It’s an thrilling time for Indian whisky as manufacturers faucet into single malts and cultural moments, however how did the biggest gamers carry out final 12 months?
As one of many world’s largest markets for whisky, India is seeing a rising curiosity in regionally produced choices. Entry-level Indian whisky offered in its residence nation was one of many classes that helped to offset a extra vital decline in international spirits volumes, which fell by lower than 1% in 2024, in keeping with knowledge from IWSR Drinks Market Evaluation.
The analyst famous that Indian whisky is seeing success, with the only malt subcategory making ‘large beneficial properties’ in its residence market, a phase drinks large Diageo is specializing in with its Godawan single malt model.
However how did the class’s prime gamers carry out final 12 months? General, it was image of well being throughout the sector with most manufacturers in development.
One newcomer to the record additionally swooped in to take this 12 months’s Indian Whisky Model Champion title, nevertheless the present chief of the pack may lose its crowning place this 12 months.
Scroll all the way down to see the most important performers from The Model Champions 2025 report.
The info is listed to at least one decimal place for ease of studying, however the proportion modifications have been calculated on the complete knowledge provided. All knowledge is recorded in tens of millions of nine-litre circumstances.
Quantity: 2020: 3.1m | 2021: 2.9m | 2022: 3.0m | 2023: 3.3m | 2024: 3.6m
% change: 9.4%
Place final 12 months: 9
Making its debut on the highest 10 record final 12 months, United Spirits-owned Director’s Particular recorded its fourth consecutive 12 months in development, with case gross sales reaching 3.6m – its highest determine thus far.
Regardless of rising by 9.4% final 12 months, the model moved down one house on our biggest-selling record as a consequence of a newcomer that skilled triple-digit development.
Quantity: 2020: 2.8m | 2021: 3.6m | 2022: 5.0m | 2023: 5.1m | 2024: 3.9m
% change: -23.5%
Place final 12 months: 8
Allied Blenders & Distillers’ (ABD) Sterling Reserve model skilled the most important drop among the many world’s top-selling Indian whiskies with volumes plunging by 23.5% final 12 months.
Beforehand named Indian Whisky Model Champion in 2021, the model hit a gross sales excessive of 5.1m in 2023 however misplaced multiple million circumstances a 12 months later.
Quantity: 2020: N/A | 2021: N/A | 2022: N/A | 2023: 1.6m | 2024: 4.5m
% change: 181.3%
Place final 12 months: N/A
Whereas Sterling Reserve struggled final 12 months, new stablemate Iconiq White Whisky had a very spectacular 2024 with volumes skyrocketing by 181.3%.
A newcomer to the ranks in 2023, Iconiq managed to surpass Sterling Reserve to enter the highest 10 record for the primary time and safe this 12 months’s Indian Whisky Model Champion title.
ABD’s managing director, Alok Gupta, attributed Iconiq’s development to its positioning as a “modern, trendy, and culture-driven model aimed squarely at India’s youthful, aspirational customers”.
Quantity: 2020: 4.3m | 2021: 4.7m | 2022: 7.2m | 2023: 8.6m | 2024: 9.1m
% change: 6.7%
Place final 12 months: 7
The second United Spirits-owned model to function within the best-selling record was Royal Problem, which had a profitable 2024 with volumes reaching 9.1m circumstances.
Sustaining its seventh spot, Royal Problem grew by 6.7% to report its largest case gross sales thus far.
A part of United Spirits’ Status portfolio, Royal Problem tapped into influencer advertising and marketing throughout the India-South Africa bilateral cricket collection in November and launched a 180ml ‘pocket’ pack in Assam, Rajasthan and Maharashtra.
Quantity: 2020: 9.4m | 2021: 11.4m | 2022: 11.9m | 2023: 12.2m | 2024: 9.6m
% change: -20.8%
Place final 12 months: 5
Slipping down one spot to sixth place was Radico Khaitan’s 8PM model, which plummeted by 20.8% final 12 months after 4 years in development.
This lower has practically taken the model again to the 9.4m circumstances it achieved in 2020.
