India Scotch Whisky Market Size Likely to Expand at a CAGR of 6.3% By 2033

India Scotch Whisky  Market size was valued at USD 3.8 Billion in 2024 and is expected to reach USD 6.8 Billion by 2033, at a CAGR of 6.3% during the forecast period 2024 – 2033.

India Scotch Whisky Market: Overview

The main ingredients of Scotch whisky are yeast, water, and malted barley. In certain mixes, other grains like corn or wheat may be used. Legally, whisky cannot be called Scotch until it has been matured in oak barrels for a minimum of three years.

The Indian Scotch whisky industry has experienced several noteworthy shifts in recent years, which have been fueled by shifting customer tastes and shifting market dynamics. One notable trend is the rising desire among India’s affluent and aspiring consumers for premium and super-premium Scotch whiskies.

The appreciation of premium spirits is growing along with disposable incomes and exposure to global trends, which is driving rising sales of luxury Scotch whisky companies. In the whisky market, too, there’s a movement towards experimentation and exploration as customers look for limited-edition releases and a variety of flavour characteristics.

The emergence of a whisky appreciation culture, propelled by tastings, festivals, and internet forums, is another noteworthy development. These activities help Indian consumers become more knowledgeable and conscious of Scotch whisky.

Additionally, there is an increasing emphasis on sustainability and transparency within the industry, with consumers showing interest in environmentally friendly production practices and ethical sourcing of ingredients, influencing purchasing decisions.

By raw material, the malt segment held the highest market share in 2023 and is expected to keep its dominance during the forecast period 2024-2033. The whisky market has been shifting towards premiumization in recent years, as evidenced by the noticeable trend of increased interest in and consumption of malt whiskies.

This trend has been driven by consumer appreciation for artisanal craftsmanship, distinctive flavour profiles, and the growing popularity of single malt expressions.

By quality, the premium segment held the highest market share in 2023 and is expected to keep its dominance during the forecast period 2024-2033. The premiumization trend in the Indian Scotch whisky industry is noteworthy, propelled by growing disposable incomes, changing customer preferences, and a need for status symbols.

More and more, customers are looking for premium, high-quality Scotch whiskies to display their sophisticated preferences and for special events.

The growing popularity of experiential dining and leisure activities in West India is fueling the market for premium spirits like Scotch whisky. This trend is fueled by urbanization, rising disposable incomes, and a thriving nightlife culture, which elevates consumer tastes and creates a market for high-end drinks.

The Pernod Ricard is most recognised for their pastis apéritifs, Pernod Anise and Ricard Pastis, which have an anise taste. The second-biggest retailer of wine and spirits worldwide.

Report Scope

CMI has comprehensively analyzed India Scotch Whiskey market. The driving forces, restraints, challenges, opportunities, and key trends have been explained in depth to depict in depth scenario of the market. Segment wise market size and market share during the forecast period are duly addressed to portray the probable picture of this Indian Scotch Whiskey industry.

The competitive landscape includes key innovators, after market service providers, market giants as well as niche players are studied and analyzed extensively concerning their strengths, weaknesses as well as value addition prospects. In addition, this report covers key players profiling, market shares, mergers and acquisitions, consequent market fragmentation, new trends and dynamics in partnerships.

List of the prominent players in the India Scotch Whisky Market:

• Diageo (Johnnie Walker Black & White)
• Pernod Ricard (Chivas Regal Ballantine’s)
• Allied Blenders & Distillers (Teacher’s Highland Cream)
• Bacardi (Dewar’s)
• Beam Suntory (Teacher’s)
• William Grant & Sons (Grant’s)
• Brown-Forman (Glenmorangie The Macallan)
• Whyte & Mackay (Whyte & Mackay)
• Radico Khaitan
• Amrut Distilleries (Amrut)
• United Spirits Limited (Black Dog)
• Paul John Distillery (Paul John)
• Sazerac (Monkey Shoulder)
• Ian Macleod Distillers (Isle of Skye)
• Loch Lomond Group (Loch Lomond)
• Glenfiddich (Glenfiddich)
• Glenmorangie (Glenmorangie)
• Balvenie (The Balvenie)
• Ardbeg Distillery (Ardbeg)
• Laphroaig Distillery (Laphroaig)
• Others

The India Scotch Whisky Market is segmented as follows:

By Raw Material

• Malt
• Wheat
• Rye
• Corn
• Blended
• Others

By Quality

• Premium
• High-End Premium
• Super Premium
• Others

By Target Consumer

• Teenagers
• Young Adults
• Middle-Aged Adults