India beating US, China's consumption rates of premium spirits: Researcher

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India beating US, China's consumption rates of premium spirits: Researcher - Business Standard

Quick Summary:

"One subcategory where India surpasses China and is growing at double the rate of the USA over a five-year CAGR is Scotch luxury whisky," Simon Joseph, a senior luxury brand builder and consumer experience expert based in Zurich, said.

India's rising affluent class is fuelling a surge in high-end spirits sales, with Scotch whisky and fine wines registering double-digit growth, outpacing consumption rates in the US and China, according to a Switzerland-based researcher.

Joseph, a researcher with Glion Institute of Higher Education, said according to various data forecasts, the luxury Scotch whisky market is also growing at 16 per cent CAGR up to 2024-end.