Earlier this month, Radico Khaitan unveiled a brand new design for 8PM Premium Black Whisky, which may assist the model’s volumes get well this 12 months.
Quantity: 2020: 6.6m | 2021: 8.0m | 2022: 9.5m | 2023: 9.6m | 2024: 10.1m
% change: 5.0%
Place final 12 months: 6
Pernod Ricard-owned Blenders Satisfaction continued its development streak with volumes rising by 5.0% to surpass 10m circumstances for the primary time in 2024.
Final summer season, the model unveiled a brand new line extension, Blenders Satisfaction 4 Parts, which mixes 4 kinds of Scotch malts and Indian grain spirits.
India is a key marketplace for French spirits large Pernod Ricard with the brand new launch a part of the corporate’s purpose to maintain innovating within the nation.
Quantity: 2020: 20.8m | 2021: 23.2m | 2022: 24.9m | 2023: 23.4m | 2024: 21.3m
% change: -9.0%
Place final 12 months: 3
ABD’s third whisky on the top-selling record, Officer’s Alternative, posted its second 12 months in decline in 2024, with case gross sales down by 9% to 21.3m.
It was as soon as the biggest-selling Indian whisky on the earth however its newest figures have seen it fall additional down the record to the fourth spot.
In August final 12 months, ABD filed an preliminary public providing (IPO) to lift as much as 15 billion rupees (US$180m). Officer’s Alternative Whisky was described because the market chief within the mass premium phase with a market share of 20.9% by way of annual gross sales volumes in fiscal 2023, ABD mentioned.
Quantity: 2020: 21.3m | 2021: 24.1m | 2022: 24.0m | 2023: 22.8m | 2024: 22.9m
% change: 0.4%
Place final 12 months: 4
Pernod Ricard’s Imperial Blue failed to carry on to its third spot, slipping down one place after managing a 0.4% uptick in 2024. It did, nevertheless, handle to rebound from the decline it noticed within the earlier 12 months.
Latest reviews declare Pernod Ricard is trying to offload the model with India’s Tilaknagar Industries and Japanese conglomerate Suntory named as front-runners.
Nevertheless, a spokesperson for Pernod Ricard wouldn’t affirm the transfer: “Pernod Ricard usually critiques strategic choices for its improvement, together with its model/enterprise portfolio. As a matter of coverage, the corporate doesn’t touch upon market rumours or speculations.”
Quantity: 2020: 18.5m | 2021: 22.4m | 2022: 27.1m | 2023: 27.9m | 2024: 31.0m
% change: 11.1%
Place final 12 months: 2
Royal Stag fared higher than its stablemate Imperial Blue, with volumes hovering by 11.1% to 31m circumstances, marking its fifth 12 months in development.
The Pernod Ricard-owned model is more and more near usurping the primary spot for the primary time, after surpassing the 30m milestone.
Final 12 months, Royal Stag launched Double Darkish Peaty Whisky, mentioned to be the primary of its type within the class as a consequence of its smoky profile. It utilises double-distilled Scotch malts matured in darkish charred American and European oak barrels, blended with choose peated malt and impartial grain spirits.
Quantity: 2020: 25.7m | 2021: 30.1m | 2022: 30.8m | 2023: 31.4m | 2024: 32.2m
% change: 2.6%
Place final 12 months: 1
Like its nearest competitor, McDowell’s additionally managed to publish its fifth consecutive 12 months in development. The United Spirits-owned model recorded a 2.6% enhance to 32.2m circumstances in 2024, comparable development to the earlier 12 months.
If McDowell’s continues at this development fee, nevertheless, it’s place within the number-one spot might be underneath risk as Royal Stag is scorching on its tails and rising at a faster fee.
Final 12 months noticed the model diversify into new classes with the launch of its X Sequence, which features a vodka, gin and two rums.
Associated information
Indian Malt Whisky Affiliation formally launches
The world’s biggest-selling Indian whisky manufacturers
Rampur Distillery unveils Sangam Indian whisky
