A proliferation of premium brands is assisting gin’s rise to popularity.
NEW DELHI:
When Khalil Bachooali and Devika Bhagat visited London four years ago, the artisan gins there inspired them. When the two returned, they made the decision that they wanted to create a brand-new gin just for the Indian market.
Around 16 different botanicals would be present in this one, including coriander, black and green cardamoms, lemon verbena, sweet lime, grapefruit, Cubeb pepper, lotus flower and seeds, and fennel.
Their company, Adventurist Spirits, which they founded in Goa, the epicenter of all things craft booze, is where Tamra’s gin was first produced. This liqueur can be purchased for more than 3,200 per bottle in Mumbai and some other cities across the nation.
Distribution across India in Karnataka and towns like Gurgaon and Pune are the next items on the company’s map.
“We are relying on widespread gin consumption of aggressively marketed gins to attract more sophisticated drinkers to the category. Every craft beverage is intended to educate. The entire category will expand, according to Bachooali.
Gin that costs $3,000 or more has had a unique growth trajectory as the beverage becomes increasingly popular in India. According to IWSR Drinks Market Analysis, this category is expanding quickly. Volume in this segment increased by more than 90% in 2021 compared to 41% in 2020.
It stated that gin at that price range had a compound annual growth rate (CAGR) of more than 78% from 2016 to 2021 and was expected to grow at a rate of 30% from 2021 to 2026. Gin sold in India at that price point accounts for around 20% of the country’s overall gin value but only 2.3% of its volume.
Nearly 68% of the volume sold of gins in that price range is imported. The value of the category, both domestic and imported, increased by almost 95% last year. After falling by 54% in 2020, India’s overall gin consumption volume increased by around 47% in 2021.
Jaisalmer Gold was just released by the Indian company Radico Khaitan, which also produces the well-known Jaisalmer gin. There are 18 botanical components in this. At first, it will only be accessible on the global market.
The brand experienced exponential growth last year, although it is still in its infancy. Value is prioritized over volume in a luxury market like this, he said.
According to Vikram Achanta, founder and CEO of Tulleeho, a drinks training, and consulting company, there is an influx of more premium brands, such as Sipsmith from Beam Suntory and Malfy and Kinobi, both of which are launching soon from Pernod Ricard. These brands are helping gin’s overall popularity.
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