The sales of beer and spirits in India witnessed the fastest expansion recorded in more than a decade and increased by 17-18 per cent in the last calendar year. According to the latest data released by the IWSR Drinks Market Analysis, the growth was a result of a low base and increased in-home consumption of liquor.
The data highlights the sharp recovery by an industry that was one of the worst-hit during the pandemic. As per the report, the sale of beer witnessed the biggest dip of 39 per cent in 2020, while the spirits industry had fallen by around 20 per cent.
As compared to the flat growth of the spirits market and a 3.7 per cent decline for beer in the last 5 years, the research agency predicts the Indian liquor market to see a surge of 4.4 per cent and 9.3% for beer over the next five years.
While whisky, brandy, and rum account for more than 97 per cent of the consumption in India, clear spirits registered stronger volume growth with vodka and white rum adding around 17.5 per cent in 2021. Gin too added over 50 per cent in the last calendar year.
"After two years in which the key April-June season has been impaired by lockdowns, beer sales are bouncing back swiftly as bars and restaurants revive and consumers seek refreshment in the record-high temperatures," IWSR analyst Jason Holway said.
The IWSR report further stated that the brandy and rum segment might need around four years to reclaim its previous peaks, Whisky will cross the 2019 numbers by the end of this year.
Published 08 June 2022, 09:18 IST