India Becomes the World’s Largest Buyer of Scotch Whisky

Discover How India’s Whiskey Consumption Surpassed France in Volume

India has overtaken France in whisky volume, according to the latest reports. They have now recently become the top buyer of Scotch whisky worldwide

The rising trend in India’s whiskey consumption is evident as it imported a staggering 219 million bottles in 2022. This represents a 60% increase from the previous year.

In 2022, the United States imported Scotch whisky worth £1.05bn ($1.27bn), making it the largest buyer by value. Nevertheless, the Scotch whisky industry can anticipate a prosperous future due to India’s growing significance as a premium spirits market, as well as double-digit growth in other markets within the Asia-Pacific region.

India surpassed France as a crucial market for Scotch whisky, however, the industry maintains a positive outlook on the potential growth of the French market and other European markets like Germany and Spain. The SWA (Scotch Whisky Association) remains committed to developing and expanding the worldwide market for Scotch whisky, despite continuous obstacles. Additionally, the association is striving to increase awareness of the distinctive qualities and heritage of Scotch whisky.

“an additional £1bn of growth over the next five years”

According to this statement from the SWA, the sales of Scotch whisky have the potential to surge if the deal is approved. The SWA’s in-house analysis suggests that this could be a possible outcome.

The Scotch Whisky Association (SWA) hopes that a much-anticipated trade deal between India and the UK will alleviate the burden. The trade agreement aims to eliminate or decrease trade barriers, such as the import tariff on Scotch whisky. The two nations didn’t meet the deadline last October to finalize the agreement, but they have held various rounds of negotiations thus far.

If the trade deal is successful, it could substantially aid the Scotch whisky industry by granting access to one of the world’s biggest markets for luxury spirits. Whiskey manufacturers could potentially gain a larger market share and boost exports.

“an additional £1bn of growth over the next five years”

The SWA has stated that if approved, the deal could lead to a potential surge in Scotch whisky sales. The association’s in-house analysis proposes that this is one of the potential outcomes.

However, negotiations have been challenging as the two parties have failed to agree on several key issues. Despite this, the SWA remains optimistic that the two countries will reach an agreement, which will help to establish a flourishing whisky trade between the UK and India.

The demand for Scotch whisky is resurging, particularly in the Asia-Pacific, where countries are bouncing back from the economic aftermath of the COVID-19 pandemic. The Scotch Whisky Association (SWA) reports double-digit growth for Scotch makers in various Asian markets such as Taiwan, Singapore, and China.

Meanwhile, India retains its position as the largest buyer of Scotch whisky by volume, with exports to the country rising by 60% in 2022. Additionally, other markets show significant growth potential as consumers seek out premium spirits for special events or to expand their collections.

“In 2022, the industry benefited from the full re-opening of hospitality businesses in key global markets, as well as the return of global travel retail which opens such an important window for Scotch Whisky to business and leisure travellers,” said Mark Kent, SWA CEO.