India Scotch Whiskey Market: India is set to become the largest global Scotch whiskey market in terms of value and volume in the next few years on the back of competitive intensity, premiumization and economic growth. Scotch Whiskey Association Chief Executive Officer (CEO) Mark Kent CMG has said this.
Mark Kent, praising India’s emergence in the single malt whiskey market, said that the Scotch Whiskey Association is exploring the possibilities of export not only to the UK market but also to other global markets.
Information given about Indian market?
Referring to the emergence of the Indian single malt category, some of which have recently won several prestigious international awards, he said he is going to talk with the Indian Malt Whiskey Association, as they share similar views on the importance of quality in manufacturing and working together. This is an important opportunity for both Indian and Scottish industries. There is an opportunity for Indian companies to promote exports of Indian single malt to the UK and build partnerships for global markets.
He told PTI that this is indeed a moment of opportunity for both sides. Mark Kent said that India is already the largest market for Scotch in terms of volume, from where it is exported to 180 markets. However, in terms of price it is included in the top five. He further said that he is optimistic about India’s prospects and the trend of premiumization here.
He said, “Now, if you add to this the factors that we are seeing growth in the Indian market, and the fact that we are going to see a more competitive environment for Scotch imports, then I think it is very possible that India may very soon, in the next few years, take over the position of the largest in terms of volume and the largest in value.” However, it will also depend on some factors related to the world economy.
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