New Delhi [India], April 9: Today India’s premium pours have taken center stage in the lives of Millennials and Gen Z. Gone are the days when a drinking session used to be just about getting the buzz, the modern drinker wants a story in each sip.
Premium spirits have become the toast of the town, whether it’s that finely aged whiskey or the experienced craftsmanship behind a small batched gin, premium is the way to go.
Geetika Mahandru, President of IndoBevs, talks about this evolving landscape in India and
the shift in the choices of Indian consumers. She views this change, driven by a consumer base that values innovation and authenticity, as long-term and even accelerating.
With a focus on consumer engagement and market expansion, Mahandru aims to redefine how premium beverages are defined in India through her diversified offerings at IndoBev. Let’s explore her insights further.
The premium alcoholic beverage market is projected to reach a value of USD 430.38 billion by 2024. By 2034, it is expected to soar to an impressive USD 1,032.38 billion, reflecting a compound annual growth rate (CAGR) of 9.10% over the decade.
A blend of cultural shifts, economic growth, and evolving consumer tastes is fueling this upward trajectory. As urbanization is accelerating, cities have become a cultural melting pots where people from a spectrum of choices come together to celebrate and in these situations, premium alcohol has emerged as a symbol of celebration and social status.
Geetika Mahandru says, “Tier 2 and 3 cities have emerged as hotspots for premium beverages as there are world-class liquor stores and bars that have a wide selection for everyone’s taste. Earlier premium drinks were limited to metropolitans and selected outlets but today you can easily find premium beverages in tier 2 and 3 cities.â€
To add to this there is also a rise in disposable income which fuels their desire to have more elevated experiences. As wallets grow heavier, the comman man is not looking for common experience anymore, they covet luxury offerings which are perceived as accessible status symbols.
“This change in the willingness to splurge more in comparison to earlier generations shows a mental shift in the consumers that values quality over quantity. Their mantra seems to have changed to ‘less but better’ instead of ‘more but average’.†Believes Geetika Mahandru.
Another factor supporting this trend is the expanding and reliable distribution network which has made these drinks more available to different parts in India. by using structured frameworks distributers act as intermediaries between producers and retailers, they have a crucial role in enabling small and emerging brands to access winder markets by providing logistical support temperature controlled transport and ensuring traceability to protect from counterfeit products.
Social media and the rise in the popularity cocktail culture has added another angle to the premiumization trend. Cocktails have become more of an art form that is being amplified by the gen-z’s desire to create Insta-worthy moments.
As premiumization continues to take centre stage, the Alco-bev industry is pulling up its socks to cater to these demands. IndoBevs is at the forefront of this change with their premium offerings that cater to a varied palate.
Among their standout products is Wingman Blended Malt Whisky, meticulously crafted from Speyside Scottish single malts and featuring a convenient ‘Pop & Pour’ closure that enhances user experience. Another notable entry is Enso Japanese Whisky, celebrated for its refined craftsmanship and unique flavor profile. Complementing these are Eden Blended Malt Whisky, Tom & Mew London Dry Gin, and Gods Own VSOP Brandy, each delivering not only exceptional taste but also a rich narrative of artistry behind every sip.
With an ever increasing appetite for exclusivity, brands are using locally sourced produce and trying macerated small batch drinks that will leave you wanting more!
“The future of drinking is going to be more about the experience that accompanies each sip rather than what’s in the glass and we at IndoBevs are eager to give you just that,â€Â says Geetika Mahandru.
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