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Guwahati, May 31: Made-in-India single malt whiskey brands are giving a tough competition to its global counterparts as Indian single malt segment has seen a steady rise in the market over the past few years.
As per reports, the indigenous single malt whisky brands now account for over a third of the market, compared to 15% five years ago. During the current financial year, the single malt segment in India is pegged at around 2. 1 lakh cases (each consists of 12 750ml bottles) growing 18% annually, while the Indian single malt industry grew 37% every year over six years. In comparison, imported single malts grew 13% during the period.
Experts have highlighted that the success of the indigenous brands have been due to the harsh Indian climate that enhances the taste and body of the whiskey. India's climate offers a speedy maturation that accelerates the ageing process. Moreover, experimentation by the Indian consumers in terms of flavours and forms particularly in the premium segment is keeping the business going.
A report by market research and business intelligence company EMR, the Indian whiskey market reached a volume of 1.35 billion litres in 2020. In the forecast period of 2022-2027, the market is expected to grow at a CAGR of 17 percent to reach 2.82 billion litres by 2026.