The alcohol beverage industry in India is gearing up for a record-breaking festive season, driven by the introduction of high-end products.
As the festive season kicks off, India’s alcoholic beverage industry is having a vibrant quarter, with expectations for record sales and numerous new product launches. Celebrations like Diwali and New Year typically account for around 30% of annual sales in the premium alcobev market, and 2024 is on track to follow that trend.
Radico Khaitan is leading the way, seeing a 15-20% increase in the volume of its premium products compared to previous years. To capitalize on the festive spirit, they are launching a special gold edition of Jaisalmer Indian Craft Gin, aimed at high-end consumers looking for a luxurious option for their celebrations.
Amrut Distilleries is also making a strong impact both in India and internationally, reporting consistent 30% growth during the festive season over the past five years. This year, they’ve launched a limited edition of their Two Indies Rum to tap into the rising interest in luxury spirits, appealing to both local and global markets.
Indri has gained attention with its Diwali Collector’s Edition 2024, which recently won a gold medal at the Whiskies of the World Awards. This recognition highlights the quality of Indian whiskies and strengthens the country’s reputation in the global fine whisky market. It also reflects a broader trend in the industry towards premium products, as brands increasingly target consumers willing to invest in high-quality spirits.
Last year, premium and luxury spirit sales rose by 12%, according to the Confederation of Indian Alcoholic Beverage Companies (CIABC). With strong consumer demand and an exciting lineup of new products, 2024 is expected to exceed those figures. Many brands are focusing on premium offerings as a strategy to navigate inflation and maintain profit margins, banking on the willingness of Indian consumers to pay for quality.
