India The number of rich people in the US has grown rapidly in the last few years. With this, the demand for expensive Scotch whisky and wine has increased. According to a Swiss researcher, sales of Scotch whisky and fine wine have registered double-digit growth, which is even higher than the rate of growth in consumption in the US and China. Zurich-based senior luxury brand builder and consumer experience expert Simon Joseph said that one subcategory where India has overtaken China and is growing at twice the rate of the US in the five-year annual rate is Scotch luxury whisky.
Exports equivalent to 16.7 crore bottles
According to data from the UK-based SWA, the equivalent of 167 million bottles were exported to India in 2023, up 27 per cent from 2019. “The US still leads Scotch whisky consumption in terms of value; India is now the largest consumer in terms of volume, slightly ahead of France. Scotland remains the largest exporter of Scotch whisky,” Joseph said.
The annual rate of increase
Joseph, a researcher at the Glion Institute of Higher Education, said India's growing affluent class is driving growth in high-end liquor sales. According to various data forecasts, the luxury Scotch whisky market is also growing at a rate of 16 per cent annually until the end of 2024. Joseph cited data from the UK-based Scotch Whisky Association (SWA) to say that Scotch whisky exports to India are set to grow at a rate of 66 per cent annually until 2022, ahead of the US, China and other important markets.
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