Indri fastest growing single malt globally

Indri fastest growing single malt globally

As India’s single malt whisky ranks up the charts worldwide, Indri, which has observed a growth of over 500 per cent, has now crossed a major milestone of the 1 lakh cases mark within two years of its launch, becoming the fastest-growing single malt whisky in the world, reported ET Retail quoting the company’s press release.

“In a market once dominated by imported labels, Indri stands tall as a beacon of Indian excellence. It’s not just a brand; it’s a symbol of national pride, elevating the status of Indian spirits to unparalleled heights,” said Praveen Malviya, CEO, Piccadily Distilleries.

What started as a little-known sugar mill located in Indri, Haryana, the single malt hopes to dominate over 30 per cent of the market share in India. The brand said that it has set ambitious expansion plans with an aim to become one of the world’s top five-selling single malt whiskies.

The Indian single malt whiskies have reported a surge of 144 per cent in 2021-22.

Growing single malt market of India:

As the industry corners a share of around 53 per cent of total sales in 2023, nearly 6,75,000 cases (each containing nine liters) of single malts were sold in India last year. Drinks produced in India accounted for around 3,45,000 cases, with Scottish and other producers recording sales of around 3,30,000 cases.

According to ICRA, a credit rating agency, the Indian alcohol beverages industry is set for enhanced margins and increased sales in the fiscal year 2025.

ICRA expects revenue growth of 8-10 per cent on selected domestic alcohol beverages (alcobev) companies in FY2025. Indian-made foreign liquor (IMFL) companies are anticipating a revenue growth of 11-13 per cent, fueled by a growing preference for premium products and a volume increase of approximately 3-5 per cent.

While the future of the industry remains sunny as per forecasts, the alcohol business in India has its challenges with varied state tax rates and also the weather hindrance. India’s climate presents a unique challenge for desi single malt compared to Scottish single malt. The highly anticipated India–UK FTA is also likely to alter the alcobev landscape in the country.

Apart from crossing a milestone, Indri has been the recipient of several recognitions globally. Last year, Indri Diwali Collector’s Edition 2023 got the ‘Double Gold Best In Show’ award in one of the largest whisky-tasting competitions in the world, in which over 100 varieties of whiskies from across the world compete every year.

Indri’s single malt Trini had earlier won the Tokyo Whiskey and Spirits Competition 2023, the Fifty Best World Whiskies 2022 Award, and the International Whisky Competition in Las Vegas, and was featured in the Whisky Advocate’s Top 20 Whiskies of the World list.

For more news like this visit The Economic Times.