India emerges as global growth engine for alcobev in 2024

India has emerged as one of the strongest performing markets for alcoholic beverages in 2024, according to the latest report by IWSR, the global leader in beverage alcohol data and insights. The country registered a 6 percent growth in total beverage alcohol (TBA) volume and an impressive 9 percent increase in TBA value, with whisky and beer leading the expansion. Notably, Scotch whisky consumption in India grew by 6 percent in volume and 7 percent in value, setting the country on track to become the largest Scotch whisky market globally by 2027, report underlines.

IWSR’s full-year 2024 data reveals a mixed picture for the global beverage alcohol industry, reflecting both resilience and volatility in the face of geopolitical and economic headwinds. While global TBA volume declined by 1 percent, value rose modestly by 1 percent, highlighting the continued trend of premiumisation in several key markets. IWSR forecasts the global beverage alcohol market to grow by $16 billion over the next five years, and by $34 billion over the next decade—based on its first-ever ten-year outlook.

Emerging markets played a vital role in cushioning the global slowdown. In Brazil, TBA volume was up just over 1 percent, but value surged by 5 percent, fueled by growth in premium beer, brandy, and RTDs. South Africa delivered even stronger performance, with TBA volume up 3 percent and value up 10 percent, driven by consumer demand for beer and wine-based RTDs.

Meanwhile, global RTDs (ready-to-drink beverages) continued their upward trajectory, growing 2 percent in volume and nearly 5 percent in value. Hard tea stood out as the fastest-growing subcategory in the US, clocking a 31 percent annual volume increase. No-alcohol beer also maintained strong momentum globally, up 9 percent in volume, and is now expected to surpass ale to become the second-largest beer category by volume worldwide.

Despite a 2 percent global decline in spirits volume, certain segments outperformed. In addition to India’s strong Scotch whisky growth, tequila saw a 2 percent rise in volume and 4 percent in value across markets outside Mexico, confirming the spirit’s expanding international footprint.