, Tripura, Punjab and Arunachal Pradesh. Apart from being a major customer, India is also a major producer of whiskey globally. Rising demand for whiskey, which is also accretive to players’ margins, will be the main driver of market growth.
Main market players
The major market players are United Spirits Limited, Allied Blenders and Distillers Pvt. Ltd, Pernod Ricard India (P) Ltd., Radico Khaitan Ltd., Jagatjit Industries Limited, among others. The report covers market shares, capacities, expansions, investments, and mergers and acquisitions, among other latest developments of these market players.
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Note 2: As the novel coronavirus (COVID-19) continues to spread across the globe, our analysts are continuously monitoring the impact of this rapidly evolving situation on markets and consumer buying behaviors. Thus, our latest estimates and analysis on current market trends and forecasts will comprehensively reflect the effects of this emerging pandemic.
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